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US-China trade row seen to help conclude RCEP by year end

US-China trade row seen to help conclude RCEP by year end

13 Sept 12:48 Key points summarised by AI
  • The escalating US-China trade war and regional tensions are accelerating efforts to conclude the Regional Comprehensive Economic Partnership (RCEP) by year-end to stabilize international supply chains.
  • RCEP aims to create the world's largest trade bloc, involving 16 Asian-Pacific nations, with ministers committing to a 2020 signing and reporting significant progress in market access negotiations.
  • The agreement is expected to provide economic benefits like lower tariffs and clearer regulations for member countries (e.g., Thailand) while offering a platform to ease geopolitical tensions and ensure market access amidst trade disputes.
  • Despite progress, challenges remain, including India's reluctance to full trade liberalization and concerns from civil society about market opening and intellectual property rights.
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