IPEF and RCEP:Differences,Impacts and Considerations
The Indo-Pacific Economic Framework(IPEF)is the economic pillar under the Biden Administra-tion's Indo-Pacific strategy.In the context of the full implementation of the Regional Comprehensive Economic Partnership(RCEP),the emergence of IPEF will have a significant impact on the economic and trade landscape in the Asia-Pacific region.Both IPEF and RCEP are large-scale regional economic and trade agreements,with differences in member countries,economic scale,operating mechanisms,rule content and strategic intentions.The potential impact of the U.S.promoting IPEF on RCEP mainly revolves around digital economic and trade rules,regional supply chain systems and the economic development pattern in the Asia-Pacific region.In response to this,RCEP member coun-tries should accelerate their layout,strengthen regional cooperation relationships,further deepen RCEP cooperation and improve rules in related fields.While mitigating the impact from IPEF,they should continuously explore the path of economic and trade development in the Asia-Pacific region and further promote regional economic integration through cooperation.
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