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The world’s largest trade deal will take effect on January 1, 2022

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The world’s largest trade deal will take effect on January 1, 2022

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The RCEP is a free trade agreement between the countries of Asia-Pacific:

  • Australia, Brunei, Cambodia, China, Indonesia, Japan, South Korea, Laos, Malaysia, Myanmar, New Zealand, Philippines, Singapore, Thailand and Vietnam.

Some of the numbers applicable to RCEP:

  • covers a market of 2.2 billion people
  • $ 26.2 trillion in global production
  • the group covers around 30% of the world’s population
  • is also larger than other regional trading blocks such as the United States-Mexico-Canada Agreement (USMCA) and the European Union

I don’t know how China’s trade levies against Australia fit into the free trade agreement.

Map via Wikipedia.

The world’s largest trade deal will take effect on January 1, 2022

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