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SCMP Editorial
SCMP Editorial

Editorial | While the US rants, the rest of the world is working on free-trade deals

  • As the Trump administration moves towards protectionism, nations elsewhere are seeking solutions to shore up multilateralism

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RCEP nations have 29 per cent of global trade and 32.5 per cent of investment. Through striking a free-trade deal, they would be sending a powerful message to Trump while protecting multilateralism. Photo: Chinatopix via AP
SCMP Editorial

The World Trade Organisation-based global order that the United States helped put in place is threatened by the unilateral policies of American President Donald Trump’s administration.

Governments not used to the burden of leadership are searching for ways to fill the void, and two agreements – one in Asia, the other in Europe – offer hope.

The more significant of the two, Asia’s Regional Comprehensive Economic Partnership (RCEP), moved closer at a recent meeting in Beijing towards the goal of creating the world’s largest free-trade area by the end of the year.
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Every effort should be made to meet the target; it would support multilateralism while being a bulwark against Washington’s protectionism.

Chinese Vice-Premier Hu Chunhua speaks at the opening ceremony for a meeting of 16 Asia-Pacific countries in Beijing on Sunday, aimed at concluding the Regional Comprehensive Economic Partnership agreement. Photo: Kyodo
Chinese Vice-Premier Hu Chunhua speaks at the opening ceremony for a meeting of 16 Asia-Pacific countries in Beijing on Sunday, aimed at concluding the Regional Comprehensive Economic Partnership agreement. Photo: Kyodo
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Vice-Premier Hu Chunhua said at the meeting that negotiations had reached a key stage.

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