Asia-Pacific countries sign world’s largest trade pact

Fifteen countries on Sunday signed a sprawling Asia-Pacific trade deal seen as a huge coup for China in extending its influence. The Regional Comprehensive Economic Partnership (RCEP) – which includes 10 Southeast Asian economies along with China, Japan, South Korea, New Zealand and Australia – is the world’s largest trade pact in terms of GDP, analysts say. First proposed in 2012, the deal was finally sealed at the end of a Southeast Asian summit as leaders push to get their pandemic-hit economies back on track. “Under the current global circumstances, the fact the RCEP has been signed after eight years of negotiations brings a...