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Primer on the Indo-Pacific Economic Framework for Prosperity
In May 2022, the United States (US) and 13 other countries launched the Indo-Pacific Economic Framework for Prosperity (IPEF). Against the backdrop of intensifying great power competition for hegemony in Asia, IPEF serves as the economic component of the US Indo-Pacific strategy and is currently poised to be larger than the earlier Regional Comprehensive Economic Partnership (RCEP), encompassing 2.5 billion people and 40% of the global gross domestic product (GDP).
This primer unpacks the provisions of IPEF and their implications on people's rights and sovereignty. It also contextualises IPEF in the history of neoliberal free trade agreements and policies promoted by the US. It provides pointers on ways forward for social movements and civil society organisations. #