What is the Indo-Pacific framework, who’s in it, why it matters
US President Joe Biden formally introduced the Indo-Pacific Economic Framework, or IPEF, this week during his first Asia tour, revealing Washington's long-awaited Asia-Pacific economic strategy. It comes five years after the US unilaterally withdrew from the Trans-Pacific Partnership, a trade deal signed by 12 countries in Asia-Pacific, North America and South America.With the US withdrawal, the remaining countries went on to launch the CPTPP, or Comprehensive and Progressive Trans-Pacific Partnership — one of the world's biggest multilateral trade deals, and one that China requested to join.Since then, the US has been largely absent in the region, made worse by its trade war with China. But the IPEF has broken the ice.Still, analysts and observers say the deal lacks "teeth" and is mor...