{"id":186859,"date":"2022-05-27T22:06:56","date_gmt":"2022-05-27T16:36:56","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=186859"},"modified":"2022-05-28T09:48:23","modified_gmt":"2022-05-28T04:18:23","slug":"answered-the-indo-pacific-economic-bloc-offers-india-a-new-opportunity-however-there-is-a-need-to-re-examine-our-traditional-positions-to-make-the-most-of-economic-integration-under-the-ipef-eluc","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/answered-the-indo-pacific-economic-bloc-offers-india-a-new-opportunity-however-there-is-a-need-to-re-examine-our-traditional-positions-to-make-the-most-of-economic-integration-under-the-ipef-eluc\/","title":{"rendered":"[Answered] The Indo-Pacific economic bloc offers India a new opportunity, however, there is a need to re-examine our traditional positions to make the most of economic integration under the IPEF. Elucidate."},"content":{"rendered":"<table>\n<tbody>\n<tr>\n<td width=\"624\"><strong>Introduction: <\/strong>Write a brief introduction of IPEF.<br \/>\n<strong>Body<\/strong>: Write some opportunities given by IPEF and also write some existing issues.<br \/>\n<strong>Conclusion<\/strong>: Write a brief conclusion.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>IPEF is a <strong>US-led initiative<\/strong> that aims to strengthen economic partnership among participating countries to enhance resilience, inclusiveness, economic growth, fairness, and competitiveness in the Indo-Pacific region. <strong>India became one of the 13 countries to be the initial partners of IPEF<\/strong>, countries including Brunei, Japan, Australia, Indonesia, South Korea, Malaysia, New Zealand, Vietnam, Thailand, Singapore and Philippines, <strong>representing almost 40 percent of world GDP<\/strong>.<\/p>\n<p><strong>New opportunities:<\/strong><\/p>\n<ul>\n<li><strong>Trade:<\/strong> It includes digital economy and emerging technology, labour commitments, the environment, trade facilitation, transparency and good regulatory practices and corporate accountability, standards on cross-border data flows and data localisations.<\/li>\n<li><strong>Supply chain resiliency: <\/strong>It intends to develop \u201ca first-of-its-kind supply chain agreement\u201d that would anticipate and prevent disruptions.<\/li>\n<li><strong>Clean energy and decarbonisation<\/strong>: It also include agreements on \u201chigh-ambition commitments\u201d such as renewable energy targets, carbon removal purchasing commitments, energy efficiency standards, and new measures to combat methane emissions.<\/li>\n<li><strong>Tax and anti-corruption<\/strong>: It has provisions with commitments to enact and enforce effective tax, anti-money laundering, anti-bribery schemes to combat tax evasion and corruption.<\/li>\n<\/ul>\n<p>However, to make the most of economic integration under the IPEF, following persistent issues must be resolved:<\/p>\n<ul>\n<li>Taxes and anti-bribery provisions of IPEF can pose problems as presently taxation is a sovereign function, therefore not subject to negotiations.<\/li>\n<li>There are issues of labour rights, environmental standards and protection of intellectual property rights.<\/li>\n<li>Digital trade and e-commerce are also affected with the issues of transparency, fair competition and the ownership and localisation of personal data.<\/li>\n<li>IPEF is different from multilateral trade negotiations as it will not require a consensus. So, countries who do not agree will be left-out and will not get a better deal later.<\/li>\n<\/ul>\n<p>The Indo-Pacific accounts for <strong>63 percent of the world\u2019s GDP<\/strong> and 46 percent of the world\u2019s merchandise trade. India has been at the centre of trade flows in the Indo-Pacific Region and the IPEF is a declaration of a collective desire to make the region an engine of global economic growth. So, for resilient supply chains the focus should be on <strong>3Ts-Trust, Transparency and Timeliness<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Introduction: Write a brief introduction of IPEF. Body: Write some opportunities given by IPEF and also write some existing issues. Conclusion: Write a brief conclusion. IPEF is a US-led initiative that aims to strengthen economic partnership among participating countries to enhance resilience, inclusiveness, economic growth, fairness, and competitiveness in the Indo-Pacific region. India became one&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/answered-the-indo-pacific-economic-bloc-offers-india-a-new-opportunity-however-there-is-a-need-to-re-examine-our-traditional-positions-to-make-the-most-of-economic-integration-under-the-ipef-eluc\/\">Continue reading <span class=\"screen-reader-text\">[Answered] The Indo-Pacific economic bloc offers India a new opportunity, however, there is a need to re-examine our traditional positions to make the most of economic integration under the IPEF. Elucidate.<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-186859","post","type-post","status-publish","format-standard","hentry","category-public","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704619553},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/186859","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=186859"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/186859\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=186859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=186859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=186859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}