Fifteen Asian-Pacific Countries Form Powerful Trade Bloc

The Regional Comprehensive Economic Partnership (RCEP) is a significant trade agreement signed virtually, involving 15 countries including 10 Southeast Asian nations, South Korea, China, Japan, Australia, and New Zealand. It aims to lower tariffs and boost regional economies post-COVID-19. The agreement, pursued for eight years, is still finalizing its guidelines. Analysts view it as a strategic move for China to enhance its economic influence and help member countries bypass US tariffs.

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