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

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    • #378424
      Ohio Barbarian
      Moderator
      • Total Posts: 17,986

      HANOI (Reuters) – 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.

      The signing of the Regional Comprehensive Economic Partnership (RCEP) at a regional summit in Hanoi, is a further blow to the group pushed by former U.S. president Barack Obama, which his successor Trump exited in 2017.

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      RCEP groups the 10-member Association of Southeast Asian Nations (ASEAN), China, Japan, South Korea, Australia and New Zealand. It aims in coming years to progressively lower tariffs across many areas.

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      The deal marks the first time rival East Asian powers China, Japan and South Korea have been in a single free trade agreement.

      Full story here

      It is better to vote for what you want and not get it than to vote for what you don't want and get it.--Eugene Debs

      Show me a man that gets rich by being a politician, and I'll show you a crook.--Harry Truman

    • #378433
      GZeusH
      Participant
      • Total Posts: 3,091

      Trade embargo with Cuba still on?         check

      Still trying to overthrow Nicaragua?       check

      Clinton Foundation bleeding Haiti?        check

      Trying to install Guaido in Venezuela?   check

      Scheming to take lithium from Bolivia?  check

      • #378812
        ArtfromArk
        Participant
        • Total Posts: 1,111

        Still occupying Tibet?  Check

        Still building fake islands in the South China Sea to claim waters that rightfully belong to other countries?   Check

        Still preparing for a possible invasion of Taiwan?  Check

        Still having territorial skirmishes with India?  Check (and this may be the real reason why India opted out).

        “There’s a new spirit abroad in the land. The old days of ‘grab and greed’ are on their way out. We’re beginning to think of what we owe the other fellow, not just what we’re compelled to give him. The time’s coming… when we shan’t be able to fill our bellies in comfort while others go hungry, sleep in warm beds while others shiver in the cold.... And God willing, we’ll live to see that day…” Basil Rathbone,"Sherlock Holmes Faces Death" (Universal 1943)

    • #378435
      djean111
      Participant
      • Total Posts: 5,015

      Given the history and current dealings of the US, that’s like the chickens ignoring the fox and the wolf and inviting packs of rabid badgers and weasels over for a dinner that consists of chickens.

    • #378440
      Yanath
      Participant
      • Total Posts: 1,450

      The sooner the evil hegemon declines and is replaced by a multipolar geopolitical system, the better off we’ll all be.

      • #378447
        Ohio Barbarian
        Moderator
        • Total Posts: 17,986

        @yanath Those Pacific countries are dealing with the reality they live in. They know they have to deal with China, so they do. No amount of American Exceptionalist preaching, badgering, and threats is going to stop them from doing that, nor should it.

        You are right; this is another sign of imperial decline.

        It is better to vote for what you want and not get it than to vote for what you don't want and get it.--Eugene Debs

        Show me a man that gets rich by being a politician, and I'll show you a crook.--Harry Truman

        • #378614
          Yanath
          Participant
          • Total Posts: 1,450

          @ohiobarbarian

          The TPP was US centered, included provisions for a US military expansion in the region, and was planned to be part of an overall strategy of isolating China, called the ‘Asia pivot’. Fortunately, Trump is a dumbass.

    • #378481
      JonLP
      Participant
      • Total Posts: 2,688

      Do we want back in? I thought TPP was one of the issues that cost Clinton the election.

      Let this radicalize you rather than lead you to despair - Mariame Kaba

    • #378559
      soryang
      Participant
      • Total Posts: 714

      One of the important considerations for Japan is always trade. If they feel the maritime and territorial disputes are somewhat quiescent, they will let LDP leaders who are primarily interested in making money take the foreign policy lead with China. This is a very “sophisticated” approach to compartmentalize the geopolitical disputes in order to make money. It is somewhat ironic because the US is carrying their water, so to speak, in the East China Sea. The tension in the South China Sea is also something that favors Japanese geo-political interests vis a vis China. So in a sense, they are having their cake and eating it too.

      As for South Korea, they really aren’t interested in the US-Japan alliance against China. I saw the state dept posted a joint release from S.Korea and the US today. It really was a lot of boilerplate about the Indo-Pacific to save face. Korea isn’t going to take huge economic hits in Chinese trade losses simply to satisfy US “you’re with us or agin us,” simpleton politics. They learned their lesson from their billions in losses in Chinese trade after the US THAAD deployment. Instead of mitigating their losses the US tried to screw them in a new trade deal, and then attempted to extort a four hundred percent increase in their share of US military cost sharing which for S. Korea is an alliance against North Korea not China. You can’t make this stuff up it’s so bad.

    • #378613
      eridani
      Participant
      • Total Posts: 6,961

      The big objection to TPP was that patent monopolies were preserved for drug companies.  Maybe that’s why India stayed out?

      Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction

    • #378622
      Captain Arizona
      Participant
      • Total Posts: 263

      America needs to keep jobs not send them overseas. Trading with themselves will get old in a hurry and will force america to make things here again. And to the multi-national corporations, silicon valley and their donor class free traders do you want cheese with that whine?

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