New trends in the global trade: TPP – pivot to Asia?
New trends in the global trade: TPP – pivot to Asia?

Summary/Abstract: The increasing number of free trade agreements, both bilateral and regional, was influenced by the deadlock in negotiations lasting for years in the WTO forum. The Trans- -Pacific Partnership (TPP), crucial for the global economy, which has been negotiated by 12 countries at different levels of economic, may have an influence on the shift of the global trade balance of power. The TPP is defined as a “pivot to Asia” corresponding with the movement of the economic development pole towards Asia, which has been taking place for a while now. The TPP agreement is to be balanced with the Regional Comprehensive Economic Partnership (RCEP) project. The project unites 16 countries belonging to the group called ASEAN + 6. Along with the TPP, the RCEP is a potential way to a Free Trade Area of the Asia-Pacific.

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