China’s interest in DEPA digital trade pact raises questions about ‘domestic reforms’ and what could be the next big multilateral deal
- Analysts and trade experts weigh in on China’s bid to join yet another economic pact that could draw interest on a global scale
- DEPA is a dedicated digital trade agreement covering areas such as data e-commerce solicitations, e-documents, electronic identities, privacy and data retention
China’s bid to join the Digital Economy Partnership Agreement (DEPA) could put the country at the strategic forefront of world trade and provide an impetus for the formation of another major economic pact hot on the heels of other deals, such as the soon-to-launch Regional Comprehensive Economic Partnership (RCEP), according to trade experts.
But there are questions as to whether China can meet the high standards set forth under the DEPA, which is a dedicated digital trade agreement covering areas such as data e-commerce solicitations, e-documents, electronic identities, privacy and data retention.
Mirroring the genesis of the CPTPP and RCEP, the DEPA is attracting widespread interest and could soon become another major trade deal, analysts say. It has already replicated the origin of the CPTPP, which is the current iteration of the Trans-Pacific Partnership (TPP) first formed by a group of Asia-Pacific economies.
For quite a while, though, DEPA didn’t go anywhere. It took time for all three original members to even achieve entry into force. Then Canada mentioned it wanted to join. And now, suddenly, China