The world's biggest trade agreement has just been signed.

What will the Regional Comprehensive Economic Partnership mean for its members and for those outside the club?

You're listening to Money Talks on Economist Radio, our weekly podcast on the markets, the economy, and the world of business. I'm Patrick Lane and also in today's show

What President Trump's parting nominations to the Federal Reserve

mean for the American economy.

In the long wind, it would end up hurting Republicans as much as Democrats, and it's a line that

really shouldn't be crossed but but here we are

seemingly about to cross it. And the candy pink Swedish unicorn hoping to work its

magic in America. They really do make shopping very easy and it's driven mainly by young

credit-hungry shoppers, but because it's so easy, it's also why Klana is quite controversial. First, this week 15 countries from across the Asia Pacific signed the world's largest

Plural Trade Agreement.

The Regional Comprehensive Economic Partnership, or Arseb, is the result of

eight years of what Malaysia's trade minister Mohammed Asmin Ali

has called negotiating with blood, sweat and tears.

Our SEPS members have hailed it as a victory for open, inclusive rules-based trade at a time

when such cooperation seems rare. But some worry that the deal may be a step

towards a new world order in which China calls the shots all over Asia.

In terms of size this is clearly an ambitious big agreement with with lots of the world's GDP involved.

So Mayor Keynes is the economist's trade and globalisation editor.

We've got the 10 members of ASEAN, a block of Asian countries. And then we also have Japan, New Zealand,

Australia, China, and South Korea. You have very, very poor members like Laos and then you have

very, very rich ones like Japan.

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