Breakingviews – Subpar Asian trade deal shines in splintered world

MELBOURNE (Reuters Breakingviews) – Any bit of cooperation between nations is welcome in a fractured world trending toward isolationism. That’s the low bar just cleared by the Regional Comprehensive Economic Partnership, a pact to ease the buying and selling of goods among 15 Asia-Pacific nations. Even the modest progress makes all too clear the sad state of global trade affairs.

The deal signed virtually over the weekend has been eight years in the making. Some of the elements are symbolically significant. The bloc covers about 30% of the world economy and population, more than any other trade agreement. Regional rivals China, South Korea and Japan also have joined together in such an accord for the first time. And although the group will miss India’s presence, binding Indonesia, Australia, Thailand and the rest closer is no small feat.

The deal signed virtually over the weekend has been eight years in the making. Some of the elements are symbolically significant. The bloc covers about 30% of the world economy and population, more than any other trade agreement. Regional rivals China, South Korea and Japan also have joined together in such an accord for the first time. And although the group will miss India’s presence, binding Indonesia, Australia, Thailand and the rest closer is no small feat.Reuters News

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.