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...

This article is free to read if you register or sign in.

If you have already registered or subscribed, please sign in to continue.

Questions or problems? Email or call 0860 52 52 00.