{"id":1488189,"date":"2022-05-23T08:59:46","date_gmt":"2022-05-23T12:59:46","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1488189"},"modified":"2022-05-23T08:59:48","modified_gmt":"2022-05-23T12:59:48","slug":"biden-announces-13-nation-indo-pacific-economic-framework","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-announces-13-nation-indo-pacific-economic-framework\/","title":{"rendered":"Biden Announces 13-Nation Indo-Pacific Economic Framework"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-announces-13-nation-indo-pacific-economic-framework%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1488189&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>President Joe Biden in Tokyo is launching a new Indo-Pacific Economic Framework (IPEF) with 12 other countries in the region, who together are signing up as the first members of the economic partnership focusing on the Asia-Pacific.<\/p>\n<p>\u201cThis framework is a commitment to working with our close friends and partners in the region on challenges that matter most to ensuring economic competitiveness in the 21st century,\u201d Biden said. The new collective will not include China or Taiwan.<\/p>\n<p>Indo-Pacific leaders are congregating in Tokyo for a\u00a0second Quad Summit. In addition to launching the IPEF, Biden will hold distinct bilateral meetings with Indian Prime Minister Narendra Modi and recently-sworn-in Australian Prime Minister Anthony Albanese.<\/p>\n<p>According to a May 22 White House press gaggle, National Security Advisor Jake Sullivan said that a potential Taiwanese invasion \u201cwon\u2019t be part of the formal agenda of the Quad,\u201d but the countries will discuss \u201csignificant security issues in the Indo-Pacific.\u201d<\/p>\n<p>Sullivan told reporters that the United States continues to work closely with Taiwan, looking to \u201cdeepen our economic partnership with Taiwan, including on high-technology issues, including on semiconductors and supply chains,\u201d considering the importance of the self-ruled island in global supply chains. He also reiterated the United States\u2019 support for the One China policy\u00a0guided by the Taiwan Relations Act, three joint communiques, and six assurances.<\/p>\n<p>Ahead of the formal launch of the U.S.-led framework, Chinese foreign minister Wang Yi said in a <a href=\"https:\/\/www.fmprc.gov.cn\/wjbzhd\/202205\/t20220522_10690865.shtml\">statement<\/a> on May 22 that\u00a0the United States was forming \u201csmall circles\u201d under the banner of \u201cfreedom and openness\u201d to contain China.<\/p>\n<p>\u201cFacts will prove that the so-called Indo-Pacific strategy is in essence a strategy to create division, to incite confrontation, and to undermine peace,\u201d he said.<\/p>\n<p>On whether IPEF will be a \u201cclosed club,\u201d as alleged by Beijing, Sullivan replied that it has already secured a wide-ranging membership and, \u201cin addition to the countries that join for the launch tomorrow, others will come along in the months and years ahead.\u201d<\/p>\n<p>The IPEF is \u201cnot a security arrangement\u201d and will deal with mostly economic policies focusing on digital economies and \u201csecure and resilient supply chains,\u201d he said.<\/p>\n<p>Besides this, the program seeks to bind regional countries more closely through common standards in areas like infrastructure and clean energy.<\/p>\n<p>Japanese Prime Minister Fumio Kishida told reporters ahead of the formal\u00a0IPEF launch that while China is currently demonstrating a significant economic presence in the region, other countries in the region do not believe it is not living up to its international obligations.<\/p>\n<p>\u201c[L]ook into the substance of their presence: Are they abiding by international rules? What about their development projects. Are they caring about sustainable initiatives? They have to do that because they are a major power. They have a significant responsibility even in the economic field; they have to live up to that responsibility. So Japan will cooperate with the United States, and vis-a-vis China, persuade them to live up to their responsibility to abide by international rules,\u201d Kishida said.<\/p>\n<p>Since the pandemic, global supply chains have been greatly disrupted, contributing to product shortages across the world and also to inflationary pressures.<\/p>\n<p>The Russian invasion of Ukraine has exacerbated the problem with closure of Ukrainian ports that has resulted in increased food prices and related shortages especially in vulnerable regions of Africa and Asia. The Chinese Communist Party\u2019s \u201czero-COVID\u201d policies keeping Chinese in lockdown are also contributing to global supply pressures.<\/p>\n<p>Japan wants more nations to join the IPEF, which may result in Monday\u2019s launch marking a start of discussions rather than finalizations.<\/p>\n<p>Regarding the American ability to build mutually beneficial alliances in Asia against a backdrop of China\u2019s economic slowdown, Sullivan said, \u201cWhen you see the breadth of participation in IPEF tomorrow, we believe that that will be strong evidence that countries do want to bet on the United States [and] do want to be part of an economic arrangement with the United States where we\u2019re setting rules together.\u201d<\/p>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n\t\t\t\t\t<a href=\"https:\/\/www.theepochtimes.com\/author-naveen-athrappully\"><\/a><\/p>\n<p>Follow<\/p>\n<\/div>\n<p>Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.\n<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden in Tokyo is launching a new Indo-Pacific Economic Framework (IPEF) with 12 other countries in the region, who together are signing up as the first members of<\/p>\n","protected":false},"author":498,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1488189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1488189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1488189"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1488189\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1488189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1488189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1488189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}