Knowitall
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![m.economictimes.com](/proxy.php?image=https%3A%2F%2Fimg.etimg.com%2Fthumb%2Fmsid-79228913%2Cwidth-1200%2Cheight-630%2Cimgsize-184927%2Coverlay-economictimes%2Fphoto.jpg&hash=8ee63260e729da3b3558376a684a6487&return_error=1)
15 Asian nations sign China-backed RCEP trade pact
The Regional Comprehensive Economic Partnership (RCEP) -- which includes 10 Southeast Asian economies along with China, Japan, South Korea, New Zealand and Australia -- is the world's largest trade pact in terms of GDP, analysts say.
So what many feared has finally happened.
The deal includes 2.1 billion people, with RCEP's members accounting for around 30 per cent of global GDP.
Japan south korea australia vietnam all are a part of it. I cannot stress this enough but this will give china massage influence over these countries.
We will also see policy changes from all these countries as they will go more soft on china.
Conversely this will help china reduce their dependence of western products too.
People should not underestimate this deal. It has as we will see in the coming months and years result in huge geopolitical changes in the future.