RCEP: A Crucial Milestone in Mega-Regionalism

... original version of TPP. Furthermore, RCEP given its scale may take on the leading role in establishing a global coordination platform for regional integration arrangements, something that has been lacking in the global economic architecture and the global economy’s response to the current crisis. For Russia and the Eurasian Economic Union, the creation of RCEP is both a challenge and an opportunity. It is a challenge because staying outside of such a mega-bloc involves losses in terms of trade diversion and possibly investment flows. The good news, however, is that given the inclusive and open-ended nature ...