RCEP: a strategic opportunity for multilateralism

Date

2021

Authors

Drysdale, Peter
Armstrong, Shiro

Journal Title

Journal ISSN

Volume Title

Publisher

Routledge, Taylor & Francis Group

Abstract

East Asia’s Regional Comprehensive Economic Partnership (RCEP) agreement was concluded in a time of heightened uncertainty in the global economy and in the middle of the largest economic downturn in almost a century from a pandemic-induced global recession. The agreement consolidated the 10 member ASEAN’s free trade agreements with Australia and New Zealand, and the three northeast Asian economic powers China, Japan and South Korea. RCEP's economic cooperation agenda incorporates ASEAN processes which go beyond helping countries to implement the agreement and has potential to expand cooperation to new areas. This economic cooperation process makes RCEP a living agreement that can serve the needs of members as they evolve. It can also be used to embrace non-RCEP members, especially India, around particular agendas. The agreement is an important opportunity for China to use the RCEP framework to trial reforms and demonstrate its commitment to broader international multilateral liberalisation and economic cooperation.

Description

Keywords

International economic integration, East Asia, multilateral trade order

Citation

Source

China Economic Journal

Type

Journal article

Book Title

Entity type

Access Statement

License Rights

DOI

10.1080/17538963.2021.1937092

Restricted until

2099-12-31