If applicable, please give one example within the answer.

Recently Australia and New Zealand ratified the Regional Comprehensive Economic Partnership (RCEP), a free trade agreement between most all of the Asian nations, including China, Japan and Korea, and the agreement went into effect on 1 January 2022. As we have discussed, the US withdrew its participation in IPP and it was never included in RCEP. A chart showing relative size of various Free Trade Agreements is as follows: 3 What is your opinion as to the significance of RCEP? Will RCEP greatly alter the world trade landscape? Will the WTO be affected and, if so, how? Will the US and the EU be affected in similar or disparate ways? Will IPEF affect this situation and, if so, how