RCEP: 15 Asian Economies sign World largest China-backed deal

On November 15, 2020, China and fourteen other countries signed a deal to set up the world largest trading bloc. The negotiations to sign the deal began in 2011. These 15 countries account to 30% of world population and 30% of global GDP. Thus, the deal is the world largest Free Trade Agreement. Key Highlights ..

Month: Current Affairs - November, 2020

Category: International Current Affairs

Topics: ASEAN • China • Free trade agreements • International Groupings • multilateral cooperation • Multilateral Trading System • RCEP • Trans-Pacific Partnership

United States to quit TPP

President-elect Donald Trump has announced that the US will quit the Trans-Pacific Partnership (TPP) trade deal on his first day in the White House. The TPP is essentially a Free Trade Area and the trade deal was signed by 12 countries. The 12 countries among which TPP has been agreed upon include – United States, ..

Topics: 114th United States Congress • Comprehensive and Progressive Agreement for Trans-Pacific Partnership • Free trade agreements • International relations • International trade • The Phoenix Partnership • TPP • Trade blocs • Trans-Pacific Partnership • Trans-Pacific Partnership negotiations

Impacts of Trans-Pacific Partnership on India

The TPP is an economic arm of United States’ Rebalance to Asia Policy. Since India has been an important part of the Asia policy, and is not a signatory to the TPP, there are widespread speculations as to how the TPP will impact India. While several opine that the overall impact is uncertain at this ..

Topics: TPP • Trans-Pacific Partnership

TPP and China

The main driving force of TPP is United States and as expected, US has successfully tried to keep China at bay from TPP. The group’s economic significance has increased with the addition of Canada and Mexico and has become even more when Japan and Vietnam have joined it. The Chinese view regarding TPP was that ..

Topics: Trans-Pacific Partnership

Trans-Pacific Partnership

In 2005, three countries viz. Chile, New Zealand and Singapore came together and created a free trade agreement called Trans-Pacific Strategic Economic Partnership or TPSEP. Later Brunei joined them and it was now also known as P4. From 2010 onwards, there have been discussions to make it more wider, more disciplined free trade agreement to ..

Topics: International Relations • International Trade • Non-tariff barriers to trade • TPP • Trade agreement • Trade blocs • Trans-Pacific Partnership • Trans-Pacific Strategic Economic Partnership Agreement