Economy & Politics

The economic heavyweights of the new Asian economic zone

Not only Friedrich Merz (CDU) overcomes uneasiness when looking at the new Asian free trade zone. While the European Union is arguing with Great Britain over tariffs and trade rules in Brexit, the largest free trade area in the world has formed on the other side of the globe. China and 14 other Asia-Pacific countries agreed the Regional Comprehensive Economic Partnership (RCEP). It comprises 2.2 billion people and around a third of global economic output, as reported by the “Tagesschau”.

Who dominates the largest free trade area in the world?

The new super-economic zone is not only made up of Asean states. In the ongoing conflict with the United States, China was also able to win traditionally close allies of the United States. Observers have taken this as a sign that even after Donald Trump’s presidency, Washington is perceived internationally as an increasingly unreliable partner. Even old companions prefer to secure their place in the (new) global economic order with new alliances.

Without question, China is setting the tone in the RCEP. However, this does not apply when it comes to the actual economic output per inhabitant. Let’s take a closer look: In terms of gross domestic product (GDP) per capita, these countries are the strongest members of the new super free trade area in the Asia-Pacific region.

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