Biden’s Indo-Pacific Economic Framework Is a Paradigm Shift
The Biden administration’s recently announced Indo-Pacific Economic Framework for Prosperity (IPEF), which aims to strengthen cooperation between the United States and multiple Asian nations on economic, trade, and technology issues, has elicited a fairly consistent response both domestically and internationally: Nice job, but try again. IPEF is a trade partnership, not a formal trade agreement, and foreign nations say what they really want is access to U.S. markets that the latter would have guaranteed. Many in the U.S. trade policy community agree, arguing that IPEF is a well-meaning but largely hollow effort.
Both are wrong. The United States can no longer afford to trade U.S.… Seguir leyendo »