The Regional Comprehensive Economic Partnership (RCEP) presents strong potential to mold regional trade and investment patterns well into the future and to influence the direction of global economic cooperation at a challenging time. This paper evaluates the RCEP’s impact on global and regional incomes, trade, economic structure, factor returns, and employment using a computable general equilibrium model. The results suggest that the RCEP agreement could generate sizable global income gains. Together with the Comprehensive and Progressive Agreement on Trans-Pacific Partnership, the RCEP will also strengthen the region’s manufacturing supply chains, raising productivity and increasing wages and employment.