IPEF Challenges

The recently concluded Quad summit in Tokyo Japan, has stirred the geo strategic world. In the context of the Coronavirus pandemic and the Ukraine crisis, it was an important summitlevel meeting where the future of the Indo Pacific was deliberated upon. The one significant outcome of the summit was the announcement of Indo Pacific Economic Framework for Prosperity. Its aims include, inter alia, “to advance resilience, sustain ability, inclusiveness, economic growth, fairness and competitiveness” in the Indo-Pacific region. The verticals on which IPEF stands are – Trade including Digital economy; Supply Chains including access to key raw and processed materials; semiconductors; critical minerals; Clean Energy; Decarbonization and Infrastructure, and Tax and Anti-Corruption. The members of IPEF include India, Australia, Brunei Darussalam, Indonesia, Japan, Republic of  Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, the USA and Vietnam. Prima facie, the creation of IPEF is aimed to provide aviable economic alternative to like-minded countries in the Asia Pacific that have a vested interest in a democrat ic, free, and open Indo Pacific.Concomitantly it can be argued that IPEF is also trying to balance the rise of China and offsetting any untoward outcome due to Chinese ascendance.

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