On the afternoon of May 23, local time, US President Joe Biden announced the launch of the "Indo-Pacific Prosperity Economic Framework" (IPEF) during his visit to Japan, and Singapore was one of the 13 initial members.
According to the Japanese media "Nikkei Asia" reported on May 23, on the 22nd, SingaporeAn Prime Minister Lee Hsien Loong had been interviewed by the media when ipef was not yet launched, he said at the time that Singapore welcomes and will join the IPEF, but he believes that the fledgling IPEF is not a free trade agreement, "can not completely replace the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP)", hoping that the United States can reconsider the withdrawal of the CPTPP.
Lee Hsien Loong also highlighted China, pointing out that China, the "economic giant," has been systematically involved in Asia-Pacific affairs in recent years and has put forward a number of initiatives for cooperation, which he supports. He also stressed that supporting China's accession to the CPTPP, a free trade agreement, in Lee Hsien Loong's view, a prosperous and developing China that actively participates in regional affairs is of positive significance to the Asia-Pacific region.
According to the Associated Press, the Biden administration-led IPEF aims to fill a strategic gap caused by the Trump administration's withdrawal from the Trans-Pacific Partnership (TPP). However, the real appeal of the framework has been questioned due to the lack of practical content, such as market access.
On the same day that IPEF was launched, China's Ministry of Foreign Affairs responded that China, like regional countries, is happy to see initiatives conducive to strengthening regional cooperation, but opposes attempts to create separatist confrontation. Trying to isolate China with a framework will only isolate itself in the end.
Screenshot of the Nikkei Asia report
Singapore's Lee Hsien Loong will reportedly attend the "Future of Asia" international conference (hosted by Nikkei Shimbun) opened in Japan on May 26, and before he left (22nd), he was interviewed by Tetsu Inuguchi, editorial director of the Nihon Keizai Shimbun, before Biden announced the launch of IPEF.
Nikkei Asia pointed out that Lee Hsien Loong's interview comes at a time when China and the United States are adopting different strategies to expand their influence in the Asia-Pacific region.
The U.S. is pushing for IPEF as a tool to strengthen cooperation with Asian partners, and the Biden administration has made it clear that it is not a free trade agreement, but a set of standards for the digital economy, supply chain resilience, decarbonization, infrastructure, and sustainable food development.
China has placed more emphasis on trade agreements, and already a member of the Regional Comprehensive Economic Partnership (RCEP), it is also applying to join another regional trade agreement, the current 11-member CPTPP.
Lee Hsien Loong argued in an interview that the fledgling IPEF in the Biden administration "cannot completely replace the CPTPP" and hopes that one day, when the political conditions in the United States are ripe, this agreement (CPTPP) can be reexplored.
More than a decade ago, the Obama administration pushed the TPP in an attempt to limit the impact of China's economy, but Trump signed an executive order to "abandon" the TPP on his first day as president, and the TPP was reorganized into the CPTPP. The Biden administration, which is pushing for IPEF, has made it clear that the United States will not reconsider the CPTPP.
"Ideally, you would want the U.S. and Asian countries to have a free trade deal, but they can't." Lee Hsien Loong also believes that IPEF is not a free trade agreement, but a framework to reflect the intention of all parties to cooperate on projects related to the region. But he added that IPEF, while not concrete, was a "forward-looking issue" that was an important sign that the Biden administration understood the importance of economic diplomacy in Asia, and that Singapore encouraged.
Lee Hsien Loong was interviewed exclusively by Tetsu Iguchi, editorial director of Nihon Keizai Shimbun, and the picture is from the website of the Prime Minister's Office of Singapore
Speaking about China, Lee Hsien Loong pointed out that this "economic giant" has also been systematically participating in the affairs of the Asia-Pacific region, such as using the "Belt and Road" initiative to accelerate infrastructure development in Asia, proposing the "Global Development Initiative" to promote international cooperation, and supporting the development of less developed countries in the post-epidemic era.
"We think these are positive." Lee Hsien Loong said he supports the cooperation between the two initiatives proposed by the Chinese side and supports China's accession to the CPTPP, a free trade agreement.
"A prosperous and developing China that participates in regional affairs is far stronger than a China that goes its own way, does not integrate and coordinate with other countries in the region, and does not follow the rules." If China fails, is poor, and unstable, it will also bring many difficulties to the Asia-Pacific region. Lee Hsien Loong thinks so.
In September last year, China formally applied to join the CPTPP, and since then the Taiwan authorities have also come to "brush up on the sense of existence" and apply for taiwan to join the CPTPP.
As Singapore is the chairmanship of the CPTPP committee in 2022, Lee Hsien Loong described Singapore as having to play the role of "traffic policeman" this year. "The presidency will consult with member states, make their own views and, if there is consensus, start negotiations and start the accession process," he said. I believe that this process and consultation will take a while and that every country will have a different perspective. ”
"Nihon Keizai Shimbun" earlier published an analysis that the Taiwan region is trying to join the CPTPP "full of difficulties", because the international community recognizes the "one-China" principle, and China and the South American countries in the CPTPP have relatively close relations, so in the face of the "unanimous consent of members" entry threshold, the Taiwan region will be very difficult to join.
On March 8, 2018, 11 countries in Chile jointly signed the CPTPP picture from Xinhua News Agency
Shortly after Lee Hsien Loong accepted this interview, on the afternoon of May 23, local time, US President Biden, Japanese Prime Minister Kishida Fumio and Indian Prime Minister Narendra Modi held an IPEF launch ceremony at the Izumi Garden Gallery in Roppongi, Tokyo, and other leaders or ministerial officials of the original member countries participated remotely by video.
Video screenshots
The White House announced that the latest Asia-Pacific economic vision includes 13 initial member states, accounting for 40% of the world's GDP. In addition to the United States, the other 12 initial member states are: Australia, Brunei, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, philippines, Singapore, Thailand and Vietnam.
According to the Observer Network, 11 of the 15 members of the RCEP (Regional Comprehensive Economic Partnership) and 7 of the 11 members of the CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) signed up to join IPEF. Seven countries (Malaysia, Singapore, Australia, New Zealand, Vietnam, Brunei, Japan) are also members of the three frameworks of RCEP, CPTPP and IPEF.
Observer Network collates the cartography
U.S. Trade Representative Dai Qi told the media on May 20 that IPEF was to counter China's influence in the region. However, some American scholars believe that the framework is not expected to give tangible benefits to those involved "partners". Other scholars say the definition of the framework is still vague, and if it chooses not to engage directly with China, the US strategy will be doomed to failure.
Regarding the official announcement of the launch of the Indo-Pacific Economic Framework, Chinese Foreign Ministry spokesman Wang Wenbin said on May 23 that as State Councilor and Foreign Minister Wang Yi pointed out, China, like regional countries, is happy to see initiatives conducive to strengthening regional cooperation, but opposes attempts to create separatist confrontation. China believes that no matter what the name of the regional cooperation framework, it should promote free trade, should not engage in disguised protectionism, should contribute to the recovery of the world economy, should not undermine the stability of the industrial chain, should promote open cooperation, and should not create geopolitical confrontation. The US side should earnestly act in accordance with the rules of free trade, rather than starting another stove and developing another set of systems, impacting the current regional cooperation structure and reversing the wheel of regional integration.
Wang Wenbin pointed out that whether the United States is politicizing, weaponizing, and ideologizing economic issues and using economic means to coerce regional countries to take sides between China and the United States, the US side owes the regional countries a statement. Artificially creating economic decoupling, technological blockade, industrial chain disconnection, and exacerbating the supply chain crisis will only bring serious consequences to the world, and the United States is no exception. The US side should know and correct its mistakes, rather than making mistakes again and again. The code for success in the Asia-Pacific region is win-win cooperation, not zero-sum confrontation. The Asia-Pacific region should become a highland of peaceful development, not a geopolitical dueling ground, and all kinds of conspiracies to camp, NATO, and cold war in the Asia-Pacific region cannot succeed. Trying to isolate China with a framework will only isolate itself in the end.
State Councilor Wang Yi said on the 22nd that China, like regional countries, is happy to see initiatives conducive to strengthening regional cooperation, but opposes the attempt to create separatist confrontation. What category does the U.S. "Indo-Pacific Economic Framework" fall into? First of all, we must draw a big question mark and see through the hidden plot behind it.
This article is an exclusive manuscript of the Observer Network and may not be reproduced without authorization.