China has proposed a free-trade bloc among the five BRICS countries in a bid to enhance economic ties within the decade-old grouping, as its geopolitical rivalry heats up with the United States.
The framework is another attempt to bring India into the Western fold while positioning it more strategically in the Indo-Pacific trade network
Joe Biden’s government is analyzing the possibility of launching "strong measures" against Managua at the invitation of external armies, especially "one that has invaded another country," says a US official.
Korea seeks stronger presence in the region as tensions between Israel and Arab countries thaw.
The European Union (EU) is now looking to do more business with India by way of greater investments in Europe as tension with Russia over the Ukraine war and geopolitical concerns with China pose massive challenges to the bloc and the world at large.
China’s government says it remains confident it can strike a sweeping trade and security agreement with 10 Pacific Island states despite being forced to shelve its proposed agreement.
Pacific Island countries have agreed not to sign a region-wide trade and security deal with China after a high-level meeting between Chinese Foreign Minister Wang Yi and his counterparts from 10 Pacific nations in Fiji.
Except for India and the US, all other nations in IPEF are part of the RCEP rival bloc. India’s aversion to a pact which includes China has geopolitical considerations at its root.
China has put forward plans to dramatically expand security and economic cooperation with South Pacific nations, in what one regional leader called a thinly veiled effort to lock them into "Beijing’s orbit"
Unlike traditional FTAs, the IPEF employs a menu-based approach in which countries would launch separate negotiations under the four pillars of the initiative.
Tailored pact seeks to counter China’s clout while protecting US workers.
The IPEF represents continuity between the colonialist past and neocolonialist present in the Indo-Pacific region.
IPEF is created to encourage regional economies to “decouple” from the Chinese market by leading them to alternative supply chains.
Council will focus on areas like 5G and AI, seek to deepen cooperation in trade and security. Experts say it’ll ’smoothen’ overall FTA negotiations between India and EU.
Asian and American trade experts characterize the framework as “weak tea,” consisting of “all of the things the US considers important” but little for Indo-Pacific nations in return for their membership obligations.
After a long hiatus, India has resumed its engagement with trade pacts. To what extent do these deals weigh on economic considerations? More importantly, how similar are they to strategic alliances?
The Indo-Pacific Economic Framework seeks to establish trade rules and is widely seen as an effort by the US to counter China’s influence in the Asia-Pacific region.
Unless the Biden administration chooses the right path, the Indo-Pacific Economic Framework will be more or less forgotten by the end of the year.
Both members of the Quadrilateral Security Dialogue along with the U.S. and Japan, look to manage difficult relations with China and promote a "free, open and inclusive Indo-Pacific."
There is a growing need to analyse the free trade agreements to understand their impact on the economy and the geopolitical repercussions that follow.