2016
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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16
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12
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13
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15
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Detailed explanation-1: -RCEP entered into force on 1 January 2022 for ten original parties: Australia, Brunei Darussalam, Cambodia, China, Japan, Laos, New Zealand, Singapore, Thailand and Vietnam. RCEP then entered into force for the Republic of Korea on 1 February 2022, for Malaysia on 18 March 2022 and for Indonesia on 2 January 2023.
Detailed explanation-2: -Key statistics. The 15 countries within RCEP represent: a population of 2.3 billion, 30% of the world’s population. a total gross domestic product (GDP) of around $38, 813 billion or 30% of global GDP.
Detailed explanation-3: -Data from the World Bank shows that RCEP will cover 2.3 billion people, US$ 25.8 trillion of global GDP, US$ 12.7 trillion of global trade in goods and services, and 31% of global Foreign Direct Investment inflows.
Detailed explanation-4: -India’s exit was not just a loss for New Delhi, but also for other RCEP countries. India was one of Asia’s fastest-growing economies at the time the agreement was signed.