Page 12 - Pef News Today

Companies worldwide should look to simplify and diversify their supply chains after the shocks of the pandemic and Ukraine invasion, and with a recession looming. However, it is not in their interests to relocate manufacturing to US friends and allies, as the Biden administration is advocating.

[ANALYSIS] Korean exporters start rethinking China strategy

US-led chambers among 15 international associations in combined push for regional trade agreements, but China group silent.

Govt launches task force on new US-led economic framework

US lawmakers are reportedly to soon introduce legislation to funnel more money to the so-called

Chinas anxieties over Korea joining Indo-Pacific framework

In the past, America’s push for globalisation has benefited the region. Now less dominant in the world economy, the US hopes to reverse such integration to undermine China, but it won’t succeed.

Insisting on a ‘with us or against us’ world view will leave Washington out of step with an Indo-Pacific eager for Chinese involvement and cooperation instead of confrontation.

The US is using a new trick to cheat the island of Taiwan with the so-called “US-Taiwan Initiative on 21st-Century Trade” and people on the island will not get any concrete benefits, but they could be further used by Washington to serve its strategic goal to provoke the Chinese mainland, said experts from both the mainland and Taiwan.

Neither the IPEF nor the Taiwan talks will include the tariff reductions and enhanced market access offered by traditional free trade agreements. Bianchi said IPEF is meant to be a "21st century agreement to really address 21st century problems," including barriers to digital trade such as data localization requirements or onerous regulations that make it difficult for companies to operate in some countries.