Explained: RCEP world's largest trade deal, India's rejection, China's dominance

The world's largest trade agreement, the Regional Comprehensive Economic Partnership pact, was signed by 15 nations on November 15 during a virtual summit. The new trading bloc thus created would cover 210 crore people, with the member states' combined GDP of $26.2 trillion accounting for around 30% of the global GDP. The finalisation of the deal comes around a year after India announced its decision to not join the grouping, mainly because the terms being skewed in China's favour. The deal would've allowed Chinese goods to flood Indian markets, threatening domestic industries. The pact is also a milestone China's ambition of becoming a trade lynch-pin. Watch the full video for more.