Regional Comprehensive Economic Partnership

Regional Trade Deal with China for a New Digital Economy

Author(s): Abdur Razzaq * .

Pp: 132-145 (14)

DOI: 10.2174/9789815123227123010012

* (Excluding Mailing and Handling)

Abstract

The Regional Comprehensive Economic Partnership (RCEP) will be one of the most important free trade agreements in the history of the Asia-Pacific region and the world. Its objective is to improve trade ties across the Asian-Pacific region's economies. In the midst of the COVID-19 pandemic that has spread over the world, it has emerged as a topic that can have an influence on business. As China is one of the RCEP members that possesses a strong economic background, the country is innovating in the way it trades by taking advantage of the digital economy; even during the pandemic. It is apparent that China's economy benefits from this strategy to some extent. This study is an exploratory research using secondary data to investigate whether or not the RCEP will pose as a new economic platform in the Asia-Pacific region. The findings show that China's economy recovers partly due to the implementation of this digital system, becoming the world's first to do so. Throughout the outbreak of COVID-19, the country has demonstrated that it is inventive and capable of supporting its economy and speeding its development. The RCEP agreement will have a greater impact on China and on the participating members. 


Keywords: Asia-Pacific, China, Digital Economy, Regional Comprehensive Economic Partnership (RCEP).

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