Final week, India, the US and 12 different member international locations of the Indo-Pacific Financial Framework (IPEF) concluded the Provide Chain Resilience Settlement (SCRA) geared toward enhancing coordination and response to produce chain disruptions of this type. Which we now have seen throughout the Covid-19 pandemic.
The Worldwide Surroundings and Power Discussion board is a response by the USA to its shrinking financial participation and affect in East Asia, the place China’s financial affect is rising. The USA isn’t a celebration to Asia’s huge regional commerce agreements, particularly the Regional Complete Financial Partnership (RCEP) and the Complete and Progressive Trans-Pacific Partnership (CPTPP). Subsequently, the Biden administration got here up with the thought of IPEF in 2022, clamping down on some like-minded Asian international locations apart from…
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First printed: November 19, 2023 | 11:20 pm he