Please ensure Javascript is enabled for purposes of website accessibility
OPINION: Global Trade Is Booming — Just Without the US
Opinion
By Opinion
Published 5 years ago on
December 11, 2020

Share

[aggregation-styles]

Subscription

The world is turning its back on globalization, free trade and multilateral institutions — or at least that’s the conventional wisdom. Inspired by the nationalism and protectionism of President Trump and spurred on by the covid-19 pandemic, politicians and commentators’ talk of bringing home supply chains and bolstering domestic production. Even without Trump, the thinking goes, this shift is likely to endure.

But how, then, should we make sense of a seismic event that took place a few weeks ago — with almost no discussion in the United States? On Nov. 15, in a virtual ceremony, 15 Asia-Pacific countries signed the world’s largest free-trade pact, the Regional Comprehensive Economic Partnership (RCEP). The signatory states account for 30 percent of global GDP — larger than NAFTA or the European Union. Many of the same nations had also signed, two years earlier, another big free-trade pact called the Trans-Pacific Partnership (TPP), which also included Canada, Mexico, Chile and Peru. And negotiations are underway to conclude a China-Japan-South Korea trade agreement as well as a China-E.U. investment treaty. And in 2018, African nations formed a continent-wide free-trade area.

Read More →

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

Iranian State TV Halts Live Broadcast After Israeli Strike

DON'T MISS

Global Markets Recover on Iran Ceasefire Reports, Central Banks in Focus

DON'T MISS

Madera Man Sentenced to Over 21 Years for Fentanyl, Meth Trafficking

DON'T MISS

Touring a Tunnel That Leads Underneath a Hospital in Southern Gaza

DON'T MISS

Suspect in Minnesota Lawmaker Killing Visited Other Legislators’ Homes, Prosecutors Say

DON'T MISS

Spyware From US-Backed Israeli Firm Targeted European Journalists, Report Finds

DON'T MISS

Israel’s War of Choice With Iran Puts Trump in a Bind

DON'T MISS

Prather’s Oak Fire Active in Fresno County, 46% Contained

DON'T MISS

Tulare County Authorities Arrest Man in Dinuba Shooting

DON'T MISS

Fresno Murder Suspect Arrested in Madera County Following Shooting

UP NEXT

Rise of the Anti-“Woke” Democrat

UP NEXT

High-Level Saudi Visit Follows Multimillion-Dollar Foreign Influence Operation

UP NEXT

Iran and Russia Move to Fill Diplomatic Vacuum in Afghanistan

UP NEXT

Pelosi’s Husband Locked In $5.3 Million From Alphabet Options

UP NEXT

Experts Reportedly See Major Damage in Attack on Iran Centrifuge Plant

UP NEXT

Opinion: School Choice Marches Ahead

UP NEXT

Zakaria: Americans Care About History Because the Stakes Are High

UP NEXT

California Democrats Are Reliably Pro-Labor. But One Union Is Testing Their Patience.

UP NEXT

The Tightrope Walk Democrats Have Ahead on Two Separate Infrastructure Bills

UP NEXT

Bill Barr on Trump’s Election Fraud Claims: “It Was All Bullsh*t”

Touring a Tunnel That Leads Underneath a Hospital in Southern Gaza

25 minutes ago

Suspect in Minnesota Lawmaker Killing Visited Other Legislators’ Homes, Prosecutors Say

28 minutes ago

Spyware From US-Backed Israeli Firm Targeted European Journalists, Report Finds

46 minutes ago

Israel’s War of Choice With Iran Puts Trump in a Bind

53 minutes ago

Prather’s Oak Fire Active in Fresno County, 46% Contained

60 minutes ago

Tulare County Authorities Arrest Man in Dinuba Shooting

1 hour ago

Fresno Murder Suspect Arrested in Madera County Following Shooting

1 hour ago

Millions of Americans Like Trump Better in Theory Than in Practice

2 hours ago

Tucker Carlson Says Trump ‘Complicit’ in Israel’s Attack on Iran

2 hours ago

Fresno Stabbing Leads to 7-Hour SWAT Standoff and Arrest, Suspect Identified

2 hours ago

Iranian State TV Halts Live Broadcast After Israeli Strike

TEL AVIV, Israel — Israel struck Iran’s state-run television station Monday during a live broadcast, forcing a reporter to run off cam...

1 minute ago

1 minute ago

Iranian State TV Halts Live Broadcast After Israeli Strike

Smoke rises following what Iran says was an Israeli attack on Sharan Oil depot in Tehran, Iran, June 16, 2025. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
4 minutes ago

Global Markets Recover on Iran Ceasefire Reports, Central Banks in Focus

The crest of the United States Department of Justice (DOJ) is seen at their headquarters in Washington, D.C., U.S., May 10, 2021. REUTERS/Andrew Kelly/File photo
21 minutes ago

Madera Man Sentenced to Over 21 Years for Fentanyl, Meth Trafficking

25 minutes ago

Touring a Tunnel That Leads Underneath a Hospital in Southern Gaza

Flowers and hand-written messages sit at a memorial outside the Minnesota State Capitol in honor of Democratic state assemblywoman Melissa Hortman and her husband Mark, after a gunman killed them, in St. Paul, Minnesota, U.S., June 15, 2025. (Reuters/Tim Evans)
28 minutes ago

Suspect in Minnesota Lawmaker Killing Visited Other Legislators’ Homes, Prosecutors Say

Spyware from U.S.-backed Israeli firm Paragon Solutions was used to target prominent European journalists’ phones, raising concerns about government surveillance and commercial spyware abuse. (Shutterstock)
46 minutes ago

Spyware From US-Backed Israeli Firm Targeted European Journalists, Report Finds

President Donald Trump speaks as he attends a military parade to commemorate the U.S. Army's 250th Birthday, on the day of his 79th birthday, in Washington, D.C., U.S., June 14, 2025. REUTERS/Carlos Barria/File Photo
53 minutes ago

Israel’s War of Choice With Iran Puts Trump in a Bind

The Oak Fire near Morgan Canyon Road and Country Oak Lane in Prather remains active at 46% containment, burning 14 acres with 45 personnel working alongside multiple air tankers to strengthen containment lines. (CalFire)
60 minutes ago

Prather’s Oak Fire Active in Fresno County, 46% Contained

Help continue the work that gets you the news that matters most.

Search

Send this to a friend