[ad_1]
Image source, fake images
.
Prime Minister Li Keqiang spoke about the trade victory, while the conservative Chinese newspaper said the United States “could not make a break.”
15 countries have just formed the world’s largest trading bloc, representing a third of the world economy.
The Regional Comprehensive Economic Partnership (RCEP) was signed on November 15 with 10 ASEAN members in the same five countries as China, Japan, Korea, Australia and New Zealand.
This agreement is seen as an attempt to expand Chinese influence in the region.
“In the current global context, the fact that the RCEP was signed after eight years of negotiations brings a ray of light and hope through the clouds,” said Chinese Premier Li Keqiang.
Ultimately, Li describes the agreement as “a victory for multilateralism and free trade.”
This message was also shared in the Global Times, the tough and conservative spokesman for Beijing.
The article by Professor Chengdu Hanping, from Nanjing University, China, published on November 15, describes the signing of the RCEP as a great victory for multilateralism over unilateralism, referring to the decisions. Washington’s policy moves away from multilateral mechanisms of free trade cooperation.
Image source, VNA
RCEP was signed on the online form due to the Covid-19 pandemic.
“RCEP will help China and ASEAN to strengthen mutual trust and strategic cooperation, … have joint responsibility to fight the anti-globalization situation and protect trade,” said the author. to write..
According to the author, despite the severe economic impacts of the COVID-19 pandemic, the volume of trade between China and ASEAN has increased accordingly; in fact, ASEAN has overtaken the EU to become a major trading partner. in the period from January to June 2020.
The notable point of this comment is that the author, a senior researcher at the Center for East Sea Studies at Nanjing University, mentioned the benefits of RCEP with its Belt and Road Initiative (BRI). China.
“Based on the Joint Leaders’ Statement on RCEP published in November 2019, the parties agreed to promote the direct linkage of the facilities with the BRI development plan.
“It is believed that the China-Laos railway and the China-built Jakarta-Bandung high-speed railway will soon benefit the people of the region.”
The author describes that the signing of the RCEP “would be a blow to the Trump administration, which inflated trade disputes at all costs.
Image source, fake images
RCEP members represent nearly a third of the world’s population and 29% of the world’s GDP.
The author argues that the “comprehensive” and “progressive” elements of the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP) are compared to the Trans-Pacific Partnership Agreement (TPP), which is Barack Obama used to promote that the TPP focuses primarily on the trade and the CPTPP includes investment.
“If the United States, under Joe Biden, decides to re-partner with the CPTPP, are they willing to accept the new entrant’s position? Or will they show their arrogance again?” The author asks the question. “Most likely, the United States will use all means, including confrontation, hostility and smear campaigns, to interfere with RCEP operations.”
According to Professor Thanh Hanping, the author of the article, if the United States returns to the CPTPP, Washington will try to turn it into a platform against the RCEP.
“The United States has the ability to continue the new cold war in economics and trade with China. But the option is not in the hands of the United States, but in the hands of the members of the CPTPP.
“In the new era of globalization with mutually beneficial cooperation strategies, one must ask, will they abandon multilateralism and turn to unilateralism?” writes the author.
