Biden announces Indo-Pacific Economic Framework for 13 countries, a new group of Asia-Pacific relations

President Joe Biden of Tokyo stands with the new Indo-Pacific Economic Framework (IPEF) with 12 other countries in the region that are signing up together as the first members of an Asia-Pacific-focused economic partnership. I’m raising it.

“This framework is about working with close friends and partners in the region on the most important challenges to ensuring economic competitiveness in the 21st century,” Biden said. The new group does not include China or Taiwan.

Indo-Pacific leaders are gathering in Tokyo for the second Quad Summit. In addition to the launch of IPEF, Biden will hold a clear bilateral meeting with Indian Prime Minister Narendra Modi and recently inaugurated Australian Prime Minister Anthony Albanese.

National Security Adviser Jake Sullivan said the potential Taiwanese invasion “will not be part of the quad’s formal agenda,” according to a White House press conference on May 22. Discuss “serious security issues in the Indo-Pacific”. .. “

Sullivan told reporters that the United States will continue to work closely with Taiwan, taking into account the importance of autonomous islands in the world and “deepening its economic partnership with Taiwan, including high-tech issues including semiconductors and supply chains. He said he was aiming for that. Supply chain. He also reiterated US support for the Taiwan Relations Act, three joint communiqués, and one China policy guided by six guarantees.

Prior to the formal launch of the US-led framework, China’s Foreign Minister Wang Yi said: statement On May 22, the United States was forming a “small ring” under the flag of “freedom and openness” to contain China.

“The facts will prove that the so-called Indo-Pacific strategy is essentially a strategy that creates divisions, incites conflicts and undermines peace,” he said.

Sullivan replied that he already has broad membership on whether IPEF will be a “closed club,” as Beijing claims, “in addition to the countries participating in tomorrow’s launch, a few. Other countries are expected to join within a month, and years ahead. “

He said IPEF will deal primarily with economic policy, focusing on the digital economy and “safe and resilient supply chains” rather than “security arrangements.”

In addition to this, the program aims to bring the countries of the region closer together through common standards in areas such as infrastructure and clean energy.

Japan’s Prime Minister Fumio Kishida believes that China now has an important economic presence in the region prior to the official launch of the IPEF, but that other countries in the region are not fulfilling their international obligations. I told reporters that I was there.

“”[L]Examine the essence of their existence: do they comply with international rules? How about their development project? Do they care about sustainable initiatives? They are big powers, so they have to do it. They also have great responsibilities in the economic arena. They have to fulfill that responsibility. Therefore, Japan will work with the United States to persuade China to fulfill its responsibility to comply with international rules, “said Fumio Kishida.

Since the pandemic, the global supply chain has collapsed significantly, contributing to product shortages and inflationary pressures around the world.

Russia’s invasion of Ukraine exacerbated the problem of closure of Ukrainian ports, resulting in rising food prices and associated shortages, especially in vulnerable regions of Africa and Asia. The Chinese Communist Party’s “Zero Corona” policy continues to blockade Chinese people, which also contributes to global supply pressure.

Japan wants more countries to participate in IPEF, and as a result, the launch on Monday could be the beginning of a debate rather than a final decision.

Sullivan describes the United States’ ability to build mutually beneficial alliances in Asia against the backdrop of China’s economic slowdown:America [and] We want to be part of an economic deal with the United States that we are setting rules with. “

Naveen Athrappully


Naveen Athrappully is a news reporter on business and global events in The Epoch Times.