The Biden administration is preparing to unveil its first broad economic strategy for the Asia-Pacific region, a move awaited by US allies and American business groups that are uneasy about China’s expanding influence in the region, The Wall Street Journal reported.
With the new Indo-Pacific Economic Framework, the US aims to work more closely with friendly nations on issues including digital trade, supply chains and green technology. The framework is aimed at filling the hole in the US’ Asia strategy left by its 2017 departure from the Trans-Pacific Partnership, a robust trade agreement the US had helped to design as a counterweight to China.
Read the full report: WSJ.
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