A new year, a new decade and a new trade agreement and this time it does not involve the US…..this agreement is between Japan, China and South Korea……a bloc that could challenge the US….on the trade front.
The trade ministers of China, Japan and South Korea agreed to work towards a regional trade pact and a trilateral free-trade deal on Sunday.
The agreement was reached despite the recent bitter quarrel between Tokyo and Seoul and the uncertainty caused by China’s ongoing trade negotiations with the United States, as well as the threat of North Korea resuming nuclear tests.
The ministers did not announce any concrete results after Sunday’s talks in Beijing, but they voiced their willingness to continue discussions on the – which also includes the Asean group of countries, Australia, India and New Zealand – as well as the three-way free-trade deal.
Will this trade bloc go unnoticed by Trump or will he use the power of sanctions (his preferred technique to punish other countries) to retaliate?
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That Asian trading agreement could seriously affect the current trade with the west. They could be moving toward a new tip of the balance in world business affairs.
Best wishes, Pete.
That tip has been slowly being formed for a couple of decades…..this could make it a strong trading bloc…..chuq
Those three countries surround North Korea. Their alliance could bring stability to the region. Could be a step toward progress in the North Korea situation.
China is looking for blockers to the expansion of the US into Eastern Asia….chuq