23/05/2022
📷: U.S. President Joe Biden, India's Prime Minister Narendra Modi and Japan's Prime Minister Fumio Kishida attend the Indo-Pacific Economic Framework for Prosperity (IPEF) launch event at Izumi Garden Gallery in Tokyo, Japan, May 23, 2022.
👉 U.S. President Joe Biden announced on Monday the launch of the Indo-Pacific Economic Framework (IPEF), which includes a dozen Indo-Pacific countries and is designed to provide a counterweight against Chinese economic clout in the region.
“The future of the 21st Century economy is going to largely be written in the Indo-Pacific — in our region,” Biden said during IPEF’s launch event. “We’re writing the new rules.”
The countries joining the launch are Australia, Brunei, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and Vietnam. Biden was joined in person by Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi at the launch event in Tokyo, and virtually by the others.
IPEF is seen as a key step in the U.S. effort to re-engage Indo-Pacific nations on trade more than five years after the U.S. withdrew from a regional comprehensive trade pact, the Trans-Pacific Partnership known as TPP.
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