News Forum - The world’s largest trade bloc launches today – January 1, 2022

[Thaiger]

The new Asian regional trade pact, the Regional Comprehensive Economic Partnership, or RCEP, becomes effective as of today. The RCEP is the world’s biggest free trade agreement, larger than the EU, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the EU, the Mercosur trade bloc in South America, and the recent US-Mexico-Canada Free Trade Agreement.  RCEP includes all the ASEAN countries (Thailand, Singapore, Myanmar, Indonesia, Malaysia, Laos, Vietnam, Brunei, Philippines and Cambodia), plus Japan, South Korea, Australia and New Zealand. And China. India pulled out of negotiations last year because of concerns it would not be able to protect its […]

The story The world’s largest trade bloc launches today – January 1, 2022 as seen on Thaiger News.

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[Shade_Wilder]

 

The RCEP is the end result of one of the stupidest geopolitical public policy decisions ever made by a Western Power (in my view, BREXIT still takes the crown, but let's not go there today); the US could have cemented its global influence in Asia with the adoption of the TPP, but chose not to.

 

Whichever of the two agreements (RECEP/TPP) that was enacted first was always going to set the trade patterns for the Asia-Pacific Region for decades to come, and whichever agreement was enacted first would benefit its anchor member (US/China) as the biggest kid on the block always has the rules slightly slanted in their favour.

 

Given a choice, I would have preferred that the TPP had won; for all its many, many, many, many faults, the US is a better long-term partner than China. Simply put, Human Rights, Rules-based interactions, and Transparency are important and China doesn't seem to agree with that statement.

 

The question now for foreign policy wonks is this; how long will it take for China to make countries reliant enough on itself to enable China to dictate new terms and conditions at will? "China wouldn't do that!" I hear some say. S Korea allowed itself to become reliant on Chinese tourists, and in 2017 China cut off tourists visiting as a protest of the THAAD. 

 

Give me a reason to think that China won't use and abuse its influence another time. Seriously, one reason. The 'Goodness of it heart'? 

 

Asia is going to pay a price for this; short term economic gain (and there will be short-term economic gain) in return for gradual loss of decision-making sovereignty.

 

Time to learn Mandarin...

 

[Jason]

I really thought that after Covid it was more prudent to shift away from China. But if India is left out, there are possibilities with India in trade, indeed they are happening already.

[Farang-Ba]

Will tariffs on wine and beer imports be removed in Thailand?

[TopDeadSenter]

32 minutes ago, Shade_Wilder said:

The RCEP is the end result of one of the stupidest geopolitical public policy decisions ever made by a Western Power (in my view, BREXIT still takes the crown, but let's not go there today); the US could have cemented its global influence in Asia with the adoption of the TPP, but chose not to.

 

Whichever of the two agreements (RECEP/TPP) that was enacted first was always going to set the trade patterns for the Asia-Pacific Region for decades to come, and whichever agreement was enacted first would benefit its anchor member (US/China) as the biggest kid on the block always has the rules slightly slanted in their favour.

 

Given a choice, I would have preferred that the TPP had won; for all its many, many, many, many faults, the US is a better long-term partner than China. Simply put, Human Rights, Rules-based interactions, and Transparency are important and China doesn't seem to agree with that statement.

 

The question now for foreign policy wonks is this; how long will it take for China to make countries reliant enough on itself to enable China to dictate new terms and conditions at will? "China wouldn't do that!" I hear some say. S Korea allowed itself to become reliant on Chinese tourists, and in 2017 China cut off tourists visiting as a protest of the THAAD. 

 

Give me a reason to think that China won't use and abuse its influence another time. Seriously, one reason. The 'Goodness of it heart'? 

 

Asia is going to pay a price for this; short term economic gain (and there will be short-term economic gain) in return for gradual loss of decision-making sovereignty.

 

Time to learn Mandarin...

If diverse opinions are still allowed on forums? I would normally agree with this. But it is no longer true. The USA under Biden, after the mother of all disaster elections  (yes faking water leaks, sending observers home, pulling out boxes of Biden votes an repeatedly ramming them through the tabulating machines, total refusal and hysterical reactions to calls for audits, a POTUS unable to answer questions and press happy to play scripted question and answer routines, deep state political bodies falsely concluding the Biden laptop proving him a dirty career politician with questionable links to despots worldwide was RUSSIAN DISINFORMATION, big tech censoring inconvenient truths such as stating the factually true laptop was a real thing with the aim of misinforming the public, Presidents and senators interfering in jury and court matters like stating Rittenhouse was a murderer/white supremacist and needed to be found guilty etc etc) the USA is nowadays exactly like China. No difference in ethics or accountability or transparency. 

 Seeing as China is geographically closer and likely to become more powerful as opposed to a hopelessly divided USA in terminal decline this trade pact makes much sense. Helps that leaders of most Asian countries are ethnic Chinese also.

[astro]

4 minutes ago, TopDeadSenter said:

If diverse opinions are still allowed on forums?

I'd think so.

not so sure about deliberate off-topic misinformation, as in your post.

Edited January 1, 2022 by astro

[Poolie]

1 minute ago, TopDeadSenter said:

If diverse opinions are still allowed on forums? I would normally agree with this. But it is no longer true. The USA under Biden, after the mother of all disaster elections  (yes faking water leaks, sending observers home, pulling out boxes of Biden votes an repeatedly ramming them through the tabulating machines, total refusal and hysterical reactions to calls for audits, a POTUS unable to answer questions and press happy to play scripted question and answer routines, deep state political bodies falsely concluding the Biden laptop proving him a dirty career politician with questionable links to despots worldwide was RUSSIAN DISINFORMATION, big tech censoring inconvenient truths such as stating the factually true laptop was a real thing with the aim of misinforming the public, Presidents and senators interfering in jury and court matters like stating Rittenhouse was a murderer/white supremacist and needed to be found guilty etc etc) the USA is nowadays exactly like China. No difference in ethics or accountability or transparency. 

 Seeing as China is geographically closer and likely to become more powerful as opposed to a hopelessly divided USA in terminal decline this trade pact makes much sense. Helps that leaders of most Asian countries are ethnic Chinese also.

Wise words mate. Asia for the Asians. (And a few farangs, Aussies and New Zealanders.)

[Stonker]

30 minutes ago, TopDeadSenter said:

If diverse opinions are still allowed on forums? I would normally agree with this. But it is no longer true. The USA under Biden, after the mother of all disaster elections  (yes faking water leaks, sending observers home, pulling out boxes of Biden votes an repeatedly ramming them through the tabulating machines, total refusal and hysterical reactions to calls for audits, a POTUS unable to answer questions and press happy to play scripted question and answer routines, deep state political bodies falsely concluding the Biden laptop proving him a dirty career politician with questionable links to despots worldwide was RUSSIAN DISINFORMATION, big tech censoring inconvenient truths such as stating the factually true laptop was a real thing with the aim of misinforming the public, Presidents and senators interfering in jury and court matters like stating Rittenhouse was a murderer/white supremacist and needed to be found guilty etc etc) the USA is nowadays exactly like China. No difference in ethics or accountability or transparency. 

 Seeing as China is geographically closer and likely to become more powerful as opposed to a hopelessly divided USA in terminal decline this trade pact makes much sense. Helps that leaders of most Asian countries are ethnic Chinese also.

Lets not make this yet another Trump vs Biden thread. Everyone else knows it's a choice between clowns so let's leave it at that.

[Stonker]

1 hour ago, Shade_Wilder said:

... short term economic gain (and there will be short-term economic gain) in return for gradual loss of decision-making sovereignty.

 

Time to learn Mandarin...

Agreed with much (even most) of the rest, but you've overlooked the long term economic gain.

[AlexPTY]

larger that EU i doubt, but at least some movement forward. Thailand is one of the countries imposing absolutely crazy import tariffs

[Poolie]

3 minutes ago, AlexPTY said:

larger that EU i doubt, but at least some movement forward. Thailand is one of the countries imposing absolutely crazy import tariffs

Hmm..China itself possibly takes up any slack. Maybe the quality of biscuits will improve hereabouts.

[AlexPTY]

3 minutes ago, Poolie said:

Hmm..China itself possibly takes up any slack. Maybe the quality of biscuits will improve hereabouts.

360% tax on wine in Thailand, it's officially dropped, but retail prices are still the same. i am not worried about biscuits tho

[Poolie]

4 minutes ago, AlexPTY said:

360% tax on wine in Thailand, it's officially dropped, but retail prices are still the same. i am not worried about biscuits tho

Well call me self-invested but I drink little, Ive had one beer in 20 months. On the other hand I've eaten several times my own weight in biscuits.

[AlexPTY]

3 minutes ago, Poolie said:

Well call me self-invested but I drink little, Ive had one beer in 20 months. On the other hand I've eaten several times my own weight in biscuits.

you are my hero!

[Stonker]

1 hour ago, AlexPTY said:

360% tax on wine in Thailand, it's officially dropped, but retail prices are still the same. i am not worried about biscuits tho

Try Thai white wines - some aren't bad at all .

[Convert54]

33 minutes ago, Stonker said:

Try Thai white wines - some aren't bad at all .

But also historically subject to wicked tax !

[Stonker]

1 hour ago, Convert54 said:

But also historically subject to wicked tax !

You're right, but not any more.

[Convert54]

27 minutes ago, Stonker said:

You're right, but not any more.

Not any more? The  160% tax on local wine production has been reduced to how much?

[Rain]

6 hours ago, TopDeadSenter said:

If diverse opinions are still allowed on forums? I would normally agree with this. But it is no longer true. The USA under Biden, after the mother of all disaster elections  (yes faking water leaks, sending observers home, pulling out boxes of Biden votes an repeatedly ramming them through the tabulating machines, total refusal and hysterical reactions to calls for audits, a POTUS unable to answer questions and press happy to play scripted question and answer routines, deep state political bodies falsely concluding the Biden laptop proving him a dirty career politician with questionable links to despots worldwide was RUSSIAN DISINFORMATION, big tech censoring inconvenient truths such as stating the factually true laptop was a real thing with the aim of misinforming the public, Presidents and senators interfering in jury and court matters like stating Rittenhouse was a murderer/white supremacist and needed to be found guilty etc etc) the USA is nowadays exactly like China. No difference in ethics or accountability or transparency. 

 Seeing as China is geographically closer and likely to become more powerful as opposed to a hopelessly divided USA in terminal decline this trade pact makes much sense. Helps that leaders of most Asian countries are ethnic Chinese also.

Simply, historical cycles that come back around. 

Asia has always been the centre of influence - ebbs and tides, of course. 

And so reflected. 

[Stonker]

1 hour ago, Convert54 said:

Not any more? The  160% tax on local wine production has been reduced to how much?

AFAIK the cheap wines are tax exempt but the vagaries of the system mean the tax rate varies depending on the price per bottle - like imports, the more the bottle,  the higher the tax bracket.

A while since I talked to any vintners, though.

[Stardust]

8 hours ago, Jason said:

I really thought that after Covid it was more prudent to shift away from China. But if India is left out, there are possibilities with India in trade, indeed they are happening already.

The reality numbers are world trading shifts away from China and with a average of 80 usd per month China is a 3rd world development country. So no worry about this because their econonmy is not innovative and build on debts.

 

[Stardust]

1 hour ago, Stardust said:

The reality numbers are world trading shifts away from China and with a average of 80 usd per month China is a 3rd world development country. So no worry about this because their econonmy is not innovative and build on debts.

The realities show everything and all the failings