China’s Foreign Minister, Wang Yi, is reported as wanting to complete the RCEP trade deal “at an early date”. The economic driver for the deal remains the same as ever. Chinese export growth to the RCEP countries outstripped that of its shipments to the rest of the world for 27 months until February. It will want to ensure it can resume and improve this growth through greater market access. Yet, the risks of an inward focus for China ahead of October’s National Congress, combined with an emerging – but unlikely – trade-and-security spat with South Korea may make this difficult.
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