RCEP should be viewed with cautionhome/Business/Business Columns/RCEP should be viewed with cautionTHE end-stage talks to form the Regional Comprehensive Economic Partnership (RCEP), the Chinese counter to the now virtually dead Trans-Pacific Partnership (TPP), hit a few snags during this week’s Asean summit in Singapore, and will not be completed until next year at the earliest. The basic premise behind the RCEP, being a Chinese invention, is to provide a stable trade environment for China. China needs raw materials and agricultural products, and needs markets for its finished export goods and technology. On the face of things, the RCEP is a good deal for countries like the Philippines. Not taking part in the RCEP is probably impractical, as the Philippines will be at an even bigger disadvantage in terms of trade.

Source: Manila Times November 17, 2018 16:18 UTC