The leading power here is China, with the world’s biggest population and second-largest economy, which is now striving to establish its hegemony throughout the Pacific Rim. Taiwan, South and North Korea, and Japan are all groping for ways to resist Chinese expansion while maintaining strong economic ties with the region’s colossus.
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RCEP: A wake-up call for Europe to increase competitiveness
Through RCEP, Asian and Pacific countries have created the largest and most powerful trade zone in the world. Although there is no lack of geopolitical tension in the region, the member states have put aside political issues to prioritize economic growth. This could serve as an example for Europe, which has recently turned down a large transatlantic trade deal because of misguided and politicized fear-mongering. If the European Union wants to remain competitive, it will need a more pragmatic approach to trade.