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The United States is in a hurry to sign RCEP, the Asia-focused Regional Comprehensive Economic Partnership Agreement. This is because China has managed to sign a free trade agreement that includes not only Korea but also Japan, and this agreement is evaluated as “China’s victory.” Reports from Beijing correspondent Kang Seong-woong. Chinese Prime Minister Li Keqiang declared that the signing of the RCEP is a victory for multilateralism and free trade. China is welcome to secure economic alliances against the US strategy of “excluding China.” With the United States absent, it is also advantageous for China that most of the major Asian countries have participated in the RCEP. In particular, it is notable that Japan, a military alliance with the United States, joined the multilateral free trade agreement. Traditional American friends like Korea, Australia, and New Zealand are also important participants in RCEP. The British Economist called China the winner and the United States and India the losers at the conclusion of the RCEP. They agree only on tariffs and basic trade promotion measures, so there are limitations, but they believe that the benefits of China are enormous. Contrary to China’s advance, cooperation on the US free trade agreement has taken a step back in the past four years. We are faced with a fierce challenge from China, which puts our own interests first and puts multilateral economic cooperation first. US President-elect Biden said he will not allow China to lead the Asia Pacific region. It is increasingly clear that the Biden administration will continue to fight by force between the United States and China. YTN Sungwoong Kang from Beijing[[email protected]]it is.
