The U.S. Department of Commerce is leading negotiations on the India-Taiwan Economic Framework, said U.S. Commerce Secretary Raymond Raimondo on Tuesday
Focusing on areas such as supply chain resilience, clean energy infrastructure, taxation and anti-corruption,
the U.S. government has also worked to include digital issues such as data localization and cross-border data flows in the negotiations
The Indo-Pacific Economic Framework was conceived by Biden at the East Asia Summit last October as a way to fill the space vacated by the US after it pulled out of the TRANS-Pacific Partnership (TPP) PPT during the Trump administration
The Diplomat magazine reported that although Biden proposed the India-Taiwan economic framework last year, it has been an empty shell and Allies do not trust it to bring real benefits
And that's what Biden is trying to put flesh on the bones of that framework and that economic framework is exactly the same as the so-called Indo-Taiwan strategy
All products of the Cold War mentality aimed at China and the US Commerce Secretary Raymond Said the new economic framework included coordinated export controls
In order to restrict the export of sensitive products to China, U.S. Trade Representative Dai Chi publicly declared that the India-Taiwan economic framework is an independent arrangement from China
Us Ambassador to Japan Rahm Emanuel recently blurted out in an interview with Japanese media that the INDO-Pacific economic framework would reject China's entry into the indo-Pacific
Economic framework its main purpose I think is to squeeze out China for that purpose
I think it's hard to get momentum because the economic cooperation mechanism in the Asia Pacific region is already very well developed
Japanese Prime Minister Fumio Yasuda plans to show his country's interest in joining the India-Thailand Economic Framework at a daily leaders' meeting next Monday
South Korea's presidential office said Wednesday that it would like to attend the meeting in Japan by video link next Tuesday
Yonhap news agency, the summit that announced the establishment of the UK-Taiwan economic framework,
South Korean President Yin Xi-wol was likely to make it clear to Biden during a U.S.-South Korean summit on Saturday
However, the Japanese and Korean media are concerned about the practical effect and negative impact of the Indo-Thai economic framework
Japan's Kyodo news agency said the UK-Pacific economic framework does not discuss tariff cuts for Asian countries looking to expand exports to the United States
Japan, which uses the framework as a springboard to bring the United States back to PPT, will face a difficult choice, Hanyeolsa commentary reported
The Indo-Taiwan economic framework is an anti-China alliance that pushes China out of the global supply chain
Kim Tae-hyo, the first deputy director of South Korea's National Security Council, told a press conference on Wednesday that the U.s.-led Economic framework with Taiwan, which South Korea has decided to join, does not exclude China
China is the number one manufacturing power so in this case
In fact, Japan and South Korea are inseparable from the economic and trade relationship with China and the Chinese market. So in this case, I think
Although if Japan and South Korea join this Indo-Thai economic structure, it will have a negative impact on its economic and trade relations with China
But I don't expect it to be as much as the US has set aside as a small economic framework for India and Taiwan during US President Joe Biden's upcoming Trip to Asia on Thursday
As well as South Korea and Japan said to join China in response to what China has always considered any
Regional cooperation frameworks should not target or undermine the interests of any third party
Nihon Keizai Shimbun analyzed that the competition for the leadership of the asia-pacific economic order is intensifying
China has applied to join the Comprehensive and Progressive Trans-Pacific Partnership (CPTP), while the REGIONAL Comprehensive Economic Partnership (RCEP) ii C, to which China and Japan are also parties, has also come into force
However, the so-called India-Taiwan economic framework does not involve the market opening demanded by Asian countries. It still faces a high threshold to build an economic circle to counter China
There are limited economic benefits for emerging markets in exchange for accepting the high-level rules America is demanding
Indeed, the Biden administration plans to implement the India-Taiwan economic framework in the form of administrative measures rather than traditional trade agreements that require congressional approval
That means the Biden administration won't be able to offer any other concessions to participating countries, including increased market access and legal changes
Reuters reports that most asean members will not be initial members of the India-Taiwan economic framework
The Center for Strategic and International Studies has shown that many ASEAN countries worry that the United States is taking more from the framework than it is giving
Framed more as political maneuvering for American self-interest than as a genuine initiative for economic cooperation
One is China's economic influence in the region, China's position in the chain
And the potential of the Chinese market is so huge that these countries are not going to completely follow the United States
To go against China or to decouple from China I think is unlikely because it would not be in their interest to do so
The national interest so I think they're going to weigh this against this against the United States
The so-called initiative may take a perfunctory attitude and in fact the prospects of the Indo-Pacific economic framework are not very good in the United States
Some MEMBERS of the U.S. Congress have criticized the new framework as lacking substance
The redefinition of the Asia-Pacific region as the Indo-Taiwan region is undermined by logically contradictory policies
The so-called India-Taiwan strategy fails to take into account the trend of regional economic integration and lacks a real trade policy