Global Outlook

 United States President Joe Biden on Monday said that 12 Asian countries will join a new US-led Asia-Pacific trade initiative. The alliance is deemed to counter a more assertive China in the region. Biden unveiled the Indo-Pacific Economic Framework (IPEF) in Japan after meeting Prime Minister Fumio Kishida. At a press conference, Biden said, "The United States, Japan, and 11 other nations have launched the Indo-Pacific Economic Framework for Prosperity.”  Indo-Pacific Economic Framework members Jake Sullivan, the US national security adviser, said allies like Japan, Australia, New Zealand and South Korea would join the agreement. Other south-east Asian nations: India, Singapore, Malaysia, Indonesia, Vietnam, the Philippines, Thailand, and Brunei will also join the Indo-Pacific Economic Framework. These nations represent 40 percent of the global economy. Importance of the trade agreement Reportedly, the framework will help countries together to negotiate the various aspects o...

 In the list of countries expressing their discontent for the upcoming Winter Olympics in Beijing, Japan has been added as the new nation to announce a boycott for the event. There were lingering confusions about Japan attending the event or not and on Friday, the nation made it clear.  On December 24, the Japanese government announced that it will not be sending an official delegation to next year's Winter Olympics in Beijing .  This is after the United States had already announced that it will not be sending its officials for the game, which only led to deepening tensions with China.  Along with the United States , it was also expected that other nations who can be counted as its allies will be leaving the event. This was an extremely delicate issue for Japan as not only is it a close partner to the US but it also has strong economic ties with China .  The games are to start in February in 2022, Chief Cabinet Secretary Hirokazu Matsuno clarified during a news ...