China has just inked a free trade deal with 15 economies in the Asia Pacific region. The deal is called the Regional Comprehensive Economic Partnership- RCEP.
It creates a new free trade area with 2.2 billion people. That’s about 30% of the world’s population.
The combined GDP of the RCEP is estimated at $26 trillion. That is almost 28% of global trade if calculated using 2019 figures.
One noteworthy development is that US allies Japan and South Korea are a part of it. Australia and New Zealand are also in on the deal.
Continue reading “China, Others Create RCEP With GDP Of $26 Trillion”
The Nagorno-Karabakh war is very painful, more especially as it comes in the period of a difficult pandemic. Our thoughts go out to those caught up in the war.
We call for restraint on both sides and for conciliation. We remind the warring parties Armenia and Azerbaijan that under Article 2 paragraph 3 of the UN Charter, states have the obligation to settle their disputes peacefully.
In this difficult time when Covid-19 is creating existential puzzles in the world, both sides must embrace conciliation and consent to a peaceful resolution of the crisis. This is not a time for violent conflict… indeed there is no right time for a resort to arms.
We call on both sides to consent to the establishment of an independent fact finding mission to ascertain the facts that have led to the current crisis and proffer lasting solutions.
The European Union has thrown its weight behind Former Minister of Finance of Nigeria Dr Ngozi Okonjo Iweala, in her bid to become President of the World Trade Organisation.
Answer to Why is Russia opening a military base in Eastern Europe, Bosnia near NATO military installations? by Julien Philippe
France’s Macron has called for Europe to pick up a more independent defence strategy that depends less on the US.
We have stated on this site that Trump sees the US as the new West. The old Transatlantic West is frozen for now (perhaps till Trump leaves the White House).
The only West Trump is interested in is the US Mid West. Trump has replaced NATO with MAGA.