China and 14 other nations signed the free trade agreement together. India has not joined this. A significant development took place in Asia. Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade agreement, encompassing nearly a third of all economic activities. It can be seen as China’s growing power. The Regional Comprehensive Economic Partnership includes 10 Southeast Asian economies along with China, Japan, South Korea, New Zealand and Australia. The group makes around 30 per cent of the world’s total GDP.

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