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India has Joins US-Led New Indo-Pacific Economic Bloc, Aimed at Countering which country?
A)
Pakistan
B)
Turkey
C)
China
D)
Afghanistan

Correct Answer : Option (C) - China


India joined the United States and 11 other countries in launching a new loosely-linked economic grouping in Asia, primarily aimed to counter China’s economic dominance, but without drawing up a formal free trade agreement.
 
Termed the Indo-Pacific Economic Framework for Prosperity (IPEF), the initiative is part of the United States’ plan to bring a more economic heft to its regional policy. The US had been missing in action on this front ever since it withdrew from the Trans-Pacific Partnership in 2017. In contrast, China and 14 other countries are part of the Regional Comprehensive Economic Partnership (RCEP) trade agreement that came into force in January this year.
 
Besides the US, the other countries that have signed up as “initial partners” of IPEF are Australia, Brunei Darussalam, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam. Except for the US and India, all others are also members of RCEP..

Source : The Wire

Published On : May 24, 2022
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