An interesting article from the Global Times. RCEP is going to be signed on the coming Sunday. The author celebrates this, but is also aware that the new Biden administration will no doubt revive the TPP.
But of course the main topic is India. It would be easier for India to join RCEP than the TPP because of the strict participation conditions of TPP. But India is joining the RCEP out of spite with China.
The author is aware of India's intentions to "De-Sinicize" the global supply chain with the aim to put India ahead at the expense of China. First, with the Covid-19 outbreak in China, then later with the Ladakh border clash.
The author also notes that India is a spoiler in many multilateral agreements. And that India is grossly overestimating its economic power.
So China doesn't actually mind that India opts out, in fact its starting to like it But for India, it is missing out on yet another boat to economic progress. And this is perhaps the last boat for India to miss. Unless of course if the US lowers the TPP participation bar for India to enter. But even with that, India would still mess that up.
What India doesn't realize is that practically all of the non-first world countries have little love for India. India doesn't respect its neighbours, doesn't respect the ASEAN countries, doesn't respect Central Asian countries, and have pissed of many Muslim countries. India has negligible political and economic power to lead the global supply chain away from China. So the middle-income trap is now more or less assured for India. For Indians who celebrate this momentous occasion for India, Happy Diwali! Don't forget to boycott Chinese fireworks!