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How RCEP will boost Asian integration in trade, supply chains and strategic ties Aidan Yao Workers make shoe insoles at a factory in Zibo, eastern Shandong province, on November 27. The unified rules of origin in the Regional Comprehensive Economic Partnership provide preferential treatment to components sourced within the bloc, encouraging members to share supply chains and keep manufacturing capacity in Asia. Photo: Xinhua
The recent signing of the Regional Comprehensive Economic Partnership (RCEP) between Asia-Pacific nations marks an encouraging reversal to the rising trend of trade protectionism and deglobalisation. The deal has created the world s largest trading bloc that accounts for roughly a third of the world s population, gross domestic product and trade volume, helping accelerate the regional economic integration in the Asia-Pacific region.