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RCEP unlikely to benefit developing members in short term: analysts

GLOBAL BUSINESS
A man walks past stack of shipping containers in Singapore. Photo: Reuters/file
Reuters
Reuters
The Regional Cooperation Economic Partnership (RCEP) is unlikely to bring immediate significant benefits for its developing member countries in terms of flow of goods and services or major infrastructure investments, analysts and economists said.
The pact needs to be ratified by all countries, which may take time, and has different levels of tariff reductions for each country and product, the experts told the Reuters Global Markets Forum.
That means labour-intensive countries may get more imports than exports, particularly during the pandemic, over the short-term. ....

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Trade to be part of Biden's China strategy, not driving force: ex-USTR official | WSAU News/Talk 550 AM · 99.9 FM

By Divya Chowdhury
(Reuters) - Trade will be a part of President Joe Biden s overall negotiation policy with China, but it won t be the driving force in Sino-U.S. relations, as it was under former President Donald Trump, a former official at the Office of the U.S. Trade Representative (USTR) said on Wednesday.
There are fundamental differences on a host of issues between the United States and China that will be difficult to resolve, Wendy Cutler, former assistant trade representative at the USTR, told the Reuters Global Markets Forum.
The Biden administration would be pressured to engage on trade in the Asia-Pacific region by pacts such as the Regional Cooperation Economic Partnership (RCEP) in Asia, and China s Comprehensive Agreement on Investment (CAI) with Europe, said Cutler, who is currently vice president of the Asia Society Policy Institute. ....

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Trade to be part of Biden's China strategy, not driving force: ex-USTR official

Trade to be part of Biden's China strategy, not driving force: ex-USTR official ....

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