The worlds largest Free-Trade Zone just came into being.

From the Beeb.

They plan to eliminate tariffs on 90% of imported goods.
In terms of population it will be the largest trade area in the world, with nearly 1.9bn people and it includes some of the leading export driven economies.
That's a pretty enormous market and a pretty significant incentive to trade within rather than without. The US has just begun going down the protectionist route with tariffs imposed on Chinese steel exports which make trading within the block even more attractive if producers can't access the US market.

The Japanese previously proposed a single currency for the East Asian Community and met with a positive response from China, although this was a currency unit for trade purposes rather than a central currency a la Euro.

Interesting times ahead for the East Asian countries. Looks like Oz and NZ have a chance to keep the Anglosphere view represented at the top table within Asia.

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