Many observers are excited about the prospects of a trading bloc called RCEP. It stands for the Regional Comprehensive Economic Partnership that would create one of the largest trading pacts in the world. It would account for nearly a third of the world’s GDP and a third of the world’s population. It connects ASEAN nations with China, South Korea and Japan in North Asia, and Australia and New Zealand in the southern hemisphere. The pact has been agreed but it still needs to be ratified by the individual countries. It would take a huge leap of faith to see that happening, given what has happened. No sooner had the pact been signed, which has taken nearly a decade to negotiate, when China slapped 200% tariff on Australian wines, and delayed shipments of Australian grain and coal from entering the country. We must wonder which part of “regional”, “economic”, “comprehensive” and “partnership” does China not fully understand....