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RCEP

China & RCEP

In light of the current geopolitical scenario wherein the China-USA rivalry is playing out in the Asia-Pacific, the RCEP holds great significance for Beijing and for foreign investors.

Economic isolation

Unfair competition always hurts, but the real issue is whether we have done enough to make our industries internationally competitive to expand our export base. The protection provided to domestic firms against competition only leads to inefficiency, making unproductive firms survive at the cost of more productive ones.

Not by stealth alone

Despite his bonhomie with Beijing, Mr Narendra Modi said as much after refusing to put ink to paper, expressing dissatisfaction over the lack of openings that Indian services and producers would find after the deal, while conceding that India believes in “a mutually beneficial RCEP”.

Concert of Asia

The biggest takeaway of the summit is the vision document 'ASEAN's Outlook on the Indo-Pacific‘ that was issued. This has been widely welcomed. The document recognizes that Indo-Pacific is a seamless maritime space, one that encompasses the Asia-Pacific and Indian Ocean regions and is a ‘closely integrated and interconnected region'.