Will Europe and the United States benefit from Asia-Pacific’s dynamism?

The creation of an Asia-Pacific free-trade area (RCEP) will contribute to Asia-Pacific enjoying much more vigorous growth than that of the United States or the euro zone over the next 20 years, as Asia-Pacific’s productivity continues to catch up. Asia-Pacific will clearly become the engine of the global economy. Will Europe and the United States benefit from this? When we look at euro-zone and US exports to Asia-Pacific (to the RCEP countries) and the Asia-Pacific growth model, we see that: Asia-Pacific is a relatively closed economy whose imports are growing slowly; US and euro-zone exports to Asia-Pacific are small and growing at a low rate on average. Of course, European and US companies can produce and sell in Asia-Pacific, but this will have little effect on well-being in the euro zone and the United States. So there is little for the United States and Europe to gain from Asia-Pacific’s dynamism .