HANOI: Fifteen countries will on Sunday sign a sprawling Asian trade deal they hope will help them bounce back from the pandemic and which is seen as a huge coup for China in extending its influence.
The Regional Comprehensive Economic Partnership (RCEP) — which includes 10 Southeast Asian economies along with China, Japan, South Korea, New Zealand and Australia — will be the world’s largest trade pact in terms of GDP, analysts say.
The agreement to lower tariffs and open up the services trade within the bloc does not include the United States and is viewed as a Chinese-led alternative to a now-defunct Washington trade initiative.
The RCEP “solidifies China’s broader regional geopolitical…
