and the US is not part of itSource: BloombergWhile everyone was distracted due to COVID and US elections, the world\u2019s largest trade deal was signed. Australia, New Zealand, Japan, China, South Korea, and members of the Association of Southeast Asian Nations (ASEAN- which include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam) came together to sign the Regional Comprehensive Economic Partnership (RCEP). This regional partnership will bind together 30% of the global economy while combining 2.2 billion people and $26.2 trillion worth of GDP. RCEP is predicted to add $209 billion to annual incomes and $500 billion to world trade by 2030. The benefits of this trade deal include:Bolstering pandemic-weakened economies by reducing tariffsStengthening supply chains with common rules of originEnhancing online and personal consumer protectionTransparency in paper-less tradingBanning tech transfers and protecting intellectual property rightsOverall, this trade deal will help these nations further integrate trade and supply chains. It will also create norms for high tech trade and investment like 5G, digital currency payments, and e-commerce. Many of these nations already trade with their local currencies, paving the way for China to test its digital currency and use it for global trade. Most importantly, the US is not involved in this trade deal.This trade deal was 8 years in the making. Around the same time, The Obama administration was negotiating the Trans-Pacific Partnership (TPP) with Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, Japan, and New Zealand. The main goal of the TPP was to deepen the economic relationship between the US and these other Pacific rim nations by cutting tariffs to boost trade between these nations. Most importantly, by not having China part of the TPP, the US wanted to pull Asia into the US orbit (similar to how with the\u2026<\/p>","protected":false},"excerpt":{"rendered":"
and the US is not part of itSource: BloombergWhile everyone was distracted due to COVID and US elections, the world\u2019s largest trade deal was signed. Australia, [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/posts\/2834"}],"collection":[{"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/comments?post=2834"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/posts\/2834\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/media?parent=2834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/categories?post=2834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/ru\/wp-json\/wp\/v2\/tags?post=2834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}