"The world’s largest trade deal is unlikely to be signed this year, with a draft statement from south-east Asian leaders suggesting it will be delayed until 2020, despite China’s desire to bring it into operation as soon as possible as a counterweight to its debilitating tariff war with the US. The 16-country Regional Comprehensive Economic Partnership – known as the RCEP – would be the world’s largest when operational, spanning India to New Zealand, including 30% of global GDP and half of the world’s people. But resistance from India – concerned about a flood of cheap mass-produced Chinese goods hurting small businesses in its economy – appears set to cruel hopes of finalising the pact at the Association of Southeast Asian Nations summit in Bangkok, where members of the 10-nation bloc have been joined by the leaders of powerful observer nations India and China for the East Asia Summit. On a bilateral level, the Chinese premier, Li Keqiang, has met the Australian prime minister, Scott Morrison, on the sidelines of the Bangkok meeting, offering to help get the China-Australia relationship “on the right track”. “We are ready to work with the Australian side to keep our relationship on the right track, deepen our mutual trust, and jointly maintain regional and global peace,” Li told Morrison..."