Al Jazeera
Al Jazeera 16 Nov 2020

Why is Asia-Pacific's new trade deal so important?

Description:

A third of the global economy comes under the new Regional Comprehensive Economic Partnership, or R-Cep.
China, ten southeast asian nations along with South Korea, Japan, Australia and New Zealand have signed the free-trade agreement.
But the U.S. is excluded, leaving Beijing as the dominant economy in the bloc.
So, will this deal help the region's economy?

Presenter: Bernard Smith



Guests:

Phar Kim Beng - Founder of the Strategic Pan Indo-Pacific Arena think tank.

Gareth Leather - Senior Economist at Capital Economics.

Stan Veuger - Resident Scholar at the American Enterprise Institute.


Protests are planned in London against the UK government's refusal to pass laws to stop cheap imported meat and other animal products in new trade deals after Brexit.
This includes US chlorinated food items that do not meet European standards.
Al Jazeera's Andrew Simmons went to a farm in the village of Dalby, in England's Lincolnshire Wolds to assess the damage unregulated imports could cause.
An Asian trade deal almost a decade in the making is set to be signed on Sunday. The Regional Comprehensive Economic Partnership will cement China's position as the main influence on trade in the region, leaving the US on the sidelines of two huge trade deals after Donald Trump pulled it out of the Trans-Pacific Partnership in 2017. Plus, investment bank Goldman Sachs has made progress in appointing more women and people from minority backgrounds as partners - but the majority of promotions are still given to white men.
15 Asia-Pacific countries signed the world's largest trade deal called the Regional Comprehensive Economic Partnership (RCEP). It cover's almost a third of the global economy. CGTN's Roee Ruttenberg and Sourabh Gupta, a senior Asia-Pacific policy specialist at the Institute for China-American studies, discuss the impact RCEP will have in the region.
Fifteen countries in the Asia-Pacific region have signed the world's largest trade deal in terms of GDP. The deal was sealed on the sidelines of the ASEAN summit hosted by Vietnam. The "Regional Comprehensive Economic Partnership," or RCEP, includes 10 Southeast Asian nations, along with China, Japan, South Korea, New Zealand and Australia. Many in Asia are now hoping the deal will help the pandemic-hit economies get back on track.

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