Earlier this 12 months, the RCEP settlement – the most important commerce bloc ever created – went into impact. Is that this an actual breakthrough? Welcome to the subsequent episode of The 20s Report.
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00:00 Intro
00:49 Commerce Breakthrough?
06:02 Crouching Dragon
09:36 Life Past the Sino-American Rivalry
12:32 Outro
Analysis & evaluation: Hubert Walas
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Voiceover: Matthew Speidel
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Thing is. The Size of a Trade Bloc is not as Importand as what it actually contains.
3 Major Questions.
1.
Will the Countries actually Cooperate in Good Faith.
China does not exactly have a good Track Record on actually behaving in Good Faith in such Deals. Often Cheating or Abusing the Terms by giving their State Owned Companies big Advantages in China itself by allowing them to bypass or disregard Standards or by Actively hindering Import of other Countries Products or Blocking other Companies from expanding into China themselves.
Japan is similar. And will Generally be extremely Protective of their Companies and making it very Difficult for other Nations to enter the Market.
2.
Just how much does this Deal actually Cover.
Is this a Limited Free Trade Agreement where some Products may be Freed from Tarriffs ?
Is it a Free Trade Agreement where all Products and Services are Free of Tarriffs ?
Or is it a Customs Union in which Goods and Services can move completely unhindered ?
The EU for example is not as Big as the Trade Bloc in North America. But is actually much more Powerful. Because the EU is a Customs Union with Common Deals that either Include all EU Members or none.
This means that this Trade Bloc is really a Bloc. Its a United Power. You cannot divide it which gives it a Gigantic amount of Leverage.
But Japan for example has a Trade Deal with the EU. So apparently this new Trade Bloc is not as United.
3.
And this lead to the Final Question. The Diplomatic Side. How much of an Advantage is it to be inside this Trade Bloc compared to being outside the Trade Bloc.
An Agreement that plans to reduce or remove Tarriffs. Attain common Standards and Agree on Rules of Origin. Is Great. But its ultimately just a Declaration of the Intent to Cooperate. Its not even an actual Deal.
So staying on the Japan example. The EU has a Limited but still pretty extensive Free Trade Agreement with Japan.
So how does the Agreement of this Trade Bloc stand up to this ?
Is it better ? is it worse ?
Because otherwise it would make more sense to count Japan towards the EU as a Trade Bloc. As its Agreement with the EU is actually giving better benefits to each other.
Not to mention that it might pose a problem. Because the EU will not be happy if Japan gives advantages to the other Members of its Tradebloc thus making the EU less Competetive in their Market. But likewise the other ASEAN Members will likely Demand exactly this to happen. After all why be in a Trade Bloc if the Members have better Deals with another Trade Bloc ?
This is Ultimately the 3 Questions that need to be Answered to Ascertain wether this is a Global Gamechanger. Or basicly just a Declaration of Hot Air.
Good to see you left Taiwan outside of the Chinese map and as an outlying non-member. Taiwan is looking forward to be a CPTPP member.
Had to end the video with a lie, eh?
If trade is the engine of human development, where is the utopia? Why are there still wars? Why aren't we any better as a species than we were 2000, 4000 years ago? Where is the evolution, biological, social, or moral?
You should do a collaboration with Kanome and Caspian Report. You 3 do amazing work with Geopolitics videos
Once a technocat , I know by instinct that ordinary people really do not give a shit about ideaology. Employment, life qualty, etc., they the holy grails.
RCEP diperkasai oleh ASEAN mantap ASEAN! saatnya bangkit kembali!
An united Asia and united Africa are something the West fears the most, for they know there's no possibility of colonizing and controlling Asians and Africans, for they know they couldn't compete against emerging Asia and Africa in the long term.
Outdated data now china's economy crossed 18 trillion USD.
China will bring up their standard of living higher than the west. ASEAN is the Europe of South East Asia and China is sparing no efforts in bulwarking their own backyards.
If Chinese companies are out-competing and the trade agreement doesn't say one way or the other on state subsidies, maybe it'd behoove other members of the pact to imitate China's advantages to the best of their ability instead of being upset and throwing a tantrum over it like the western press seems to be doing? Westerners can't simultaneously claim their socioeconomic system is intrinsically better then get their teeth kicked in repeatedly on a not-level and in-their-favor playing field (monopoly companies in the west extract huge sums of subsidies from all levels of western government and also have years of accumulated advantage in R&D and technology in general). Either that or stop trying to enforce western economics on the developing world via inclusion in trade blocs if you don't want those countries to seek alternatives.
This bloc had better not become TOO successful, or the USA will start BOMBING them.
Well if they want to stop terror then they better invade Sulawesi as there is at least 10 terror camps operating there . Indonesia is moving it's capital to just across the water from Sulawesi , good luck with that .
Well if they want to stop terror then they better invade Sulawesi as there is several terror camps operating there . Indonesia is moving it's capital to just across the water from Sulawesi , good luck with that .
China could not join CPTPP because Australia blocked them because of the fact China uses trade as a control weapon and banns countries products out of spite so they got some spite back at them . Also the EU is a form of central Government dictating to it's members not just a trade block . RCEP is purely a trade deal without infringing on other countries way of life . China had to be involved because it's another layer of agreement that could help contain China's untrustworthy trade habits . One day India will supplant China in the deal . I'm sure if China stops it's , victimization , threats and insults Australia will happily withdraw it's objections .
as a kiwi, hell yeah bring on asia-pacific geopolitical and economic integration – NZ and AUS need to stop seeing themselves as outposts of anglo culture in the south seas, and concede to geographical reality.
if RCEP make their own currency,,
that will shake world economy
2:10 Why does it say UE for the European Union, but all other text including the narration is in English?
This looks like a logical continuation of a world trade system that was in the making for like last 20 years or so.
3 massive trading blocks — West Pacific, EU, and NA, with deep supply connections inside the blocks and trade outside being conducted mostly from hearts of the systems.
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yes, trade has historically been THE force driving human development forward … every place that was the epicenter of trade in history has seen their sciences arts and crafts fluorish unrivalled…that is why I struggle to understand when people protest against global trade deals…feable minds tend to fall under the spell of misinformation and manipulation
Several ASEAN countries will profit by reexporting Chinese goods and so China will profit. Non-ASEAN members cannot compete with China in price for manufactured goods. Even many of their food products cannot compete.
If one looks at India, Chinese mobiles outcompete others in cost – India can do nothing about it. Western countries can not compete with Chinese products. So they cannot afford a trade war with China
1) Many of the members are developing economy.
2) Despite the hypes of war, the region is actually peaceful and stable if you compare it to Africa, Middle East, Eastern Europe and Latin America.
3) If the Chinese are still the Chinese that I knew. There will be deals outside of the deal between China and the less developed members. Probably some technologies sharing, investment, infrastructure programs.
There's no trade agreement that goes as deep as the EEA and the EU is a whole different thing altogether it's more like a proto state
Seeing u did one on RCEP would like to hear Ur view on CPTPP
China Taiwan UK and South Korea all applied to join
I'm from ASEAN and we are not realistically going to grow economically that much except parts of Indo-China, India will probably be on the same level or slightly larger than ASEAN only due to the size of the population and with potential troubles in the US, South Korea and Japan will suffer the most in the RCEP zone.
Your maps of the Kashmir area are wrong, you do not show the actual controlled areas vs claimed area.
Maybe next time China should think twice before cheating SK out of its favorite pasttime… speed skating
Why are we allowing our allies to become Chinese vassal states?
Great piece 👍👍
Personally, the country that could potentially take advantages from all those economic agreements is Vietnam due to geopolitics, population( young dynamics), socialism( one party system) and the manipulation on its neighboring
The fact that Taiwan is not a member is definitely China's doing.
No one asking wtf is happening in the Malaysia footage at 5:21?? The cars are driving the wrong way on the highway with bicycles!
It was very interesting thank you.
Asia will be much better without imperilism and colonism by the West.
At 4:49, China's GDP is 18 trillion now.
It is another way of Chinese to Dump their Cheap products in other developing countries by using law and contracts like these as shield, it is a manufacturing powerhouse while other countries are either developing their Manufacturing capabilities or are in process of switching to more specialized goods, I am glad that India rejected this Treaty and we went on our own separate way, we already have favorable contracts with most of the member states, last thing we need to do is kill our own manufacturing for our enemies like China.
While the US drums up business for NATO and the DoD, this assault on the Bretton Woods system is decimating the US Empire.
WTF?? 50% of the world population will control 50% of world GDP . . .
NAH!! That's un-Amerikkkan
Seriously a USA closing off itself from the world is the only thing Vina dreams of and Donald Trump did it really well and current usa gov. With tru o hangover is still doing that , i am an Indian and seriosusly america is no more trust worthy ally they put huge tarrifs on us and trade barriers and not on china on a similar scale when instead they could have imported cheap manufacturing goods from us rather than China but trump just don't understand how to treat friends and foe they treated all the same and that leaves no insentive to be a friend of US , i belive rathar than counting on us to be our partner on standing against China we should just accept the Chinese supremacy and befreind the Chinese because they could know how to insentivise your friend and treat your allies .
Helle from Russia. Your channel is fantastic and someone Russian bloggers translate your video, like the channel Curiosity
Nobody likes China.
is india too underdeveloped to be a part of rcep
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The video is amazing. Just one thing, China's GDP is very outdated, not even by a close margin. Last year it surpassed 17.9 Trillion dollars (18 trillion). Is not 14 trillion. So the RCEP share of the worlds GDP is even more. Just that.
Stupid trump was allowed to destroy america's future by stupid american politicians and voters. So we eat the cake we asked for.
The USA is making a lots of mistakes these years and in the past, all they have done is empowering Asia, (Like when after WW2 they moved all their industries to China, they are just plain stupid) It's like a world hegemon giving away it's power lmfaoo!
America deindustrialized itself without need. The service dominated economy is an illusion. It creates only McJobs. Real wealth is created in factories. Small city states like Singapur may live of trade and services only, a large nation may not.