STEVEN KUO: SA needs to catch that boat from China to Asean ports
The centre of economic activity is moving from the Atlantic to the Indian Ocean, and SA must align itself with this move
The regional comprehensive economic partnership (RCEP) was signed last weekend. It includes 10 countries of the Association of Southeast Asian Nations (Asean) — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, as well as Australia, China, Japan, New Zealand and South Korea.
Covering a third of global population as well as a third of global GDP, the RCEP is a huge step forward for Asian countries to create their own common market. With simplified rules for intra- and extra-regional trade, an extra $200bn is expected to be generated for the global economy over the next decade. ..