Abstract
The proliferation of regional trade agreements (RTAs) in recent decades and the intensifying rivalry among major trading nations has led to the creation of two mega RTAs, namely the Trans-Pacific Partnership (TPP) led by the United States of America and the Regional Comprehensive Economic Partnership (RCEP) led by China. Due to the importance of market access to these two economic superpowers, seven out of twelve TPP countries are also participating in the negotiations for RCEP, comprising half of the sixteen participating countries. This article discusses the development of these two mega RTAs, introduces their key provisions and approaches, and examines the dynamics and implications for trade that these mega RTAs would create.
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