In May, US President Joe Biden visited South Korea and Japan with the aim of reaffirming America's commitment to the Asia-Pacific region after the uncertainties and doubts generated by Donald Trump's presidency. In Tokyo, Mr Biden launched the Indo-Pacific Economic Framework for Prosperity (Ipef) and participated in a summit of the Quad, an informal security grouping that also includes Japan, Australia and India.
The Quad aims to promote and secure a free, open, prosperous and inclusive Indo-Pacific region, and is widely regarded as a means of checking China's regional ambitions. But Ipef's benefits are less obvious to many Asian countries.
Besides the United States, Ipef's initial signatories are Japan, South Korea, India, Australia, New Zealand and seven member states of the Association of Southeast Asian Nations (Asean). The new grouping supposedly intends to set common rules regarding labour, digital-economy and environmental standards, among others.
