The world's largest trading bloc is now Asia Pacific

Forget NAFTA, ASEAN and the European Union. The world’s biggest trading block, an agreement that came in to force on Thursday after eights years of negotiations, comprises of 15 countries in Asia Pacific. Called the Regional Comprehensive Economic Partnership (RCEP), it is made up of 10 Southeast Asian countries, in addition to South Korea, China, Japan, Australia and New Zealand. The deal excludes the US and Europe and is the first regional multilateral trade agreement signed by China.