This new 15 member trade bloc comprises 30% of the world’s population. While economic benefits for China will be modest, from a geo-political aspect, this is a coup for China and will greatly enhance their standing and influence in the Pacific and Indian Ocean regions.
The Regional Comprehensive Economic Partnership.
Thankfully, my own company has plenty of presence inside most of the countries of this new pact and will be able to benefit from it. Companies with no such presence will be at a distinct disadvantage.
When Trump and Wilbur Ross started messing with China I feared that it would not work out well.
What has been strange is how quiet WalMart has been the last four years. So I assume that they were not hurt much by the trade war with China. There were some reverberations that came from the EU becoming the centralized purchasing power. Will we see the same thing here? More leverage for China in the region for sure.
Until their people eventually turn on them and they will. Middle class and wealthy people are bad news for tyranny. Easy to keep your foot on the neck of peasants, not so easy with educated middle and upper classes.
Biden said he would be tougher on China than Trump was, if he sticks to his words. A country can’t compete when it’s free market labor vs slave labor.
So you really want to be part of the trade block that has 1.1 million minorities locked in concentration camps, excludes blacks from eating at many restaurants, by far and away one if not the most racist country in the world, any movie with a black star they will either remove them from the poster or shrink their image.
Scenes like this are and everyday occurrence when a Kenyan worker gets out of line he gets beat by Big Boss Man #43.
No more trade with the largest bloc of consumers on the planet does sound like an amazing idea. I see why you think Peter Navarro and the cable TV guy who denied the Great Recession was happening as forty percent of the world’s wealth vanished are economic geniuses.