Global finance: can RCEP evolve to be the next EU?

Australia will become part of the massive Asia-Pacific free-trade pact that covers half the world's population. Regional leaders, including Prime Minister Scott Morrison, agreed on a 15-member Regional Comprehensive Economic Partnership at the East Asia Summit in Bangkok, Thailand. How does this new agreement differ from CPTPP? How does it help to boost the economic performance for the participant countries? Ivan invited Dr. Wei Li from Sydney University Business School to explain.

Members of Regional Comprehensive Economic Partnership, RCEP Source: AAP