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The IPEF holds promise but there are perils too
IPEF expanded its membership to the Pacific Island states, with Fiji joining the initiative. The IPEF reignites the twin ambitions of the U.S. to provide economic leadership and to challenge China’s hegemony in the region.
IPEF Aspirations
- Countering China: The initiative aims to counter China’s muscular nationalism and expansionist ambitions by providing an alternative to China in the region.
- Economic Cooperation and Integration: It will be beneficial in terms of cooperation in investment and technology development for clean energy, strengthening supply chains, and curbing corruption.
- Opportunity for India: India’s joining of IPEF is a strong statement of commitment to Indo-Pacific goals, and to broadening regional economic cooperation, particularly after it walked out of the 15-nation RCEP.
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