The Asia-Pacific region certainly carries more weight these days in the global economic system, especially as the Regional Comprehensive Economic Partnership will further boost economic integration in the region and accelerate the shift in the global economic balance in favor of the Asia-Pacific.
The RCEP agreement, which was signed last November, groups 15 Asia-Pacific countries, including China and 10 members of the Association of Southeast Asian Nations, to make the world’s biggest free trade bloc that covers nearly one-third of global population as well as GDP.
On June 25, Japan ratified the agreement, and in doing so it has become the third member that has moved toward the enforcement of the RCEP. Read More.
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