Tug of war over Asia trade deal

China and Japan are pushing different visions of a massive Asian trade pact that excludes the U.S. The Regional Comprehensive Economic Partnership will account for 30% of global gross domestic product


Association of Southeast Asian Nations

Nations that were part of Trans-Pacific Partnership (TPP) – scrapped by U.S. President Trump

RCEP nations


CHINA: Pushing for quick RCEP deal, mainly focused on lowering tariffs between ASEAN and its neighbours

AUSTRALIA, JAPAN: Want high-standard RCEP deal, covering services and investment.
To include tough TPP rules on intellectual property, government procurement and labour laws

INDIA: Reluctant to expose its markets to Chinese competition


CHINA

SOUTH KOREA

INDIA

JAPAN

MYANMAR

VIETNAM

LAOS

PHILIPPINES

BRUNEI

THAILAND

CAMBODIA

MALAYSIA

SINGAPORE

INDONESIA

AUSTRALIA

NEW ZEALAND


RCEP countries share of global GDP US$22.5 trillion

TPP share of global GDP $31.2 trillion


Sources: Japan Times, Financial Times, ERIA, Australia DFAT 

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