Expectations of the eventual demise of the
The U.S. and 11 countries in the Pacific region last yearreached an accordon the TPP deal to liberalize trade among the participating countries and set common standards and cut barriers. President Barack Obama's trade office has however suspended its effort to pass the deal before Trump takes office.
China, the world's second-largest economy is the key driver of the Regional Comprehensive Economic Partnership (RCEP), a trade deal between the 10 member states of the Association of Southeast Asian Nations (ASEAN) plus regional trading partners including Australia, China, India, Japan, New Zealand and South Korea.
Beijing is already gearing up to push the RCEP more aggressively as the East Asian giant takes on a growing regional leadership role.