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15-11-2020, 09:14 AM
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World's Largest Trade Deal Signed Today

The largest trade deal in history has been signed with 15 countries including Australia agreeing to the pact, which covers 30 per cent of the global economy.

Leaders agreed to terms on the Regional Comprehensive Economic Partnership (RCEP) at the Association of South-East Asian Nations (ASEAN) summit in Bangkok last year, and signing on the dotted line happened this afternoon in a virtual meeting.

The countries involved are Australia, China, Japan, South Korea, New Zealand and the ten members of ASEAN, including Indonesia and Vietnam.

The RCEP pact, which has taken eight years to negotiate, surpasses the Trans-Pacific Partnership (TPP) in scale after the United States pulled out of that agreement under the Trump Administration.

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15-11-2020, 10:13 AM
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Re: World's Largest Trade Deal Signed Today

Originally Posted by Bruce ->
The largest trade deal in history has been signed with 15 countries including Australia agreeing to the pact, which covers 30 per cent of the global economy.

Leaders agreed to terms on the Regional Comprehensive Economic Partnership (RCEP) at the Association of South-East Asian Nations (ASEAN) summit in Bangkok last year, and signing on the dotted line happened this afternoon in a virtual meeting.

The countries involved are Australia, China, Japan, South Korea, New Zealand and the ten members of ASEAN, including Indonesia and Vietnam.

The RCEP pact, which has taken eight years to negotiate, surpasses the Trans-Pacific Partnership (TPP) in scale after the United States pulled out of that agreement under the Trump Administration.
Can we (the uk) play? I think we're on the lookout for someone to trade with.
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15-11-2020, 10:31 AM
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Re: World's Largest Trade Deal Signed Today

Originally Posted by d00d ->
Can we (the uk) play? I think we're on the lookout for someone to trade with.
I have no idea how the UK would fare if they wanted to join, all these countries are already trading together and have some agreements in place (eg ASEAN). Negotiations are still going on with India for them to join so it is an ongoing process but these things take years because there has to be a lot of give and take.
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15-11-2020, 10:41 AM
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Re: World's Largest Trade Deal Signed Today

The TPP failed because the US wanted direct access to what they consider the golden goose, the NHS. The US wanted to have their health insurance companies have access to the NHS to win contracts and if they didn't get them, they should be allowed to sue the Government. THIS is why the TPP failed and it will always fail if the US demand access to the NHS as part of any trade deal.
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15-11-2020, 11:18 AM
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Re: World's Largest Trade Deal Signed Today

Originally Posted by Dodge ->
The TPP failed because the US wanted direct access to what they consider the golden goose, the NHS. The US wanted to have their health insurance companies have access to the NHS to win contracts and if they didn't get them, they should be allowed to sue the Government. THIS is why the TPP failed and it will always fail if the US demand access to the NHS as part of any trade deal.
Britain wasn't ever a part of the TPP so that is extremely unlikely. The TPP was between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the United States.

Australia does have big trade agreements in place with the USA and they have tried to get access to the Medicare Pharmaceutical Benefits Scheme during negotiations but have been told very firmly "No". Agriculture is the main stumbling block in negotiations with the USA not Pharmaceuticals or Healthcare.
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15-11-2020, 12:18 PM
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Re: World's Largest Trade Deal Signed Today

China ....... hmmmm
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15-11-2020, 12:45 PM
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Re: World's Largest Trade Deal Signed Today

China will very soon be the world's most powerful nation.
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15-11-2020, 01:05 PM
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Re: World's Largest Trade Deal Signed Today

Originally Posted by d00d ->
Can we (the uk) play? I think we're on the lookout for someone to trade with.
We already are - or have you just not been paying attention?

We have a deal with Juapan & Canada are ready for a deal too.
Both are CPTPP members, & the UK is well-progressed in talks to join.

So despite your imagination the UK is getting things done.
TBH it's the USA that are out of touch in that part of the world.
It makes getting a trade deal with global #6 like the UK seem a bit more important now for the USA.
And for the EU.
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15-11-2020, 01:20 PM
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Re: World's Largest Trade Deal Signed Today

Originally Posted by The Artful Todger ->
China will very soon be the world's most powerful nation.

We should never have let it become an WTO member.
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15-11-2020, 02:11 PM
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Re: World's Largest Trade Deal Signed Today

Originally Posted by Bread ->
We should never have let it become an WTO member.
Like we had any say in the matter!

The UK an insolvent offshore island trying to box so far off our weight as to be laughable.

Were it not not the finance sector and continually issuing Gilts plus an escalating housing sector dragging in under the radar foreign money to fund mortgages to further expand the economy the UK would have been in queer street decades ago.
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