New Delhi blocks Beijing on RCEP

CHINA FINANCIAL - Report 04 Nov 2019 by Michael Pettis

​Special points to highlight in this issue:

While India’s rejection of the Regional Comprehensive Economic Partnership (RCEP) agreement at the summit meeting in Bangkok seems to have come as a surprise, as the main trade deficit member in a world of weak demand it is hard to see how India would have benefitted from participation in what is otherwise mainly a union of trade surplus nations.
Even with India’s participation it was never clear to me that the RCEP was likely to provide much beyond wishful thinking on the commitment of its members to a world of free trade, but without India, this will have become harder than ever.

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