Asean countries agree to conclude RCEP negotiations

[Arulmozhi Varman]

Lol. China won't open her Economy, Malaysia won't, Indonesia won't, Vietnam wont, NZ won't to strong components of Indian economy. but will want India to open everything up for dumping. The decision to pull out was right. Cos not even 20% of India's concern was accommodated. China is sitting on Indian pharmaceutical imports even though it's FDA approved plants for years nor will they open up.

ASEAN is now going to become new dumping ground for Chinese goods. Companies which want to relocate to other ASEAN countries due to Wuhan virus and US trade war will now sit tight in China. I won't be surprised Witt nrw economic situation rcemp will be postponed to atleast 2 years.

 

[Song Hong]

India afraid of China flooding their market.

Lol. China won't open her Economy, Malaysia won't, Indonesia won't, Vietnam wont, NZ won't to strong components of Indian economy. but will want India to open everything up for dumping. The decision to pull out was right. Cos not even 20% of India's concern was accommodated. China is sitting on Indian pharmaceutical imports even though it's FDA approved plants for years nor will they open up.

ASEAN is now going to become new dumping ground for Chinese goods. Companies which want to relocate to other ASEAN countries due to Wuhan virus and US trade war will now sit tight in China. I won't be surprised Witt nrw economic situation rcemp will be postponed to atleast 2 years.

 

[donkeykong]

Lol. China won't open her Economy, Malaysia won't, Indonesia won't, Vietnam wont, NZ won't to strong components of Indian economy. but will want India to open everything up for dumping. The decision to pull out was right. Cos not even 20% of India's concern was accommodated. China is sitting on Indian pharmaceutical imports even though it's FDA approved plants for years nor will they open up.

ASEAN is now going to become new dumping ground for Chinese goods. Companies which want to relocate to other ASEAN countries due to Wuhan virus and US trade war will now sit tight in China. I won't be surprised Witt nrw economic situation rcemp will be postponed to atleast 2 years.

You realise that India is the most likely place a new pandemic is going to start from right? All the world experts agree with that.

Why would they want to risk that

 

[Arulmozhi Varman]

You realise that India is the most likely place a new pandemic is going to start from right? All the world experts agree with that.

Why would they want to risk that

As long as we don't eat anything that crawls on earth Indians should be fine.
#dogeaters

India afraid of China flooding their market.

Yes we are.

 

[donkeykong]

As long as we don't eat anything that crawls on earth Indians should be fine.
#dogeaters



Yes we are.

its got nothing to do with what you eat you realise that? Or are the rumours of low IQ Indians proven true?

 

[Song Hong]

India should not join RCEP. Culturally and anthropologically, too far apart. India will make RCEP lame duck. And Australia and New Zealand should not be there also.

Best is ASEAN Plus Three aka China Japan South Korea.

Instead, India should form something like South Asian Block. But Indian make ALL south Asian nations her enemy. So India cant form anything. So it never going to happen.

And we should never form anything with India. They always ask and dont give.

 

[Indos]

Lol. China won't open her Economy, Malaysia won't, Indonesia won't, Vietnam wont, NZ won't to strong components of Indian economy. but will want India to open everything up for dumping. The decision to pull out was right. Cos not even 20% of India's concern was accommodated. China is sitting on Indian pharmaceutical imports even though it's FDA approved plants for years nor will they open up.

ASEAN is now going to become new dumping ground for Chinese goods. Companies which want to relocate to other ASEAN countries due to Wuhan virus and US trade war will now sit tight in China. I won't be surprised Witt nrw economic situation rcemp will be postponed to atleast 2 years.

ASEAN countries have already had effective FTA with China since 2012. You can try to google ASEAN-China Free Trade Agreement on the net.

 

[Viet]

ASEAN countries have already had effective FTA with China since 2012. You can try to google ASEAN-China Free Trade Agreement on the net.

RCEP without India makes no sense.

 

[Indos]

RCEP without India makes no sense.

I understand with India reluctant. With current condition without any FTA with countries like China and it means local industry get much better protection from imported goods compared to ASEAN nations, India already get huge trade deficit.

Any FTA agreement with China will usually give a shock to local industries that is also experienced with Indonesia industry. I think India doesnt want to experience such thing and they will try to protect their local industry by not signing up with the agreement.

 

[Viet]

I understand with India reluctant. With current condition without any FTA with countries like China and it means local industry get much better protection from imported goods compared to ASEAN nations, India already get huge trade deficit.

Any FTA agreement with China will usually give a shock to local industries that is also experienced with Indonesia industry. I think India doesnt want to experience such thing and they will try to protect their local industry by not signing up with the agreement.

India joining a FTA with China included is economic suicide. Manufacturing in India won’t survive. Only working if hefty import restrictions are put in place, yes, as seen in Indonesia.

 

[rott]

India skips another round of RCEP trade talks

TOKYO (Kyodo) -- India sat out the latest round of negotiations for an envisioned 16-nation regional free trade agreement, a diplomatic source said Friday, fueling speculation that it may withdraw from the talks.

Senior officials from 15 other countries involved in the Regional Comprehensive Economic Partnership, a sprawling pact that would cover a third of the global economy, held a virtual meeting from Monday through Friday amid concerns over the novel coronavirus.

India skipped negotiations in Bali, Indonesia, in February, having said in November that it wants to pull out amid concerns that opening up its market would lead to a wider trade deficit with China.

The countries, including Australia, China, Japan, New Zealand, South Korea and the 10 members of the Association of Southeast Asian Nations, began talks in 2013 but have blown past consecutive deadlines to sign an agreement.

They are currently aiming to ink a deal by the end of the year, with Japan offering to help India resolve the "outstanding issues" keeping it from returning to the negotiations.

@Shantanu_Left What's your take on this?

 

[Paul2]

India joining a FTA with China included is economic suicide. Manufacturing in India won’t survive. Only working if hefty import restrictions are put in place, yes, as seen in Indonesia.

There is no indigenous manufacturing in India to begin with. All real deal factories there are ran by Japanese and Koreans. What little remaining is assembly from knockdown kits for products like appliances, cars, heavy machinery. Tata cars are 50% Chinese components. All of that would still make sense to do even after tariffs. I dealt with that myself.

The biggest enemy of Indian domestic manufacturing is India's own License Raj.

Cos not even 20% of India's concern was accommodated.

I think you should read more news

Was the deal not good enough? No! India got the best, and most incredible concessions out of everybody in writing:

• Labour mobility agreement — I have no idea how they strongarmed Singapore, Japan, and Korea on that, but they did it.
• Making Japan and Korea to pull pharmaceutical patent protection to open their markets Indian made generic medicines.
• A number of 5 and more years long custom duty handicaps for their domestic industry. This already included the diary industry, which allegedly was the biggest reason for pullout
• Specifically, all their last minute demands regarding new anti-dumping barriers, and letting nations to impose arbitrary temporary tariff, was already a subject of negotiations in 2015 round. India's Nov 2 demands were just unneeded rephrasing of them

 

[donkeykong]

India can't compete with china. Its like Somalia trying to compare with the Germans. Indians would lose their jobs first then their toilets second.

 

[Shantanu_Left]

@Shantanu_Left What's your take on this?

As someone living in SE Asia, I believe that India shouldn't join RCEP. The biggest challenge would come from not only China but also many emerging SE Asian countries like Vietnam, Indonesia, Thailand etc.

This is because there are hundreds of millions of poor people in India. And there are hundreds of millions of lower middle classes who don't earn enough. None of them would be able to compete against low wage Vietnamese, Thai's, and Laotians etc. So this means, their livelihoods will be lost and it will lead to mass starvation in the country. Do you want that? Nobody does.

So, you see, India does benefit from trade protectionism. You have no idea the extent of poverty that exists in the hinterlands of India. Unfortunately, that's not likely to change in my lifetime, at least.

However, I'm in favour of closer ties with China as well other SE Asian countries. But it should be on a 1:1 basis. Similar to how post-Brexit Britain will maintain trade relations with other European Union countries, although they don't really have that much of a reason to, unlike the Indians.

For Indians, it's really a matter of life and death of the poorest people in our country. So our decision-makers should think 100 times before they enter free trade agreements.

Of course, there are many rich assholes in India whose average income and standard of living is comparable to Western standards. So, this is the only market you should be focusing on, which is worth a competition.

These are my personal views only. I am sure there are other Indian economic experts who know better than me on this subject.

 

[rott]

As someone living in SE Asia, I believe that India shouldn't join RCEP. The biggest challenge would come from not only China but also many emerging SE Asian countries like Vietnam, Indonesia, Thailand etc.

This is because there are hundreds of millions of poor people in India. And there are hundreds of millions of lower middle classes who don't earn enough. None of them would be able to compete against low wage Vietnamese, Thai's, and Laotians etc. So this means, their livelihoods will be lost and it will lead to mass starvation in the country. Do you want that? Nobody does.

So, you see, India does benefit from trade protectionism. You have no idea the extent of poverty that exists in the hinterlands of India. Unfortunately, that's not likely to change in my lifetime, at least.

However, I'm in favour of closer ties with China as well other SE Asian countries. But it should be on a 1:1 basis. Similar to how post-Brexit Britain will maintain trade relations with other European Union countries, although they don't really have that much of a reason to, unlike the Indians.

For Indians, it's really a matter of life and death of the poorest people in our country. So our decision-makers should think 100 times before they enter free trade agreements.

Of course, there are many rich assholes in India whose average income and standard of living is comparable to Western standards. So, this is the only market you should be focusing on, which is worth a competition.

These are my personal views only. I am sure there are other Indian economic experts who know better than me on this subject.

Thank you for your opinion.