East Asia will become the new center of global trade(3)

According to estimates by the United Nations Conference on Trade and Development, RCEP is expected to increase intra-regional trade by about 4.8 trillion yen (approximately RMB 265 billion), pointing out that East Asia "will become the new center of global trade."

It is reported that the Japanese government is looking forward to RCEP. The analysis of the Ministry of Economy, Trade and Industry and other departments believes that RCEP may push Japan's actual GDP by about 2.7% in the future.

In addition, according to a report on the website of Deutsche Welle on January 1, with the official entry into force of RCEP, the tariff barriers between the contracting states have been significantly reduced. According to information released by the Ministry of Commerce of China, the proportion of products with immediate zero tariffs between China and ASEAN, Australia, and New Zealand all exceeded 65%, and the proportion of products with immediate zero tariffs between China and Japan reached 25% and 57%, respectively. RCEP member states will basically realize that 90% of their commodities enjoy zero tariffs in about 10 years.

Rolf Langhammer, an expert from the Institute of World Economics at Kiel University in Germany, pointed out in an exclusive interview with Deutsche Welle that although RCEP is still a relatively shallow trade agreement, its volume is very huge, covering multiple manufacturing Industry power. "It gives Asia-Pacific countries a chance to catch up with Europe and realize the huge intra-regional trade scale of the EU's internal market."