On May 23, U.S. President Joe Biden officially launched the Indo-Pacific Economic Framework for Prosperity (IPEF) in Tokyo. Conceived and led by the United States, the IPEF has 13 founding members, including Australia, Brunei, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam. “The future of 21^st century economy is going to largely be written in the Indo-Pacific…We are writing the new rules for 21^st economy”, said Mr Biden at the launch event…