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Asia forms world’s biggest trade bloc, a China-backed group excluding U.S.

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REUTERS HANOI, NOVEMBER 15, 2020 12:20 IST UPDATED: NOVEMBER 15, 2020 12:20

The Hindu

Vietnam’s Prime Minister Nguyen Xuan Phuc (L) sits next to Minister of Industry and Trade Tran Tuan Anh as they watch a screen showing Chinese Minister of Commerce Zhong Shan (R) signing next to Chinese Premier Li Keqiang during the virtual signing ceremony of the Regional Comprehensive Economic Partnership (RCEP) Agreement during the 37th ASEAN Summit in Hanoi, Vietnam November 15, 2020.   | Photo Credit: Reuters

Amid questions over Washington’s engagement in Asia, RCEP may cement China’s position more firmly as an economic partner with Southeast Asia, Japan and Korea, putting the world’s second-biggest economy in a better position to shape the region’s trade rules

Fifteen Asia-Pacific economies formed the world’s largest free trade bloc on Sunday, a China-backed deal that excludes the United States, which had left a rival Asia-Pacific grouping under President Donald Trump.

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