RCEP and Modern Services
21 October 2022
In this chapter, we start with an overview of trade flows in modern services within the Regional Comprehensive Economic Partnership (RCEP) region and identify the main challenges for policymaking that have emerged in the negotiations. To give this analysis a quantitative foundation, we use a general equilibrium Poisson pseudo-maximum likelihood analysis of the gravity model to cover several scenarios, including structural adjustments that could guide future cooperation in liberalisation and the development of modern services. We then show where the opportunities for further liberalisation lie within the framework of RCEP.