Opinion by David Ignatius: Biden seeks a new opening in a rattled Asia
Biden’s trip to Asia will offer a powerful tableau of the United States’ greatest global strength, which is its network of partnerships with strong democracies. Biden is scheduled to visit with South Korea’s new president and then with the leaders of India, Japan and Australia, who are America’s partners in the so-called Quad.
China’s recent economic difficulties form an unexpected backdrop for the trip. Reversals in the property, technology and financial sectors, plus new covid-19 lockdowns, led International Monetary Fund economists to lower their growth forecast for China this year to 4.4 percent. Some analysts think growth will actually be much slower, and that at current rates, the Chinese economy might not surpass that of the United States by the end of this decade, as many had expected — or perhaps not ever.
Biden plans to announce a new Indo-Pacific Economic Framework, which will seek to establish common digital standards, supply-chain cooperation and other shared norms. It’s not a “trade agreement” like the Trans-Pacific Partnership that Democrats abandoned in 2016, ceding the field to China, which quickly created its own multilateral group.
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