It remains to be seen whether new members will join the RCEP such as India. Trade analysts said the agreement can “significantly enhance regional economic connectivity.” The United Nations Conference on Trade and Development explained in a study last month that the large size of the new bloc will “make it a center of gravity for global trade.” Still, the deal is possibly disadvantageous for Vietnam and Indonesia, which could see their exports to China replaced by imports from Japan. This would particularly benefit Asia’s biggest economies – China, Japan and South Korea – which are expected to see an increase in exports from the partnership. One of the main benefits of the RCEP will be tariff concessions – members plan to remove levies on more than 90 percent of products traded within the bloc. The treaty is also significant for China, which is trying to increase its profile in Asia’s integration push. The deal’s launch comes as countries attempt to turn around their economies from the economic downturn caused by the coronavirus pandemic while shoring up supply chains. The Regional Comprehensive Economic Partnership (RCEP) is comprised of 15 Asia-Pacific nations that cover about 30 percent of the world’s gross domestic product and population: It includes China, Japan, Australia, South Korea and New Zealand, which completed ratification of the deal last year. THE WORLD, BRIEFLY A New Center of Gravity ASIAĪn Asia-Pacific trade agreement took effect Saturday, creating the world’s largest trade bloc and ushering in a new phase of economic integration in the region, Nikkei Asia reported. Of course, best practices mean little if few follow them. This patchwork of efforts might bear some best practices. In their country, which has enjoyed remarkable success in suppressing the virus, as National Public Radio wrote, they are denying entry to all foreign non-residents in a bid to prolong their good fortune. The measures were part of a “zero-Covid” strategy intended, however, to avoid harsh restrictions during the Beijing Olympics in February when a flood of athletes and other visitors will visit the city, potentially carrying the virus. Many folks weren’t able to receive their test results in time to travel home for Christmas.Ĭhina was in a particular pickle, announcing travel restrictions that would prevent many people from joining loved ones for the Lunar New Year festivities, CNN reported. Some Australian states require negative test results to enter, but surging demand means that waiting times have stretched to as long as five days for results, the Guardian added. That doesn’t mean all is well Down Under. Health officials said the important metric is how many people are in intensive care, not the overall infection rate. Around 90 percent of Australians older than 16 have been fully vaccinated. But the country in the southern hemisphere is heading into the summer, Reuters explained. The singer Lorde is scheduled to perform.Ĭases in Australia, where officials shut their borders in March 2020, are spiking. Prime Minister Jacinda Ardern, who postponed her wedding due to the pandemic, is planning to get hitched in January. Meanwhile, Australia and New Zealand are loosening restrictions, the Washington Post wrote.
Israel banned travel from the US, Canada and eight other countries to stop the spread, even as they are rolling out a fourth shot.
Starting in January in France, only vaccinated people will obtain health passes to allow them to visit bars, restaurants and other locations.
Germany is considering mandating vaccines. Ireland ordered bars and restaurants to close early and instituted restrictions on groups, Bloomberg wrote. On Christmas Eve and New Year’s, four visitors were allowed.Ī chef in the Hague named George told the BBC that he would throw away all the fresh food he had purchased in expectation of serving customers during this busy time of year. Only two visitors are allowed in private residences. Educational institutions are shuttered until Jan. Non-essential businesses, bars and restaurants are closed until mid-January, the Associated Press reported. NEED TO KNOW Once More Unto the Breach WORLDĪs the Omicron variant of the coronavirus spread around the globe, the Netherlands instituted a nationwide lockdown that made the Dutch feel like it was 2020 all over again.
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