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.

What was the significance of the Trans-Pacific Partnership in relation to RCEP?

Which countries in RCEP have strained diplomatic relations with Beijing?