True but having so many different innovative countries inside and with such a gigantic market to sell, I dont think they will have too much problems with inefficincies due to reduced competition
On second, now I think this is not a good idea for the west.
It probably will only lead to more Western decline.
To set up an exclusive block via standards, it is still an exclusive block.
Let's look at England. Brexit to restore their splendid isolation, is not making England go back up, they are still going down in terms of world influence.
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.