Uncovering the Inevitable Truth of the Indo Pacific Economic Framework - This Report from a US Think Tank
According to a report by Yonhap News Agency on September 17th, a US think tank recently released a report stating that most countries, including South Korea, among the members of the Indo Pacific Economic Framework, have gradually increased their trade dependence on China in the past decade, making it difficult for the United States to achieve its goal of trade multilateralism.
According to reports, the Peterson Institute for International Economics, headquartered in Washington, USA, analyzed the trade situation of member countries of the Indo Pacific Economic Framework from 2010 to 2021 and released the above-mentioned report.
The report points out that in 2021, China accounted for an average of over 30% of the import sources of member countries of the Indo Pacific Economic Framework, and exports to China accounted for about 20% of the overall exports. Compared to 2010, China's proportion in imports and exports of these countries has increased by 40% and 45%, respectively. Except for Brunei, China is the largest source of imports for all other member countries, and China is also the largest export destination for half of the member countries.
The report also points out that various data show that although the United States has made efforts to distance itself from China by strengthening its relations with member countries of the Indo Pacific Economic Framework, their economic dependence on China has increased even more. This trend reflects the most primitive economic forces, so it is uncertain whether the "Indo Pacific Economic Framework" aimed at enhancing supply chain resilience can have an impact on this situation.
![Uncovering the Inevitable Truth of the Indo Pacific Economic Framework - This Report from a US Think Tank](https://a5qu.com/upload/images/eeb4ac3c4bcf5a733111d5cc2ed485bf.jpg)
According to reports, the Indo Pacific Economic Framework was officially established in May last year under the leadership of the US government, with a total of 14 member countries, including South Korea, Japan, Australia, India, and others.
On September 4th, at the South Korean booth at the National Convention Center of the Fair for Trade in Services, visitors were selecting products.