March 6, 2021

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Asia-Pacific Countries Sign Major Trade Pact (deal) in Test for Biden

Asia-Pacific Countries Sign Major Trade Pact (deal) in Test for Biden 1

Developing Story; New president, New policies & new strategies but same Old tensions

Fifteen countries including China signed a major trade deal on Sunday after years of tricky negotiations, posing an early challenge to President-elect Joe Biden as he formulates his administration’s trade policies and creating a regional bloc that covers around a third of global economic output as well as extends Beijing’s influence.

Fifteen countries including China signed a major trade deal on Sunday after years of tricky negotiations, posing an early challenge to President-elect Joe Biden as he formulates his administration’s trade policies.

The agreement, called the Regional Comprehensive Economic Partnership, or RCEP, creates a regional bloc that covers around a third of global economic output. It stretches across many of Asia-Pacific’s largest and most vibrant economies, which set aside geopolitical differences to boost trade and growth…

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