Financial Times – Robin Harding and John Reed / Asia-Pacific countries sign one of the largest free trade deals in history
- Leaders from 15 Asia-Pacific nations on Sunday sealed one of the biggest trade deals in history, seeking to reduce barriers in an area covering a third of the world’s population and economic output.
- The Regional Comprehensive Economic Partnership, or RCEP, marks a major step forward for economic integration in the region, and follows almost a decade of negotiations.
- Economists said the deal, the first trade agreement bringing together China, Japan and South Korea, could add almost $200bn annually to the global economy by 2030.
- The RCEP takes most of the existing agreements signed by the 10 members of the Association of Southeast Asian Nations — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam — and combines them into a single multilateral pact with Australia, China, Japan, New Zealand and South Korea.
- The Economist / The meaning of RCEP, the world’s biggest trade agreement
The Guardian – Jason Burke / Fears of regional conflict in Horn of Africa after rocket attacks on Eritrea
- Risks of the increasingly bloody war in northern Ethiopia turning into a chaotic regional conflict rose sharply this weekend after rocket strikes on the airport in neighbouring Eritrea’s capital, Asmara.
- Debretsion Gebremichael, the leader of the Tigray People’s Liberation Front (TPLF), the restive region’s ruling party, said his forces had fired three missiles and claimed Asmara’s airport was a “legitimate target” because it was being used by Ethiopian forces.
- Gebremichael also accused Eritrea of sending troops into the Tigray region and denied reports that Tigray’s forces had entered Eritrea.
- There have been unconfirmed reports of Ethiopian troops launching attacks into Tigray from Eritrean territory, a call-up of retired Eritrean senior officers, troop movements towards the southern border and a conscription drive by Eritrea’s authorities.
- Foreign Policy – Nizar Manek and Mohamed Kheir Omer / Sudan will decide the outcome of the Ethiopian civil war
- Pro-European challenger Maia Sandu has won the second round of Moldova’s presidential election and is well ahead of the pro-Russian incumbent with almost all ballots counted, according to the central election commission.
- With 99% of the votes tallied by late Sunday, according to the Moldovan Central Election Commission website, Sandu’s expected victory may be ill-received in Moscow. The former prime minister was leading Sunday night (15 November) with 57% of the votes over Igor Dodon’s 44%, with the full results expected Monday.
- Celebrations broke out overnight in front of opposition headquarters in the centre of the capital Chisinau, with supporters chanting: “President Maia Sandu” and “a country for young people”.
- Last month Russian President Vladimir Putin called on Moldovans to cast their votes for Dodon, and there were long lines at polling booths in Moscow on Sunday.
- Euronews – Ernest Bunguri / Moldova: how the diaspora of Europe’s poorest nation keeps its economy afloat
Bloomberg – Tom Orlik et al. / The $36 trillion bill for neglecting climate and free trade
- In the Covid crisis, governments have struggled to find the right national policies—and also to coordinate an effective global response.
- They’ll have to do better when it comes to confronting the biggest challenges of the age: rising temperatures and a fracturing world economy.
- Taken together, rapid action against rising temperatures and a renewed commitment to globalization would put the world economy on track for 2050 output of $185 trillion.
- Delaying moves to cut carbon emissions, and allowing cross-border ties to fray, could cap it at $149 trillion—the equivalent of kissing goodbye to the entire GDP of the U.S. and China last year.
- Politico – Karl Mathiesen and Kalina Oroschakoff / Paris is passé as climate green deals become chic
- Project Syndicate – Josep Borrell / European strategic complacency is not an option