The RCEP is the world's largest free trade agreement by GDP of its members.
  • India’s commerce and industry minister ruled out the idea of joining the Regional Comprehensive Economic Partnership, maintaining that it is not in the country’s interest to be part of a free trade agreement with China.
  • “It was not in our farmers’ interest, RCEP did not reflect the aspirations of our small and micro medium industries and sector, and in some form, was nothing but a free trade agreement with China,” Piyush Goyal said.
  • The RCEP is the world’s largest free trade agreement by GDP of its members.
  • @finitebanjoEnglish
    31•7 hours ago

    I realize how obvious this statement is to most people, but Xi has become incredibly arrogant and China as a whole is setting itself up for a massive economic downturn.

    • FuglyDuckEnglish
      3•3 hours ago

      I’m still trying to figure out how evergrande hasn’t collapsed into the cesspit

    • @[email protected]English
      3•3 hours ago

      I don’t necessarily disagree, but journalists have been printing articles that the downfall of China is right around the corner since the 90’s. Maybe I’m extrapolating your statement a little far though.

      • Match!!English
        2•2 hours ago

        If anyone can read Chinese, I’d love to see the SCMP or whoever saying that America’s economic collapse is imminent

      • @finitebanjoEnglish
        1•2 hours ago

        TBF leading up to the late 90s was unprecedented growth and development in China. They went from over 8 in 10 people in extreme poverty to less than 2 in 10 from the end of WWII to the late 1980s.

        So things certainly did slow down for them after the western world began cutting trade ties with them in response to Tiannanmen Square

        • @jayboneEnglish
          1•2 hours ago

          Uh how much trade have we cut in response to tiannanmen square?

          • @finitebanjoEnglish
            1•1 hour ago

            Let me just add up…

            Carry the 5 minus the 1…

            Somewhere between the number of steps Stephen Hawking did not take and the number of individual bacteria that do not live on the surface of the moon number of trades.

            Jokes aside, after the 1989 massacre, Arms trade to China and Textile trade from China to the USA came to a screeching hault with many other nations following suit. It wasn’t until the Bush administration that the USA resumed regular trade with China, and a couple negotiations from the Clinton admin. The relation since then has very often been described as a “Trade War.”

            • @jayboneEnglish
              3•1 hour ago

              Seems like there’s more shit from China now than there ever was in the 90s. But that’s anecdotal and from memory of my personal experience.

              Edit: which I guess aligns with what you said.