Asia Pacific: Joe Biden announces new economic partnership with 12 countries in the region to counter China

US President Joe Biden launches a new economic deal in Asia to counter China’s influence. He announced 12 regional partners who will work together on common standards in areas such as clean energy and advances in the 5G network.

The 12 countries involved are Australia, Brunei, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and Vietnam.

All of these partners, with the exception of Australia and India, are also signatories to China’s Belt and Road Initiative.

Protect yourself from rising prices

On his first visit to Japan as President Joe Biden introduced the “Indo-Pacific Economic Framework for Prosperity”.. In his speech delivered on Monday, he identified four key pillars: trade, supply chains, sustainable energy and infrastructure – without forgetting taxation and the fight against corruption.

At the same time the White House affirmed that this new partnership will ensure that supply chains in the region develop greater resilience to protect against rising consumer prices.

“We are here today for one simple reason: the future of the 21st century economy.and Century is largely written in the Indo-Pacific region,” said Joe Biden in Tokyo.

A multiple engagement

The American President specifies that this partnership is “a commitment to [améliorer] Security and confidence in the digital economy, protecting workers, strengthening supply chains and fighting the corruption that robs nations of their ability to serve their citizens.”

He then added that he would aim to eliminate critical supply chain bottlenecks and carbon from the economy, and work towards clean energy and the development of “early warning systems” to spot problems before they happen.

“Let’s start with new rules for trading digital goods and services so companies don’t have to give up their proprietary technology to do business in a country,” Biden said.

strengthen relationships in the region

In 2017, former President Donald Trump withdrew from the Trans-Pacific Partnership. Joe Biden is now trying to solidify US support in this region with this new deal.

In South Korea, President Yoon Suk Yeol pledged to support the agreement while announcing that the country is now a signatory to the “Statement for the future of the internet“.

Google expects his page a greater commitment to cooperation on cybersecurity in the region; and a commitment to the free flow of data between countries and companies. “Now is the time for countries in the Indo-Pacific region to embark on a bold, inclusive and sustainable path to address common challenges and seize the tremendous opportunities that the digital economy can bring,” said the American giant .

Source : ZDNet.com

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