U.S. announces major Asia economic deal in effort to boost profile, counter China

Posted on AllSides May 23rd, 2022
From The Center
Politics, Asia, Economy, Indo-Pacific Economic Framework
Saul Loeb | AFP | Getty Images

In a move to raise its economic profile and create another counterbalance to China within Asia, the United States announced on Monday the Indo-Pacific Economic Framework with Asian partners including Australia, Japan and the Republic of Korea.

It’s a broad plan designed to help expand the U.S.′ “economic leadership” in the Indo-Pacific region. The group wants to set international rules on the digital economy, supply chains, decarbonization and regulations applying to workers.

U.S. President Joe Biden has said tackling inflation is a priority and this framework is designed to help lower...

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