China's new initiative means the de facto end of the WTO

15 states of the Asia-Pacific region, led by the PRC, signed an agreement on the creation of a regional economic partnership. This deal will have very serious and far-reaching consequences, since de facto means the collapse of the American project and the rise of the Chinese one.

This is not the first integration project in the region. In 1967, the Association of Southeast Asian Nations (ASEAN) was created, which included 10 countries with a combined population of about 650 million people. And in 1989 in the Australian capital, an agreement was signed on the creation of the Asia-Pacific Economic Cooperation (APEC), which includes 21 states, including Russia. The participating countries account for 40% of the world's population, 44% of world trade and 54% of global GDP. However, in essence, APEC is rather an international forum, the goal of which is to form an open and free trade system in the Asia-Pacific region by 2020.

And now 2020 has come. After eight years of negotiations, a new integration association, RCEP, was born, about which we in detail told a few days ago. The comprehensive partnership brings together 1/3 of the world's GDP and a combined market of 2,2 billion potential consumers. According to experts, the removal or reduction of trade barriers can add to the global the economy $ 200 billion over the next ten years. At its core, it is a functional analogue of what the European Union grew out of. Tariffs, sanitary standards, trade and investment rules are being unified in all 15 countries of the new union. The goods produced in each of the parties to the agreement can be freely sold in all other 14 states. The creation of the RCEP is a fundamental step that will have serious consequences for the entire world order.

At first, this actually means the death of the WTO. The World Trade Organization was created at the suggestion of Washington on the bones of the USSR. Problems in this international structure have been outlined for a long time. Due to the large number of participants whose consent was required to make decisions, the WTO was extremely clumsy to manage. Many decisions have been delayed for years due to appeals and appeals. At the same time, well-founded criticism was expressed that the mechanisms of trade organization were used mainly to advance the interests of transnational corporations to the detriment of small countries.

President Trump can rightfully be considered the "gravedigger" of the WTO, since he began to interpret its rules in his own way and did everything to get the United States out of this structure. At the beginning of the year, representatives of European countries gathered in Stockholm to discuss the future of the World Trade Organization. Some proposed to reform it, others - to create some kind of new association. As you can see, China, the main adversary of the United States within the WTO, went its own way, creating its own regional organization instead of a clumsy global organization, which controls 1/3 of the world's GDP, and which it can effectively manage.

Secondly, the main point is the accession to RCEP of Japan, the Republic of Korea, Australia and New Zealand. Loyal allies, or "satellites", the United States preferred to go for economic integration with its direct competitor. It is especially worth paying attention to the position of Japan and South Korea. This is a very bold and demonstrative step, showing that Tokyo and Seoul are no longer ready to drag along the wake of Washington, neglecting their own interests. The choice in favor of cooperation with China may well be considered Japan's and Korea's refusal of the status of a "devoted vassal" and the transition to the notorious multi-vector policy.

The world is changing rapidly, and now a lot will depend on who wins in Washington, the "globalist" Joe Biden or the "imperial" Donald Trump, who will formulate the answer of the "hegemon" to China.
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  1. Sergey Latyshev Offline Sergey Latyshev
    Sergey Latyshev (Serge) 18 November 2020 13: 12
    Yeah ..
    In addition to the weekly end of the dollar soon, a new topic has appeared:
    An imminent end of the WTO.
    Will there be a weekly too?
    1. Yuri Nemov Offline Yuri Nemov
      Yuri Nemov (Yuri Nemov) 23 November 2020 10: 36
      Western media bury the ruble every day, Russia, the SCO, China ... so why should we be silent? This is called an information war, which is no less effective than a war with weapons in hand. Why should we play giveaway?
  2. Vladimir_ Voronov (Vladimir) 18 November 2020 17: 26
    Great news - China has turned from a competitor to the United States into an open enemy. As one expert said:

    Russia has a great opportunity to take the place of a wise monkey watching the fight between two tigers.

    For once!
    1. Barmaley_2 Offline Barmaley_2
      Barmaley_2 (Barmaley) 19 November 2020 02: 13
      This will not work. The United States and China consider the Russian Federation as their periphery. And in every possible way they are trying to prevent that it completely fell under someone and added a competitive advantage. At the moment, the Russian Federation DOES NOT HAVE the opportunity to pursue its line of building its relatively independent technological zone (for example, as the USSR had its own), but the Russian Federation is trying to get its "warmer place in the pyramid" in the future world order. There was an attempt to create with some European countries a single ek-th zone. Therefore, the Russian Federation will eventually have to join somewhere.
  3. Alexey Lan Offline Alexey Lan
    Alexey Lan (Alexey Lantukh) 18 November 2020 18: 17
    By the way, Russia did not join the new association. And she did the right thing.
    1. Jacques sekavar Offline Jacques sekavar
      Jacques sekavar (Jacques Sekavar) 18 November 2020 22: 46
      The doors to RCEP are not closed for anyone, not for the Russian Federation, not for the United States, or for anyone else.
      Another thing is important, the founding countries have agreed on the basic principles, and will agree on the rules, but without the participation of the Russian Federation or the United States.
      When the Russian Federation and the United States decide to join the RCEP, and there is no doubt about what they do, large Russian capital is vitally interested in integrating into the world economy, they will have to accept those RCEP or NSP rules that have been agreed and will be in effect.
      For the United States, this will mean not only the status losses as a world leader, but all others - economic, political, ideological, financial, legal, etc., etc.
      The world dictatorship of the United States will weaken, as a result of which the independence and influence of the EU will increase, which will contribute to the formation of three main world centers - China-USA-EU and several regional centers, the formation of which will make the world truly multipolar in fact.
      1. Essex62 Offline Essex62
        Essex62 (Alexander) 19 November 2020 08: 36
        And we are interested in the liquidation of large Russian capital. Only in this case will Russia be reborn as a world player.
  4. Jacques sekavar Offline Jacques sekavar
    Jacques sekavar (Jacques Sekavar) 18 November 2020 18: 33
    It is premature to bury the WTO, because in the absence of the United States, the main role is transferred to the PRC.
    The PRC not only supports the WTO, but also creates its own projects of global importance - the NSP, RCEP, against the background of which the expansion to Africa is lost.
    As for the friends of the United States, they, like all slaves, keep their nose to the wind as much as their master, the United States, allows them. The European slaves of the United States not only cooperate with the PRC on the NSP project, but also bite one another for especially tasty morsels, and obey the US master only when he threatens them with a stick-sanctions.
    Trump made attempts to consolidate friends, but did not bring it to the end, but whether “sleepy Joe” will continue it starting - we'll see. Anyway, it will not be easy for him to do this, 4 years of "get-together" is lost time.
  5. Barmaley_2 Offline Barmaley_2
    Barmaley_2 (Barmaley) 19 November 2020 02: 00
    it's all so funny. The United States and China are one medal, but from different sides. China does NOT have a soft power mechanism and can be an exclusively local superpower, but not a global one. That is, there is NO replacement for the United States at the moment. Plus China does not have a major component - the world reserve currency with all the structures for its promotion, etc. (before that, the GATT, which later replaced it, the WTO, is just one of the instruments of the still working Bretton Woods system, modernized in 1976 at a conference in Jamaica) and the same technological base as the United States. In fact, they complement each other and cannot yet To completely move away from each other. But! The mechanisms of the previous EC-model of world development are already concretely stalled, the world is physically "over" - there is nowhere for China to expand with its exports (and the attempt to develop the internal market over the past few years has brought little to the desired effect. Moreover, we do not trade with aliens yet), nor the United States with its most powerful structural imbalances, total "dollarization" everywhere, etc., and the most likely further development is an attempt to divide into very large ec-kie zones, which will already be limited to interact with each other. But a potential future competitor, competitive advantages in something. Thus, the United States will not go anywhere, and China will not replace the United States. And the response from the United States to China will be almost the same as that of Biden and Trump: an attempt to contain China in the first place. Form, etc. may differ, but the essence will be the same.