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  • Beijing Review

    MARCH FORWARD

    Nov 26, 2020 4 minutes

    Song Qingrun, associate professor at the School of Asian Studies, Beijing Foreign Studies University

    RCEP countries have a combined population of 2.27 billion or about 30 percent of the world’s total. In comparison with the U.S.-Mexico-Canada Agreement (USMCA) and the EU, each of which covers around 500 million people, the RCEP offers more opportunities and greater market potential. Additionally, according to data from the International Monetary Fund, the total GDP of the 15 members reaches some $26 trillion, which is equivalent to or slightly higher than that of the three USMCA countries, and exceeds that of the EU.

    The new deal is significant for its inclusivity and the diversity of its signatories. While the EU

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