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Can Biden’s Asia economic plan counter China’s influence there? | Business and Economy | NEWSRUX

From: Counting the Value

The US president has launched the Indo-Pacific Financial Framework for Prosperity with 12 international locations.

The US has lacked an outlined financial plan with the Indo-Pacific area since former President Donald Trump stop a multinational trans-Pacific commerce settlement in 2017.

Now, President Joe Biden is trying to have interaction the area that has more and more come beneath China’s affect.

Biden has launched a brand new commerce take care of 12 international locations that signify 40 % of the world’s financial system – that’s nearly $35 trillion in world output. The Indo-Pacific Financial Framework for Prosperity contains Australia, India, Japan, South Korea and New Zealand, together with seven Southeast Asian international locations.

Elsewhere, Western capitals pledge billions of {dollars} to Ukraine’s financial system, however is it sufficient?

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