RCEP: The World’s Largest Trade Deal

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RCEP: Asia-Pacific countries form the world’s largest trading bloc, it covering nearly a third of the global economy. It officially signed on November 15, 2020.

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Members of the RCEP makeup nearly a third of the world’s population and account for 29% of global gross domestic product.

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Under RCEP, parts from any member nation would be treated equally, which might give companies in RCEP countries an incentive to look within the trade region for suppliers.

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It will boost not only Chinese economy and market but also global economy and market in many ways.

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1. RCEP will make a more standard rule for the countries in RECE area.

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2. RCEP will optimize Supply Chain Management and resource value in the area.

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3. RCEP can help foreign trade enterprises on overseas investment and brand building

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4. RCEP reduce or cancel custom duty in the area.

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For LED Display foreign trade, it also give the industry insiders more confidence. Because of epidemic in 2020, the global economic depression is still continuing. RCEP bring a more confident, birng and hopeful future, and show a correct direction of global economy.

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