The Geopolitical Impact of RCEP- Another Feather to the Chinese Crown?
Doubts have been raised whether RCEP can be a game changer for the region or not; due to many issues such as that, there already exists a good number of Free trade Agreements (FTAs) between these RCEP members (therefore RCEP is not adding something substantially new), some barriers and loopholes still remains, it does not offer any major breakthrough in new trade issues such as e-commerce. It will take some time to see the effects of RCEP, but surely the reduction of tariffs and non-tariffs will stimulate economic growth in the medium-long term. It will take some time to see how the member states benefit and reap the facilities of RCEP. But one impact is certainly visible if seen from the dynamics of geopolitics in the region, that at the moment, China has added an extra point in the game of strategic balance in Asia by clearly maintaining its dominance in the region.