RCEP Agreement Brings Together China, ASEAN Members to Foster Multilateral Trade Cooperation Amid Rising Protectionism
Published on 4.16.25
The Regional Comprehensive Economic Partnership (RCEP) agreement has brought together 15 economies, including China and ASEAN members, to redefine trade liberalization in the face of rising protectionism. This development is significant as countries seek to diversify their global supply chains.
The RCEP's emphasis on multilateral cooperation stands in contrast to the current tensions between Japan and other nations. However, it serves as a beacon of hope for multilateralism, showcasing the potential for cooperation among regional middle powers like ASEAN. ASEAN's consensus-driven approach has fostered dialogue and collaboration among its member states.
The success of RCEP will be crucial in determining the future of international trade. If successful, these developments could pave the way for increased cooperation and reduced tensions among nations, while failure may exacerbate protectionism and hinder global economic growth.