Asia forms world’s biggest trade bloc, a China-backed group excluding U.S.
Reuters reports: Fifteen Asia-Pacific economies formed the world’s largest free trade bloc on Sunday, a China-backed deal that excludes the United States, which had left a rival Asia-Pacific grouping under President Donald Trump. The signing of the Regional Comprehensive Economic Partnership (RCEP) at a regional summit in Hanoi, is a further blow to the group pushed by former U.S. president Barack Obama, which his successor Trump exited in 2017. Amid questions over Washington’s engagement in Asia, RCEP may cement China’s…