Study on the Prospects for the Development of China, Japan and Korea Economic and Trade Cooperation under RCEP

Since the COVID-19 outbreak in 2020, global trade and economic activities have been severely harmed, changes landscape accelerated. The dramatic reduction volumes development of industrial chains hampered even partially disrupted, leading to a new wave “deglobalisation”. Against this backdrop, signing RCEP, largest FTA Asia-Pacific region, demonstrates region’s confidence determination uphold multilateral trading system, build an open economy, promote integration process, stabilize economy. For long time, China’s interests tightly intertwined with those Japan Korea. By combined GDP East Asian circle represented by China, Japan, Korea will surpassed that United States, center be shifting Asia. first signed Korea, creates opportunities for cooperation, chain optimization, construction three countries, but it also increases competition among three. However, introduces potential issues such as impact on related industries following opening up international currency competition. As world undergoes unprecedented change century, countries should strengthen cooperation under RCEP framework, follow trend integration, contribute economy’s sustainable healthy development.