Even without India, the RCEP trade deal encompasses almost 30% of the world economy
many sheaves of paper into a stapler and it will struggle to fasten them together, however thin each page may be. The same is true of the Regional Comprehensive Economic Partnership , a long-delayed trade deal involving 16 Asian countries.was intended to bind together all of the existing trade agreements between the Association of South-East Asian Nations and the region’s other big economies, including China, Japan, South Korea, Australia, New Zealand and India.
These concerns seem overblown. The agreement is unlikely to have liberalised agriculture much, if at all. And it reportedly allows its poorer members to proceed cautiously and gradually in lowering tariffs on manufactured goods. Indian and Chinese officials had been discussing adjustment periods of up to 25 years for some items. To assuage Indian concerns, its negotiating partners were also apparently willing to let it impose some sort of “safeguard” tariffs if imports surged too sharply.
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