In 2019, after seven years of negotiations, India withdrew from an extremely important multilateral trade agreement composed of 12 Asian countries, collectively known as the Regional Comprehensive Economic Partnership Agreement (RCEP). Such a decision by India makes it difficult for Indian exporters to profit from entering tariff-free markets with other countries and to provide reciprocity to trading partners.
Parag Khanna, author of “The Future is Asian”, told the BBC, “Why should I produce in India what I want to sell to Singapore? In terms of system and It is equally important for other countries to maintain trade agreements as well as get good prices. ”
He believes that global trade has begun to follow the “sale-in-place” model. Major companies are producing near raw materials rather than outsourcing production, and they are bringing production closer to product demand, so regional integration is particularly important.
In such an era of intense competition, we must always remain vigilant and look forward to a new level in the development of x-ray machines.
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