Asia forms world’s biggest trade bloc, a China-backed group that excludes US

The deal puts China in a better position to shape the area’s trade rules and cut its dependence on other markets

15 November 2020 - 18:34 By Khanh Vu and Phuong Nguyen

Fifteen Asia-Pacific economies formed the world’s largest free trade bloc on Sunday, a China-backed deal that excludes the US, 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 US president Barack Obama, which his successor Trump exited in 2017...

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