The RCEP includes a mix of high-,Australia, Brunei, Japan, New Zealand, Singapore and South Korea middle-,China, Indonesia, Malaysia, the Philippines, Thailand and Vietnam and low-income countries.Cambodia, Laos and Myanmar It is expected to eliminate about 90% of the tariffs on imports between its signatories within 20 years of coming into force, and establish common rules for e-commerce, trade, and intellectual property. Several analysts predicted that it would offer significant economic gains for signatory nations, boost post-pandemic economic recovery, as well as "pull the economic centre of gravity back towards Asia, with China poised to take the lead in writing trade rules for the region," leaving the United States behind in economic and political affairs in the region. Reactions from others were neutral or negative, with some analysts saying that the economic gains from the trade deal would be modest. The RCEP was criticized by the Australian Institute of International Affairs, stating that it ignores labor, human rights, and environmental sustainability issues.
