In 2023,the US Biden administration has accelerated negotiations on the Indo-Pacific Economic Framework(IPEF),indicating that competition for the direction of economic or-der in the Asia-Pacific region has become fierce.As the regional power structure changes,the strategic implications of economic relations in the Asia-Pacific are becoming increasingly complex,and how the major powers use economic cooperation to influence strategic relations has become a key issue.The strategic effects of trade agreements include not only the"stra-tegic stability effect"between partners,but also the"strategic externalities"for non-partici-pants,which are affected by the depth of economic cooperation and constitute two basic paths of"functionalization"and"securitization".In the past decade,China has supported ASEAN to lead regional economic cooperation based on the"strategic stability effect"of trade agreements,and this strategy has facilitated the functional development of regional eco-nomic cooperation.The United States has used the"strategic externalities"of trade agree-ments to pursue geopolitical interests,and this policy stimulated regional economic coopera-tion to become more securitised.
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