The world’s largest trade deal will come into force on 1 January 2022

RCEP is a free trade agreement among Asia-Pacific nations:

  • Australia, Brunei, Cambodia, China, Indonesia, Japan, South Korea, Laos, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, Thailand, and Vietnam.

Some of the numbers applicable to RCEP:

  • covers a market of 2.2 billion people
  • $26.2 trillion of global output
  • grouping covers about 30% of the world’s population
  • is also larger than other regional trading blocs such as the United States-Mexico-Canada Agreement (USMCA) and the European Union

I’m unsure how China’s trade levies against Australia fit with the free trade agreement.

rcep map

Map via Wikipedia.

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