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Significance
In a last-minute move, seven South-east Asian countries -- Singapore, Thailand, Vietnam, Malaysia, Indonesia, the Philippines and Brunei -- were added to the initiative, joining the United States, Japan, Australia, New Zealand, South Korea and India (Fiji also joined subsequently). Together these members represent 40% of the world’s GDP.
Impacts
Singapore will be the greatest regional beneficiary of increased digital trade with advanced economies.
Supply chain coordination will offer early warnings of disruptions and assistance for crisis response.
The clean energy and infrastructure pillar will likely house US commitments to aid South-east Asia under the Paris Agreement.
Keywords:
South-east Asia,
AP,
NA,
United States,
Australia,
Brunei,
China,
Fiji,
India,
Indonesia,
Japan,
Malaysia,
New Zealand,
Philippines,
Singapore,
South Korea,
Thailand,
Vietnam,
economy,
industry,
international relations,
foreign trade,
technology,
IT software & services
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2022
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