Also, when we consider that China is by far the largest manufacturer in the world of all types of goods, and that China is the largest consumer market in the world in terms of goods, (with China and ASEAN coming closer together via the RCEP), this standards committee from the west seems like a big Brexit in itself.
Chances are good that China's economy will be bigger than all the West combined. If we add ASEAN, Russia, Iran, and the rest of the BRI countries, the ratio tilts ridiculously in favor of the East.
In that scenario, if the West isolates itself in its own bloc, it will be like the USSR in the Cold War: competing against an opponent whose economy is several times larger than itself. The West will lose disastrously.
On second, now I think this is not a good idea for the west.
It probably will only lead to more Western decline.
Yes.