Joe Biden Builds New Asia-Pacific Economic Partnerships with 13 Countries

US President Joe Biden announced on Monday the start of a new economic partnership in the Asia-Pacific region in Tokyo. According to China, this Indo-Pacific economic framework brings together the first 13 countries and is “destined” for failure.

This is a project that China sees from a dim perspective. US President Joe Biden announced in Tokyo on Monday, May 23, the start of a new economic partnership in the Asia-Pacific with the United States and 13 first-participating countries, including Japan.

The Indo-Pacific Economic Framework (IPEF) is not a free trade agreement, but it provides further integration between member states in four key areas: the digital economy, supply chain procurement, green energy and the fight against corruption.

“We are committed to working with close friends and partners in the region to tackle the most important challenges to ensure the economic competitiveness of the 21st.When “Century,” added the President of the United States.

IPEF initially includes 13 countries: the United States, Japan, India and Australia. The four states that make up the diplomatic format of the “Quad” to be held in Tokyo on Tuesday are Brunei, South Korea, Indonesia, Malaysia and New Zealand. New Zealand, Philippines, Singapore, Thailand, Vietnam.

“We share our commitment to a free, open, equitable, inclusive, interconnected, resilient, safe and prosperous Indo-Pacific region.” Countries that account for about 40% of the world’s GDP said in a joint statement.

As an “open platform,” IPEF could eventually welcome other countries, said Jake Sullivan, White House’s national security adviser.

According to Beijing, the project was “destined” to fail

This American initiative appears to be clearly intended to provide an alternative to China, the world’s second-largest economy in the Asia-Pacific region, which is growing influential in the region.

Jake Sullivan has guaranteed it to be an “open platform” because it is designed and defined as such, but he feels that Beijing has been deliberately excluded and has already clarified it.

Washington is aiming to “form a small faction in the name of freedom and openness” in the hope of “containing China,” China’s Foreign Minister Wang Yi failed on an American project on Sunday. He criticized that he thought, “I will give it.”

Under Donald Trump, the White House’s predecessor Joe Biden, the United States withdrew from the Trans-Pacific Partnership (TPP) in 2017. This is a vast multilateral free trade agreement that was the subject of a new treaty in 2018 without Washington.

Joe Biden also revealed that he has no intention of resuming major free trade agreements, primarily in the face of US public opinion, which sees these treaties as a threat to employment in the United States.

However, while welcoming the IPEF, Japanese Prime Minister Fumio Kishida reiterated on Monday that he hoped the United States would eventually join the TPP’s successor.

IPEF is “more and more looking for an alternative to China,” highly regarded by the Asia-Pacific business community, said US Secretary of Commerce Gina Raimondo.

Partnership without Taiwan

However, the various experts polled by AFP are suspicious at this time.

“Since World War II, the United States has been the force of stability in the region, which seems to be based on proof that it justifies cooperation with the United States on regional issues,” said IPEF, Chief Economist of Asia. Robert Kernel estimated. Dutch bank ING Pacific.

However, he added, emerging economies in the region may be less sensitive to this historic heritage than “hardcore” Chinese investment.

Washington is trying to “disagree” with IPEF. But if it’s not a free trade agreement, especially since many Asia-Pacific countries don’t want to offend China, this partnership risks becoming “very soft,” a specialty of American politics at Sophia University in Tokyo. Kazuhiro Maeshima, the home, decided.

Singapore’s Prime Minister Lee Hsien Loong showed this fragile emblem, stating that the Byden administration “understands the importance of Asian economic diplomacy” and that “China’s economic initiative in the region is also active.” Praised IPEF. , In an interview with a Japanese daily newspaper published on Monday.

Another obvious weakness of IPEF is the significant lack of Taiwan among the participating countries. Meanwhile, the island, which Beijing wants to turn around, is a global hub for the semiconductor industry and other technologies.

Washington wants to “strengthen its strategic partnership with Taiwan,” including semiconductors and supply chains, but this will be done “on a bilateral basis,” Jake Sullivan said.