politics

15 Asia-Pacific countries form world's largest free trade bloc in boost for China

45 Comments
By ELAINE KURTENBACH

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45 Comments
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Yeah right on! Let's boost China and stick to them. It's time to transfer the World Power from US to China.

Great job Japan! Viva China!

-12 ( +13 / -25 )

Apart from the 10-member Association of Southeast Asian Nations, it includes China, Japan, South Korea, Australia and New Zealand, 

Japan tried really hard for TPP which includes some changes being done domestically, at the end, joining RCEP

https://thediplomat.com/2020/08/japans-painful-choice-on-rcep/

2 ( +2 / -0 )

Much to the detriment of the U.S. Trump has made America irrelevant in global partnerships. While the rest of the world wears masks and proceeds into the new economic realm of the 21st century, MAGA wants to return to the days of the steam engine.

16 ( +24 / -8 )

Good riddance USA you're becoming more and more irrelevant

10 ( +24 / -14 )

Bad news for ASEAN and others. Anything that strengthens China is bad for everyone else. China will not honor the agreement and will put tariffs and sanction on those who displease it. They are doing it now to a number of countries they have agreements with.

Time to boycott China.

5 ( +15 / -10 )

China will not give up its claims in SCS inspite of closer trade and economic ties with ASEAN. On the contrary, China will selectively ban imports from countries that go against it, free trade be damned.

4 ( +10 / -6 )

"Analysts are skeptical Biden will push hard to rejoin the trans-Pacific trade pact or to roll back many of the U.S. trade sanctions imposed on China by the Trump administration.

Seems like Biden will do exactly what Trump did as far as trade issues are concerned, he will only be more diplomatic and less confrontational about it.

2 ( +6 / -4 )

Bad move, this should have been everyone else without C H I N A, then you would have a fair and equitable bunch of trading partners with a decent system. The second china is involved you know its only heading one way.

You have to be stupid, blind or both not to see the bully and problem china is.

4 ( +17 / -13 )

Guess these leaders have all sold their countries off to the tyrant China then.

4 ( +16 / -12 )

15 Asia-Pacific countries form world's largest free trade bloc in boost for China

Go on. Beijing is very eager to make money to compensate global virus damages for which it is chiefly responsible. Let's have all invoices ready for delivery there.

7 ( +10 / -3 )

Yeah right on! Let's boost China and stick to them. It's time to transfer the World Power from US to China. 

Great job Japan! Viva China!

what an idiotic comment.

9 ( +16 / -7 )

Congrats! And now Asians have all the benefits that people in the West have been enjoying since the "free trade" wave started in the 90s -- stagnant and falling wages for workers, a shrinking middle class, offshoring of your most important industries (usually to communist countries that dont trade freely) and the emergence of a handful of billionaires who control 90% of your country's wealth.

Break out the Champagne!

12 ( +17 / -5 )

I am uneasy about this new pact. I know many people keep saying China is the future, that we can trust them, and that trade with with the them will make us all richer. But I think it would be much better for an authoritarian Communist bully state to NOT be in the worlds biggest trade bloc.

Most nations, including Japan, are making plans to pull out of China and wind back trade with them.

11 ( +15 / -4 )

Fully agree with some comments. China is an authoritarian regime and a bully which NO country should trust. This deal will only benefit the CCP and its corrupt officials and law makers. China should pay damages caused by the virus to every single country in the world. Callous regime.

9 ( +13 / -4 )

congratulations on all the RCEP members, the world will be better place without the MAGA. Now we can say it loudly, American didnt join it, but who cares!!

-10 ( +3 / -13 )

How long can japan keep this up?

Domestically, japan tries to show that it is a strong independent nation which has done everything on its own despite having help from other countries over the centuries, namely the U.S.

False-positive confidence.

In actuality, japan relies heavily on other countries to keep up this domestic image. Therefore, japan adheres to the strongest nation at the moment to reap the benefits of the overseas' market(s).

(thus the blatant hypocrisy of japan. it complained about being taken advantage of decades ago via foreign goods sold in japan, then through time, they turned the tables via nefarious means; ie: playing the victim)

It appears as though japan is shifting alliances to china as I predicted.

Japan is nothing but a leach on the backside of the powerful.

The facade continues.

-2 ( +3 / -5 )

Good riddance USA you're becoming more and more irrelevant

RCEP is quite pointless without India, and there is also lack of reinforcing mechanism between nations if anyone cheats on trades, likely China and Vietnam. Intellectual property cheats will be common.

I highly doubt that RCEP will be something that can topple the USA because everyone in the world uses USD for transactions. It is impossible that all RCEP countries will adopt the Yuan for international trade. Beijing's goal to make the Yuan into a global reserve currency will be difficult.

Bad news for ASEAN and others. Anything that strengthens China is bad for everyone else. China will not honor the agreement and will put tariffs and sanction on those who displease it. They are doing it now to a number of countries they have agreements with.

Not exactly. Comparing to the TPP, the RCEP lacks many reinforcing mechanisms and is prone to cheating. China and Vietnam will exploit this treaty the most to put Japan and South Korea crying on how cheaply Chinese and Vietnamese goods are killing competitions.

https://foreignpolicy.com/2020/10/09/china-belt-and-road-initiative-mess-not-master-plan/

The RCEP allows native governments to have a tremendous power on all commerce activities, so China won't be able to control anyone. You should read the article here to understand how BRI is a failure not a plan for world domination. All 15 countries are more independent in this treaty than the TPP.

Japan tried really hard for TPP which includes some changes being done domestically, at the end, joining RCEP

Because Japan is increasingly becoming irrelevant as an export-industrial power. China and Asian Tigers surpassed Japan, and soon it will be the ASEAN.

Japanese leadership has no choice to sell pieces by pieces of the Japanese domestic economy to China, Vietnam, America, ASEAN,... It is the only way to make Japan relevant in the long run.

17 ( +19 / -2 )

The US, once President Elect Biden is inaugurated, and with the Senate 50-50 and VP Harris to carry the vote for the Democrats, will be joining this free trade bloc very soon. Can’t wait!

-7 ( +4 / -11 )

The US, once President Elect Biden is inaugurated, and with the Senate 50-50 and VP Harris to carry the vote for the Democrats, will be joining this free trade bloc very soon. Can’t wait!

You clearly don't understand trade very well if you are anti-globalist.

-11 ( +0 / -11 )

@Johnson, you obviously don’t understand why Trump happened, or why Brexit is here. Neo-liberalism has caused havoc and people have had enough. Regionalism is the way. Not globalism.

10 ( +12 / -2 )

About to cook diner. Asian fusion. 50% of ingredients are from China or SE Asia, the rest from Japan.

I'm all for free trade.

-10 ( +3 / -13 )

Britlover.

I quoted another poster and then made my comment.

I am severely anti globalist and free trade.

-3 ( +1 / -4 )

MAGA wants to return to the days of the steam engine.

No, MAGA wanted prosperity, and it got it. In 2019, after Trump imposed tariffs and pulled out of free trade agreements, US households' income median income shot up 6.8% from the year before. Tariffs work. Free trade does not ( except for the billionaires and communists)

With RCEP, Asian workers will now be the ones to suffer.

US Census Bureau:

https://www.census.gov/library/stories/2020/09/was-household-income-the-highest-ever-in-2019.html#:~:text=The%20U.S.%20median%20household%20income,since%20we%20began%20recording%20it.

1 ( +7 / -6 )

During a trade war China has be worried and has as sense of crisis. That would’ve made the counties to make an agreement with the RCEP.

China could lead the trade loss as tariff of various products from many countries get lower and anoint if import increasing.

0 ( +0 / -0 )

With RCEP, Asian workers will now be the ones to suffer.

Except the Chinese and Vietnamese. Maybe Taiwan because of how close it is to China.

First, they are partners in crimes for many decades. Secondly, they have a very special trade relations where China produces raw goods and Vietnam manufactures the stuffs, and this is how Vietnam suddenly accumulating huge trade surpluses with the US. Thirdly, both countries are masters in the economy of scales and scopes - either party is a workshop of the world for many years, where China rules the industrial production, and Vietnam rules the agricultural production.

Japan, South Korea and the rest of ASEAN will suffer the worse - I can understand how smart it is for India pulling out. Japan and South Korea only have the high-end manufacturing to export to the US as the breads and butters. However, China is quickly closing gaps, will soon take over all high-end manufacturings. Meanwhile, Vietnam inherits the Chinese low-to-medium manufacturing as well as already having the strong agricultural base. ASEAN is already in a recession, except Vietnam. Just look at Indonesia, people are protesting when President Widodo killed the minimum wages for neoliberalism.

Congrats! And now Asians have all the benefits that people in the West have been enjoying since the "free trade" wave started in the 90s -- stagnant and falling wages for workers, a shrinking middle class, offshoring of your most important industries (usually to communist countries that dont trade freely) and the emergence of a handful of billionaires who control 90% of your country's wealth.

Except Communist countries, because they may control all wealth but they know how to redistribute.

China ensures all of its population to have a home and a job. Vietnam ensures all of its population to have a business and all opportunities for making money.

It is weird for me to see how Japan is way more Communist than both Communist states, and it rapidly declines in a neoliberal hellhole like the US. Japanese poverty rate is now as high as the USA, and every Japanese person expresses the desire to seek new life in the West if they are given a chance.

Post-Soviet Communism seems more adaptive and innovative than the current model of neoliberal capitalism. Trump was experimenting the new form of nationalist capitalism to dampen the damages from neoliberals of 20th century. Like you showed the US Census, it is kinda working.

7 ( +9 / -2 )

Trump screwed everyone by walking away from the TPP. Now China is the super power of the world... America first, nope!

3 ( +10 / -7 )

Pompeo to Indonesia: ''Stand up to China''.

Pompeo to Japan: ''Stand up to China''.

Pompeo to South Korea ''Stand up to China''.

All signed the RCEP with Beijing today.

You can tell from the collective meltdown of the DC think tank community alone that it's good for China.

10 ( +12 / -2 )

American government is redicuolous!

Dear USA,

Remember TPP?

We asked you to join, told you how important it is for many many years!

What was America response?

All Deals Sign by America must be Bad! All trade deals are bad! Your man (Trump) said it many times and the rest of America in 2016 agreed with him and voted for him.

3 ( +9 / -6 )

China ensures all of its population to have a home and a job. Vietnam ensures all of its population to have a business and all opportunities for making money.

Yeah, except for the tens of millions of street beggars in both countries. The only people making big money are the mega-rich aristocrats at the the top of the crooked communist system. "Redistribution of wealth" does not apply to the elite Commies, of course.

-2 ( +6 / -8 )

Yeah, except for the tens of millions of street beggars in both countries. The only people making big money are the mega-rich aristocrats at the the top of the crooked communist system. "Redistribution of wealth" does not apply to the elite Commies, of course.

Well, it is far better than dying poor as a single parent in Japan or bankrupt because of your medical bills in the USA. I need the source for that "ten millions beggars" because people in Vietnam and China now drive Mercedes and high-end cars, while Japanese consumers are too busy saving to make end meets (this includes the high-end weathy class of Japan thinks driving Porsche is the best luxury, while Chinese/Vietnamese business elites have 10 of Rolls Royce cars). I have traveled to both countries for works, and met with their businesspeople.

I am a critic of Chinese totalitarianism but it makes me to ponder that it is no use of downplaying your frenemies.

Admit it or not, the brand of "National Communism" in both countries is working. The elites in the West are taking a huge interest to propagate it.

6 ( +10 / -4 )

Go for it! China and its friends.

-1 ( +3 / -4 )

Thanks for the insights

@Septim Dynasty.

0 ( +1 / -1 )

having money pot luxury cars aint symbol of richness the national debt negates all of it n China n Vietnam has a Lot of it. N all RCEP members can play Chinas game agree on one thing n do the other thing thats how u treat China

2 ( +3 / -1 )

Capitalism in a socialist system. In the end it’s money. You are witnessing the power of money.

3 ( +4 / -1 )

This should have been done 9 years ago, but Japan dragged it down and down with all kind of reasons, such as human right and technology theft. What human right does Japan have when compared to China during the period ? While China's GDP doubled, Japan's GDP shrank by 30%. That is Japan's human right, the freedom of being poor. As for technology theft, Japan can't make 5G phone, can't build 5G station, yet excludes the best 5G technology from China. How stupid is that, and where is the bottom line for being a fool?

-4 ( +3 / -7 )

so boost a ruthless totalitarian regime with Uighur cultural genocide concentration camps and crushing democracy in Hong Kong

You fools

6 ( +7 / -1 )

sf2k, how long do you plan to lie ? Do you want your children to follow your example to continue to lie ? It is your freedom for being shameless, but do you know that know reasonable minds would care about what you lied about ?

-8 ( +1 / -9 )

Capitalism in a socialist system.

China? China's not socialist. They have almost no social safety net.

3 ( +6 / -3 )

so boost a ruthless totalitarian regime with Uighur cultural genocide concentration camps and crushing democracy in Hong Kong

The world needs to trade. If anything, the presence of trade deals are a buffer against war, as war then becomes an impediment to trade.

-1 ( +4 / -5 )

Trade is very good option for separate earning

0 ( +0 / -0 )

"The world needs to trade. If anything, the presence of trade deals are a buffer against war, as war then becomes an impediment to trade."

A very simplistic and naive argument. China will not hesitate to fight a limited war to achieve its interests, trade deal or no trade deal. The SCS is resource rich and has strategic importance, and many wars have been fought for control of resources or strategic trade routes. A concerted effort needs to be made to shut China out of the financial system, and this RCEP is the opposite of that.

3 ( +5 / -2 )

@JeffLee

Sounds like you read the book "The Expendables - How the middle class got screwed by Globalisation" by Jeff Rubin. Recommend it to other posters on this subject.

5 ( +6 / -1 )

Sounds like you read the book "The Expendables - How the middle class got screwed by Globalisation" by Jeff Rubin. Recommend it to other posters on this subject.

Agree with @JeffLee and @mazzda

I have seen it happen firsthand in last several decades living in the US. Countless industries outsource tens of millions of middle class jobs abroad in the US. Not sure why so many people support globalism when it really only benefits a select few of global companies.

4 ( +5 / -1 )

It looks like the world has not learned his lessons... The penny is more than moral, sad world

1 ( +2 / -1 )

Where is Mike Pompeo??

0 ( +0 / -0 )

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