U.S. announces major Asia economic deal in effort to boost profile, counter China
2022-05-24 09:10:00 source：CNBC
May 23, 2022
TOKYO — 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 costs by making supply chains more resilient in the longer term.
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