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The Association of Southeast Asian Nations (ASEAN) has been leading economic integration within many structural changes in the world economy. ASEAN, established in 1967, has promoted regional economic integration since 1976. It started to work toward realizing the ASEAN Free Trade Area (AFTA) in 1992 and the ASEAN Economic Community (AEC) in 2003. ASEAN finally established the AEC at the end of 2015. The AEC is the most developed and advanced economic integration in East Asia. ASEAN is deepening the AEC for the next goal, AEC 2025. ASEAN also led East Asian cooperation initiatives, including ASEAN+3 and ASEAN+6, and ASEAN+1 FTAs. ASEAN proposed the Regional Comprehensive Economic Partnership (RCEP) and led the RCEP negotiations. Currently, rising protectionism and the US-China trade friction has great negative impacts on ASEAN and East Asia. Furthermore, the outbreak of COVID-19 has done great damage to ASEAN and East Asia. ASEAN is responding to the COVID-19 pandemic and strengthening the AEC steadily amidst growing protectionism and COVID-19 pandemic. The RCEP agreement was finally signed in November 2020. The RCEP is the first East Asian mega FTA. The RCEP has great meaning in ASEAN and East Asia. ASEAN secured ASEAN centrality in East Asian economic integration. The AEC and the RCEP will become more important amidst rising protectionism, and during and in the post-pandemic era.

Against the backdrop of the continued expansion of regional trade agreements worldwide, although China has signed numerous free trade agreements (FTAs), systematic empirical evidence on how different FTAs affect export efficiency remains limited. Using a stochastic frontier gravity model (SFGM), this study examines the relationship between FTAs and China’s export efficiency based on panel data covering China’s exports to 80 major trading partners over the period 2000–2024. The analysis further explores heterogeneity across trading partners in terms of regional characteristics and levels of economic development, thereby providing a comprehensive assessment of structural differences in export efficiency. The results indicate that, among the FTAs included in the analysis, the Regional Comprehensive Economic Partnership (RCEP) and the China–Chile Free Trade Agreement (CCHFTA) are significantly associated with lower trade inefficiency, suggesting that China’s exports to these partners are closer to the potential trade frontier. In contrast, most other FTAs do not exhibit statistically significant differences, and some are associated with higher trade inefficiency, indicating considerable variation in efficiency performance across China’s existing FTA network. Further analysis reveals persistent structural differences in export efficiency across regions and development levels, with relatively higher efficiency observed for Oceania and North America, while South America and Africa show comparatively lower levels. At the same time, differentiated trade strategies should be adopted for trading partners with different regional characteristics and development levels, in order to optimize export structure and better realize potential trade capacity. The findings provide empirical evidence for improving China’s FTA network and enhancing export efficiency.

NOABSTRACTIn the contemporary global economy, regional trade agreements (RTAs) and economic multilateral frameworks are crucial for establishing comprehensive norms and standards that enhance international trade, including the protection of intellectual property rights (IPR). This paper examines the role of IPR coherence in fostering trade and innovation, focusing on the European Union (EU) and the Regional Comprehensive Economic Partnership (RCEP).Through a comparative analysis, the paper provides insights into the complex dynamics between developed and developing regions, emphasizing the importance of harmonized IPR standards for a more inclusive and integrated global market.The EU, with its stringent regulatory standards, contrasts with the more flexible IPR approaches of the diverse Asia-Pacific nations in RCEP. The study explores the necessity and benefits of harmonizing these IPR frameworks to improve trade relations and stimulate innovation. It highlights China’s pragmatic strategy in aligning its evolving IP regulations with international standards while accommodating the needs of ASEAN countries.The findings suggest pathways for enhancing IP protection standards and fostering mutual economic growth and innovation.

Purpose — This study examines the relationship between savings and economic growth, accounting for the mediating role of financial development across the selected Regional Comprehensive Economic Partnership (RCEP) countries. Methods — Using a panel data set spanning 1986 to 2022, the long-run interaction among the variables is investigated with panel cointegration methods that account for cross-sectional dependence. Moreover, the associated long-run elasticities were estimated using the augmented mean group estimation method. The causal nexus was examined for each country in the sample. Findings — In addition to the presence of a long-run relationship, the findings revealed that both thrifts and growth have a positive influence on each other in the long run. In addition, bidirectional causality tends to exist between thrifts and growth. Implication — Since the findings disclose the validity of two mainstream macroeconomic views, policymakers should rely on developing economic policies aiming at fostering thrift and economic growth, which may include support of institutional quality and financial deepening in those economies. Originality — The originality and added value of the study stem from the development of a new perspective, particularly in the examination of causal relationships. Furthermore, this is one of the primary efforts focused on the RCEP bloc, which has significant potential in terms of trade, finance, thrifts, and economic size in the contemporary world economy.

In the last two decades the venue of free trade agreements has turned into an important platform for digital trade rule-making. Yet, the approaches of individual states differ profoundly and the emerging data governance regime is deeply fragmented.The article seeks tomap these developments by looking at selected preferential trade agreements (PTAs) and their design. The enquiry focuses on the United States (US) and European Union (EU) approaches and discusses the differing stances with regard to data flows regulation in particular, while highlighting innovative solutions found in recent trade deals, such as the Comprehensive and Progressive Agreement for Transpacific Partnership (CPTPP) and the United States Mexico Canada Agreement (USMCA). The article then provides an overview of ASEAN’s initiatives with respect to electronic commerce. Against this backdrop, the article evaluates the prospects of digital trade related rules in the future ASEAN-EU agreement. CPTPP, electronic commerce, EU FTAs, data flows, digital trade, RCEP, USMCA

NOABSTRACTThe participation of ASEAN member states (AMS) in the Regional Comprehensive Economic Partnership (RCEP) alters the international economic environment and reshapes their development ties with the European Union (EU).This article thus examines RCEP’s implications to EU, especially on trade, investment, and policy harmonization.In particular, it presents both gains and barriers to deeper ASEAN-EU relations. On the one hand, the opportunities lie in ASEAN’s enhanced bargaining position and prospective initiatives in digital economy and sustainable development. On the other hand, challenges may arise from regulatory disparities and competitive demands. In addition, ASEAN is required to strike a balance between its obligations with RCEP and the EU.The article hance emphasizes the importance of strategic dialogue and cooperation to align standards, promote mutual benefits, and mainstream sustainable development in the evolving geopolitical context. It seeks to contribute to a profound understanding of how regional trade dynamics influence global development cooperation frameworks.

PurposeThe regional comprehensive economic partnership (RCEP) is promising as per the claims and can be revolutionary for the Asia–Pacific Region. The member countries will get a boost in the post-pandemic world due to the RCEP. According to Brookings, the RCEP is going to be an agreement reshaping the global economics. This study aims to clarify the aspects related to the RCEP and how it can boost global economics.Design/methodology/approachThe study employs qualitative descriptive analysis to address the status of RCEP in the region and the consequences of such main transnational partnership. The study is based on economic reports, official documents and data directly related to the subject of the study.FindingsFindings show that the RCEP will be a significant driver of regional trade despite its faults. The RCEP's tariff benefits and rules of origin, notwithstanding their relatively restricted scope, will encourage enterprises to source products and services from RCEP members, and in combination, RCEP and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are anticipated to replace at least some competing US commodities, services and farm exports. For items that integrate parts and components from inside the area, such as from China, the RCEP is projected to reduce tax and trade facilitation costs, allowing enterprises to avoid US Section 301 tariffs.Originality/valueBy examining how the RCEP operates within the framework of domestic and international trade, this study contributes to a deeper understanding of RCEP and analyses its nature based on data and official reports.

The Regional Comprehensive Economic Partnership (RCEP), which went into effect on January 1, 2022, is regarded by key trading partners as part of efforts to promote deep integration of the global supply chain following the COVID-19 pandemic. The absence of Investor-State Dispute Settlement (ISDS) provisions in the RCEP is a significant obstacle, which might be at odds with current ISDS protocols under other treaties. This article analyzes the contexts, causes, and impacts of the RCEP’s lack of ISDS regulations, explores the potential for a new ISDS model, and discusses participating countries’ challenges in resolving international investment disputes within the RCEP framework.

IntroductionWith the accelerating process of globalization, trade activities have had profound impacts on both the environment and economic development.MethodsThis paper comprehensively evaluates the synergistic effect of bilateral trade on “pollution reduction” and “carbon mitigation,” as well as “economic growth,” utilizing panel data from China and RCEP countries spanning the period from 1997 to 2020.ResultsThe empirical results reveal that bilateral trade significantly propels economic growth in RCEP countries and exhibits a positive “pollution reduction” effect, whereas its “carbon reduction” effect remains uncertain. To delve into the underlying reasons for bilateral trade’s failure to effectively mitigate carbon emissions, this paper undertakes a mechanism test along two opposing paths. Notably, the influence of bilateral trade on economic growth and “pollution reduction” in RCEP countries varies regionally. Specifically, bilateral trade is more efficacious in fostering economic growth in ASEAN countries. Additionally, bilateral trade enhances environmental quality in ASEAN countries, yet it deteriorates in non-ASEAN countries. Furthermore, this paper examines the intricate relationship between bilateral trade, economic growth, and “pollution reduction” through the application of the PVAR model. It concludes that optimizing environmental quality in RCEP countries is conducive to both local economic growth and bilateral trade.ConclusionThis study not only bears significant implications for understanding the complex interplay between economic growth, environmental quality, trade liberalization, and environmental policies, but also provides invaluable guidance for policy formulation and implementation aimed at achieving green transformation and fostering sustainable economic development.

This paper selects daily stock market trading data of RCEP member countries from 3 December 2007 to 9 December 2024 and employs the Time-Varying Parameter Vector Autoregression (TVP-VAR) model and transfer entropy to measure the time-varying volatility spillover effects among the stock markets of the sampled countries. The results indicate that the signing of the RCEP has strengthened the interconnectedness of member countries’ stock markets, with an overall upward trend in volatility spillover effects, which become even more pronounced during periods of financial turbulence. Within the structure of RCEP member stock markets, China is identified as a net risk receiver, while countries like Japan and South Korea act as net risk spillover contributors. This highlights the current “fragility” of China’s stock market, making it susceptible to risk shocks from the stock markets of economically developed RCEP member countries. This analysis suggests that significant changes in bidirectional risk spillover relationships between China’s stock market and those of other RCEP members coincided with the signing and implementation of the RCEP agreement.