RCEP: 15 Asia-Pacific countries sign world’s largest trade deal

The video discusses the Regional Comprehensive Economic Partnership (RCEP), a free trade agreement involving China, ASEAN countries, South Korea, Japan, Australia, and New Zealand. India opted out in 2019. RCEP covers a significant portion of the global market, surpassing the USMCA and EU in size. It is seen as a diplomatic win for China, contrasting with the Trans-Pacific Partnership, which excluded China and was abandoned by the US in 2017. RCEP includes countries with complex diplomatic ties, such as Japan and Australia, highlighting its strategic importance.

Which countries are part of the RCEP, excluding India?

• China, ASEAN countries, South Korea, Japan, Australia, India

• China, ASEAN countries, South Korea, Japan, India, New Zealand

• China, ASEAN countries, India, Japan, Australia, New Zealand

• China, ASEAN countries, South Korea, Japan, Australia, New Zealand

What is the approximate percentage of global GDP covered by the RCEP?

• 75%

• 15%

• 29%

• 50%

How does the RCEP compare in size to the US-Mexico-Canada Agreement and the European Union?

• RCEP is larger than the European Union but smaller than the US-Mexico-Canada Agreement

• RCEP is smaller than both

• RCEP is the same size as the US-Mexico-Canada Agreement

• RCEP is larger than both

Which trade agreement was the US a part of before withdrawing in 2017?

• RCEP

• Trans-Pacific Partnership

• European Union

• US-Mexico-Canada Agreement

Which countries in the RCEP have complex diplomatic relations with China?

• India and New Zealand

• Japan and Australia

• South Korea and ASEAN countries

• China and ASEAN countries