Global lawyers are not expecting to see much of an impact from last week’s signing by 15 Asia-Pacific nations of the world’s largest trade agreement, with some describing it as more symbolic than effective.

The Regional Comprehensive Economic Partnership (RCEP), signed virtually on Nov. 15 by Australia, China, Japan, South Korea, New Zealand, and the 10 members of the Association of Southeast Asian Nations (ASEAN), could add almost $186 billion annually to the global economy by 2030, economists say. But the legal industry’s reaction to the trade pact has been lukewarm, at best.

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