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Newsline: China lashes out at US-led Asia-Pacific trade diplomacy

China has lashed out at a trade initiative led by the US, which aims to establish mutually agreed standards in four key areas including the digital economy and supply chains. Beijing has described the move as the Biden administration’s attempts to “contain” China and create divisions. (https://www.zdnet.com/article/china-lashes-out-at-us-led-asia-pacific-trade-framework/) The Indo-Pacific Economic Framework (IPEF) was launched on Monday with 12 participating nations from the region, including Singapore, Australia, India, Indonesia and Japan. This group accounted for 40% of global GDP and 60% of the world’s population. It is expected to the largest contributor of global growth over the next three decades, according to the US government. It touted the benefits of the new framework for America, adding that trade with the Indo-Pacific supports more than 3 million American jobs. Brunei, South Korea, Malaysia, New Zealand, the Philippines, Thailand, and Vietnam also are part of the trade framework.

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