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The “Regional Comprehensive Economic Partnership Agreement” (RCEP) led by China was officially signed yesterday (15), making it the world’s largest free trade agreement. Taiwan has been excluded from the RCEP and it cannot be denied that it is indeed affected. In this sense, the well-known lawyer Lu Qiuyuan used the comic “Dora A Dream” as an analogy. Every time the husband finds a friend to vacation on the island, Nobita is always isolated, “We may be that Nobita, and there is no Dora A Dream by his side.” But we can win a game, an invite, a goal, a pitch, a game, a game.
The failure of Taiwan to join the RCEP will affect the domestic petrochemical, textile and steel industries. Lu Qiuyuan said the government can continue its efforts to join the Comprehensive Progress Agreement for the Trans-Pacific Partnership (CPTPP). He stressed that “this is a grenade that is destructive to certain industries in Taiwan, but it is definitely not a nuclear bomb.”
The following is Lv Qiuyuan’s Facebook “Five minutes lets you know RCEP”:
1. What is RECP?
After 8 years of negotiations, 10 ASEAN countries and 5 countries, including China, Japan, South Korea, New Zealand and Australia, finally signed the RCEP, which is the “Regional Comprehensive Economic Partnership Agreement”. This is the world’s largest trade agreement economy, accounting for 30% of global GDP, covering nearly 2 billion people, and removing up to 91% of tariffs in the region.
2. Has Taiwan joined?
Xiaofu and Fathu, going to a village on the Si Die peninsula, are only looking for Shizuka. When did they look for Nobita?
3. Why didn’t Taiwan join?
Because China cannot allow Taiwan to join. Who cares about you Isn’t this the famous saying of China when it was attacked by the SARS epidemic in Taiwan? As long as a member state disagrees, new members cannot join.
4. What happens if Taiwan does not join?
Initially, the industries most affected are petrochemicals, textiles, steel and others. In the future, tariffs on these industries will gradually be reduced to zero in these countries and Taiwan prices will be less competitive due to the impact of the tariffs. If these industries had low profits originally, they would be hit hard in the future.
5. Why didn’t India join?
Because India is concerned that Australian and New Zealand animal husbandry, dairy and low-priced products from China will overwhelm the Indian market. India hopes to increase the defense mechanism in case of product dumping, but China is opposed and therefore India refuses to join this system.
There will be tradeoffs and benefits to joining a liberalized trading system. There is no trading system where we don’t have to pay a price, but we can earn something. India has made a decision, but Taiwan has no choice.
6. Is the tariff the most important import and export key?
Not necessarily, for industries with low profits or low levels of technology, tariffs will have a big impact. But for medical equipment, tariffs will not be the center of attention, because after passing the review mechanism of import licenses for medical equipment in Southeast Asian countries, growth will not be affected by tariffs.
7. What can the government do?
Please continue to work hard to join the Comprehensive Progress Agreement for the Trans-Pacific Partnership (CPTPP). At present, 12 countries have joined this agreement. The population of the member countries is almost 500 million and the total GDP exceeds 11 trillion US dollars (which represents 13.1% of the world total); trade value accounts for more than 24% of China’s total trade value, but American pigs, American cattle and nuclear safety food Determining this will affect the determination of other countries to support Taiwan. Furthermore, we can also actively sign free trade agreements with other countries or help promote industrial transformation.
There will be an impact, but it’s not our fault or that we can’t come together.
8. What can we do?
The petrochemical, textile and steel industries need to have an impact, if you are concerned about tariffs affecting profits, you may need to develop high-level process centers or transfer production bases. After the agreement is signed, other member states will have to approve it, but not all tariff reductions will be completed at once. Therefore, there is still time to gradually adjust your corporate physique.
However, understand that there is no free lunch in the world. Exemption or reduction of tariffs is equivalent to opening the internal market. There will be certain sacrifices and concessions. Don’t always think on the bright side.
9. How can I join RCEP?
Recognizing the 1992 consensus and supporting one country, two systems, China should “consider” supporting Taiwan and entering this system on behalf of Chinese Taipei. However, it was for consideration only and did not say that Taiwan would definitely join.
10. What choice do you want between recognizing “Consensus 92, one country, two systems” and “I cannot join RECP”?
Children make decisions, I don’t want them all.
Every time the husband wants to go on vacation to the island, he invites Shizuka and Fat Tiger, but Nobita doesn’t exist. We can be that Nobita, and there is no Dora A Meng by his side. However, we can win one, one invite, one goal, one shot, one game, one game. This is a grenade that is destructive to certain industries in Taiwan, but it is definitely not a nuclear bomb. Although this agreement is an update of an existing bilateral free trade agreement, as it has affected certain industries, the government must actively and carefully guide the industrial transformation. After all, industrial transformation has never been easy. Just say it.
However, since 1971, Taiwan is used to being excluded from China (powerless), we will survive and live better.
The China-led “Regional Comprehensive Economic Partnership Agreement” (RCEP) was officially signed yesterday (15), making it the world’s largest free trade agreement. Taiwan has been excluded from the RCEP and it cannot be denied that it is indeed affected.
Well-known lawyer Lu Qiuyuan used the comic “Dora A Dream” as an analogy. Every time the husband finds friends to go on vacation to the island, Nobita is always isolated, “We can be that Nobita, and there is no Dora A Dream by his side. But we can be one, an invitation, a goal, a launch of goal, a game, a victory “.
RCEP isolates Lu Qiuyuan from Taiwan: this is a grenade, but definitely not a nuclear bullet
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