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The so-called Indo-Pacific Economic Framework initiated by the United States but excluding China presents as an instrument at odds with the trend of regional economic integration, say experts who point to China's vital role in trade and development.
The IPEF - a U.S.-initiated trade and development partnership - is poised to bring in enthusiastic participation from several nations in the Asia-Pacific region. Notably, Southeast Asian states are well represented among members, giving the U.S. considerable influence right in China’s backyard.
Takatoshi Ito explains why US President Joe Biden’s new regional economic initiative has failed to generate much enthusiasm.
The IPEF’s primary regulatory focus will be on digital trade, said William Reinsch, a former high level US official in the Clinton Administration.
The Biden administration is prioritizing its foreign policy strategy in Asia by extensive outreach and alliances in the region. Strategic partnerships with other countries, particularly in the Indo-Pacific , are crucial for the U.S. to keep up with China’s growth in the region.