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.
  • finitebanjo@lemmy.worldEnglish
    391·
    3 months 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.

    • overload@sopuli.xyzEnglish
      102·
      3 months 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.

      • finitebanjo@lemmy.worldEnglish
        52·
        3 months 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

          • finitebanjo@lemmy.worldEnglish
            11·
            3 months 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.”

            • jaybone@lemmy.worldEnglish
              51·
              3 months 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.

        • Blackout@fedia.io
          24·
          3 months ago

          Absolutely incorrect. Their economy was growing in leaps and bounds until the great recession. Even after it has still grown 2-3x ours. The issue is longevity of it and the inability to produce as lucrative a consumer market as the western nations.

      • Match!!English
        31·
        3 months ago

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

    • FuglyDuck@lemmy.worldEnglish
      41·
      3 months ago

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