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The Regional Comprehensive Economic Partnership (RCEP)

Transcript of the above video:

As the title of this video suggests we are discussing the RCEP.  That is the Regional Comprehensive Economic Partnership and to just quote directly from a recent article I found via It is from Pepe Escobar in the Asia Times. Quoting directly: "Vietnam was the virtual host as the 10 ASEAN nations, (that is the Association of South East Asian Nations – that is me speaking, not quoting) plus China, Japan, South Korea, Australia, New Zealand signed the Regional Comprehensive Economic Partnership or RCEP on the final day of the 37th ASEAN Summit." Quoting further: "RCEP, 8 years in the making, binds together 30% of the global economy and 2.2 billion people." Now for those of you who are interested in this in more detail that is a great article. Again that is the Asia Times, Pepe Escobar, RCEP Hops on the New Silk Roads is the title.

The thing that I really want to make this video for is yes this this could be a major turn of events for Thailand economically. I think it is possible we could see Thailand economically being more shaped by Asia than perhaps in the past where there was a heavy Western influence. I think there will definitely still be a Western influence here in Thailand but the situation yes economically when you bind together 30% of the global economy in one trade block, that is going to have major implications for the member states. Now exactly how this plays out remains to be seen. That stated, I think it bodes very well for the economy here in Thailand longer term notwithstanding the fact we are certainly definitely in doldrums right now economically due to the response worldwide at the outbreak of COVID.

The thing to take away from this video is "yes I think there will be tremendous upside potential for Thailand economically as a result of being part of this trade block." It remains to be seen how a possible new administration in the United States may respond to this especially in light of the fact that at least the last 4 years the administration had scuttled things like the Trans-Pacific Partnership which seemed to kind of be operating, I won't say “at odds” but contemporaneously or contemporary to the developments associated with the RCEP.

Long story short, good news for Thailand. It may have tremendous implications for trading partners of Thailand and I think it is safe to presume that we may actually see new trading partners that Thailand has not previously had a great deal of interaction with coming to the forefront. So definitely exciting times and we will keep you updated on this channel as the situation progresses.