No we will not benefit much from this pact. It’s the Chinese that will make most profits from it. Tpp is a different story. We will benefit most, but only if the US joins it.
What we lack of is a security aspect. China is like a hooligan living next door, too dangerous to ignore. That is why we need the US security umbrella.
Economic wise we have no problem to hand over the region into the hands of Chinese. We follow our tradition we do so since hundreds of years.
It’s not a good thing though.
I see dark cloud coming on the horizon. We all will become economic slaves.
But your government disagree with your opinion.
They looks very happy to have market access to one third of World Population
https://e.vnexpress.net/news/busine...-world-s-largest-trade-pact-rcep-4192071.html
Opsss, my fault..you are south vietnamese which is the enemy of Vietnam today (North Vietnam).
So you will have opinion against the interest of North Vietnam
China-Led Mega Trade Bloc RCEP Takes Off
The Regional Comprehensive Economic Partnership (RCEP), a mega trade bloc comprising 15 countries led by China that came into existence on Sunday, said India would have to write expressing “intention” to join the organisation to restart negotiation for membership.
Also read: Asia forms world's biggest trade bloc, a China-backed group excluding U.S.
“The RCEP, which consists of the 10 ASEAN members and Australia, China, Japan, South Korea and New Zealand. The China-backed group is expected to represent at least 30% of the global GDP and will emerge as the largest free trade agreement in the world.
Modi’s silence
The mega trade bloc is a landmark trade initiative which is expected to boost commerce among the member-countries spread across the Asia-Pacific region. Prime Minister Narendra Modi addressed the ASEAN Summit on November 12 and highlighted the necessity for peace and stability in the region but maintained silence regarding RCEP, indicating India’s difficulty in welcoming the China-backed grouping. India’s ties with China in recent months have been disturbed by the military tension in eastern Ladakh along the LAC. In the meantime, India has also held maritime exercise with Japan, Australia, United States for the “Quad” that was interpreted as an anti-China move. However, these moves did not influence Japanese and Australian plans regarding RCEP. Experts are interpreting the beginning of RCEP as a major development that will help China and trade in Asia-Pacific region in the post-COVID-19 scenario.
Also read: India and ASEAN to expand trade despite RCEP walkout
‘Leverage for China’
“The agreement means a lot for China, as it will give it access to Japanese and South Korean markets in a big way, as the three countries have not yet agreed on their FTA,” said Amitendu Palit, Senior Research Fellow and Research Lead (Trade and Economics), at the Institute of South Asian Studies, National University of Singapore
. “The fact this happened, despite the pandemic, is certainly leverage for China, and shows the idea of decoupling from China is not a substantive issue in a regional sense.”
India had ended negotiation on RCEP last November over terms that were perceived to be against its interests. In May,
The Hindu had reported that according to senior official sources, concerns regarding China in the post-coronavirus world scenario had prevented Delhi from restarting negotiation for membership of RCEP. India did not return to the negotiation despite request from the RCEP members who have discussed the trade pact for nearly eight years.
https://www.thehindu.com/news/natio...tten-request-to-join-pact/article33102130.ece
From our indian friend
