China and Southeast Asian nations have inked an upgraded free trade pact as Washington's protectionist policies continue to disrupt global commerce.
The "3.0 version" of the deal – dubbed by China's State Council – aims to enhance collaboration on infrastructure development, digital transformation, green transition, trade facilitation, and cultural exchanges between the two regions. This revised agreement builds upon their initial partnership in 2010 and marks a significant step forward in strengthening economic ties.
Trade between China and Southeast Asian nations has skyrocketed over the past few years, with bilateral trade reaching $785 billion for the first nine months of this year alone. This surge in trade is largely attributed to China's supply chain efforts dubbed "China Plus One," which emerged after the US-China trade war in 2018.
In a speech at the recent ASEAN summit, Chinese Premier Li Qiang praised the budding relationship between China and Southeast Asia, touting his expectation for further economic cooperation under the upgraded pact. He criticized Washington's unilateral policies, arguing that these measures have disrupted global commerce and unfairly targeted certain nations.
Zhiwu Chen, an economist from the University of Hong Kong, described the trade agreement as a "win-win" outcome for both parties, citing China's desire to shore up its relations with Southeast Asia amidst escalating tensions with the US and EU. He also noted that this partnership presents a welcome opportunity for ASEAN nations.
Meanwhile, President Donald Trump attended the summit in Kuala Lumpur, signing trade deals with Cambodia, Malaysia, Thailand, and Vietnam while meeting with Chinese President Xi Jinping later this week in South Korea. The latter agreements are seen as marking a shift towards bilateral negotiations rather than multilateral pacts, which is a stark contrast to China's emphasis on regional cooperation.
The upgraded free trade pact between China and Southeast Asia comes as tensions surrounding tariffs continue to simmer between the two nations. US Treasury Secretary Scott Bessent announced a "framework agreement" with China this week, aimed at mitigating potential tariff hikes – although details remain scarce.
The "3.0 version" of the deal – dubbed by China's State Council – aims to enhance collaboration on infrastructure development, digital transformation, green transition, trade facilitation, and cultural exchanges between the two regions. This revised agreement builds upon their initial partnership in 2010 and marks a significant step forward in strengthening economic ties.
Trade between China and Southeast Asian nations has skyrocketed over the past few years, with bilateral trade reaching $785 billion for the first nine months of this year alone. This surge in trade is largely attributed to China's supply chain efforts dubbed "China Plus One," which emerged after the US-China trade war in 2018.
In a speech at the recent ASEAN summit, Chinese Premier Li Qiang praised the budding relationship between China and Southeast Asia, touting his expectation for further economic cooperation under the upgraded pact. He criticized Washington's unilateral policies, arguing that these measures have disrupted global commerce and unfairly targeted certain nations.
Zhiwu Chen, an economist from the University of Hong Kong, described the trade agreement as a "win-win" outcome for both parties, citing China's desire to shore up its relations with Southeast Asia amidst escalating tensions with the US and EU. He also noted that this partnership presents a welcome opportunity for ASEAN nations.
Meanwhile, President Donald Trump attended the summit in Kuala Lumpur, signing trade deals with Cambodia, Malaysia, Thailand, and Vietnam while meeting with Chinese President Xi Jinping later this week in South Korea. The latter agreements are seen as marking a shift towards bilateral negotiations rather than multilateral pacts, which is a stark contrast to China's emphasis on regional cooperation.
The upgraded free trade pact between China and Southeast Asia comes as tensions surrounding tariffs continue to simmer between the two nations. US Treasury Secretary Scott Bessent announced a "framework agreement" with China this week, aimed at mitigating potential tariff hikes – although details remain scarce.
I'm kinda surprised to see China teaming up with Southeast Asian nations on trade instead of taking sides against the US and Europe... 
️ Like, I get that they wanna strengthen economic ties and all, but isn't it weird that they're doing this right when tensions are high? 
What's really driving this partnership, if you ask me? Is it just about securing resources or is there more to it than that? 
I'm not saying China is being sneaky or anything, but I do wish we got some more clarity on the motivations behind this deal... 
! The upgraded free trade pact with Southeast Asia is a huge win for both sides - it's about time someone stepped up to promote regional cooperation instead of just following Washington's lead 
. And let's be real, those unilateral policies from the US are already causing enough trouble, we don't need more of that 
. The fact that China is now driving its own economic growth and partnering with countries like Vietnam and Thailand is super inspiring 
! We should all be supporting this kind of initiative - it's about time we prioritize global cooperation over protectionism 
.
! its kinda crazy how china's 'China Plus One' supply chain efforts have boosted trade between them to over $785billion in the first 9 months of this year 
. and now they're talking about more economic cooperation on things like infrastructure, digital transformation & green transition... sounds like a win-win for both parties 
. but also gotta wonder what's going on with washington's protectionist policies disrupting global commerce 
i mean what's up w/ that?! doesn't seem 2 b helping anyone but china 
- lots of pieces fit together to make it stronger 
! As long as everyone plays fair and doesn't get too protectionist 
, this partnership has potential to be a real game-changer 
.
. I guess China's got a good point that these unilateral measures are unfair and disrupt the whole ecosystem 
. Maybe we'll see some positive changes soon, like more bilateral deals 
?
. With China's "China Plus One" supply chain efforts and Southeast Asia's growing trade, it's clear there's a lot of potential for growth 
. Let's hope both sides can work together smoothly and avoid any more tariff drama 
.