The establishment of the Regional Comprehensive Economic Partnership (RCEP) will contribute to significant changes in the global economy. It will have a considerable impact on regional supply chains and on the position of the PRC in the region. The agreement, although is primarily economic, brings about significant geopolitical changes. Contrary to the FTAs planned by the European Union or Canada, the RCEP does not provide solutions in the field of non-trade issues such as the natural environment, work standards or state-owned enterprises. This weakens the position of actors such as the EU and the US seeking to promote sustainable and responsible economic development.
KBN Analysis no. 3 (98) / 2022
17 January 2022
The establishment of the Regional Comprehensive Economic Partnership (RCEP) will contribute to significant changes in the global economy. It will have a considerable impact on regional supply chains and on the position of the PRC in the region. The agreement, although is primarily economic, brings about significant geopolitical changes. Contrary to the FTAs planned by the European Union or Canada, the RCEP does not provide solutions in the field of non-trade issues such as the natural environment, work standards or state-owned enterprises. This weakens the position of actors such as the EU and the US seeking to promote sustainable and responsible economic development.
Photo: Paweł Frankowski