For New Delhi, though, RCEP is first and foremost an economic deal that could hurt its more vulnerable industries and lead to near-term pain.
Conflict over trade dominated the economic headlines in 2019, so it’s surprising that the year ended with significant progress on three trade agreements.Each tells a different story about the outlook both for the global economy and for relations between nations.
As with many other countries, Pakistan’s FTA with China has had a devastating impact on its domestic SMEs. Beijing and Islamabad have a strategic partnership, but the Chinese remain cutthroat competitors in trade.
This level of annual spike in imports from Singapore has been unheard of despite the existence of the FTA for around 14 years now.
Abe seeks to bolster India ties to balance China’s clout.
The EAEU is shopping for partners in Asia. Middle finger to the West or sound trade policy?
When it comes to critical raw materials, the Commission is exploring fair trade agreements with Africa, Australia and Chile while the Canada-Europe trade deal could be a boon for sourcing nickel and rare earths.
China aims to press ahead with 15 remaining RCEP members. Japan had sought to balance China by involving India.
While the geopolitical tensions remain, the legal landscape continues to evolve. It seems likely that more claims will be brought in each direction.
India has viewed FTAs as an important tool to enhance its trade and investment, and signed a number of trade agreements with various countries or groups. And India’s experience intrade with its major FTA partners has not been very encouraging.
A free trade deal with Iceland has an important benefit: It’s part of a broader plan to boost America’s presence in the Arctic region as a bulwark against Russia and China.
Western architects of the investment regime expected the treaties to play a standard-setting role to be used in informal bargaining with host states.
After the Regional Comprehensive Economic Partnership (RCEP) made substantive progress, it is now time for China to consider joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Japan and New Zealand to work toward expanding the existing 11-member trans-Pacific partnership free trade pact as they seek further economic and regional integration in the Indo-Pacific.
While there are clearly roadblocks to an agreement, there are also tailwinds — tailwinds that might never be stronger than they are right now.
High growth has granted the country global relevance but others may not support us if they don’t see an economic upside.
A spat between the world’s most populous countries is holding up a pan-Asian trade agreement encompassing nearly a third of all global trade.
It’s a good guess that the new global economic system will give overt political considerations greater weight than its predecessor. Countries will link trade benefits and penalties to their political agendas.
If the U.S.-China trade war continues or worsens ASEAN countries will also experience a bumpy ride.
Japan imposed export restrictions on three key chemical materials upon which South Korea is highly dependent for the production of semiconductors. With other actions, that were viewed by South Korea as a “declaration of economic war”.