Indo-Pacific Economic Framework for Prosperity will include 12 Asia-Pacific members, including South Korea and Japan.
US President Joe Biden officially launched his long-awaited economic framework aimed at countering growing Chinese influence in Asia, announcing 12 Asia-Pacific partners who will work on common standards in areas including clean energy and infrastructure.
Biden unveiled the Indo-Pacific Economic Framework for Prosperity (IPEF) in Japan on Monday during the second leg of an Asia trip aimed at shoring up US engagement in the region.
The IPEF, which aims to boost ties through common standards in supply-chain resilience, clean energy, infrastructure and digital trade, will initially include South Korea, Australia, Brunei, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam.
The framework includes four pillars: trade; supply chains; clean energy and infrastructure; and tax and anti-corruption.
“The United States is an Indo-Pacific economic power, and expanding US economic leadership in the region is good for American workers and businesses — as well as for the people of the region”, the White House said in a statement for the launch....
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