Japan’s parliament approved joining the RCEP to aim for it to come into effect from the start of next year. The approval by Japan’s upper house comes after China called for the deal to be ratified to shore up the economy in the Asia-Pacific.
AfCFTA has materialized at a time when globalization is being used to hide all sorts of ambitions including the second empire and colonialism. AfCFTA is not just about the economy and markets, it is also a political setup from the African Union and African Development Bank.
As a result, although Sino-Iranian relations have developed over the past 10 years in terms of economic, energy, and security relations, and the two countries have similar views on the international system, the security interests of the two countries, especially China, outweigh its economic interests with Iran.
Critics warn of imperial fantasy but the economic and political forces pulling the UK back to the region are real.
As London eyes entry into Quad, Beijing looks to New Zealand for opening.
Australia’s efforts to end a diplomatic deep freeze with China may not be getting anywhere fast on the surface, but there are nonetheless some signs of a potential thaw.
China’s free trade agreement with the small island-nation of Mauritius came into effect in January, increasing the Asian powerhouse’s presence in the Indian Ocean where its regional rival India has long dominated.
If the latest flare ups over the contentious territorial issues and popular anti-China sentiments in the region are anything to go by, it seems likely that uncertainty over domestic ratification of the RCEP agreement by the signatory states would persist in the days ahead.
If both the US and China join the CPTPP, and it becomes the world’s largest free trade agreement, then the RCEP would recede in significance. CPTPP, comprising both the US and China, sensing more economic benefits in committing to the RCEP.
Trump said the goal of the Western Sahara consulate would be “to promote economic and trade opportunities in the region.”
Not only has India failed to agree on its own trade and investment deal with the EU, the country has failed to capture any significant share of China-based global supply chains.
China’s first FTA with an African country provides a stepping stone into the continent through the geopolitical hotspot Indo-Pacific region.
Though EU officials haven’t yet revealed the details, one senior EU diplomat said the agreement goes beyond anything Beijing has offered any foreign partner previously.
China’s renewed pursuit of a free trade agreement with South Korea and Japan appears aimed at undercutting US influence and shaping regional economic cooperation on terms favorable to it.
The UK recently signaled an intention to reset its diplomatic relations, including with China. The UK seems inclined to take a more aggressive path towards China at a cost of obstructing a free trade agreement talks.
The challenge is not that the world’s biggest trade deal is China-led or heralds a Sinocentric order – both of which are misrepresentations anyway – but that the Asia-Pacific region has shown no need of US leadership or even involvement.
India’s decoupling from China led to a number of harsh steps to undermine the trade and investment relations with China, despite the fact that Chinese investment set the turf for mobile phone manufacturing in the country.
Trade agreements can be as powerful as military force for achieving a country’s strategic objectives.
India is seeing public opinion drastically shift in favor of Taiwan amid growing anti-Beijing sentiments. But will New Delhi risk its Asian rival’s wrath for stronger ties with Taipei?
The loss of India from the RCEP pact is a bitter blow to Thailand which had been looking forward to becoming a partner with India’s technology sector which is also very close to that of the United States.