The Indo-Pacific region, a confluence of the Indian and Pacific Oceans, has become a battleground for international trade and politics.
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The Indian Ocean and the Pacific Ocean are connected. The maritime area of both is known as the Indo-Pacific region. This is the area where international competition is on the rise and global maneuvers are being played here. This is the reason why the competition is reaching its peak, given China's growing influence in the region. This is the sea route that India and Japan exchange with each other. It is on these maritime routes that China currently dominates. Just as China is an important country using the region for trade, it is also a matter of concern for the protection of other countries' maritime borders. China's ubiquitous policies could certainly jeopardize other countries' vital trade and energy interests.
This Indo-Pacific region includes parts of the Indian Ocean and the Pacific Ocean region. Starting from the continent of Africa, this vast maritime area extends to the South China Sea, Taiwan, Japan, Indonesia and Australia, including East and South Asian countries. The region is home to some of the world's most populous nations, as well as some of the world's most important superpowers.
With a wealth of natural resources, the Asian region has become a commercially important manufacturing region for the world today. Considering maritime borders, the region plays an important role in connecting Asia with Europe and the United States. Therefore, the Indo-Pacific region has gained strategic and economic importance for the other superpowers of the world as well as for the countries of the United States and the European Union.
Everyone is worried that China's growing influence in the maritime region will end Eurasian and US dominance in the region to this day. That is why India and Japan have started cooperating more and more to support China in this field.
As China emerges as a superpower, the focus of global politics is shifting. This is a phenomenon that disturbs all other superpowers. Even the oldest scholars of world politics are confused by this change. Considering this situation, three things are being discussed about the foreign policy of the countries in the Indo-Pacific region: a) One view is that these countries should adopt a defense policy against China's policy of dominating the world economically and commercially. B) The second view is that China and all the surrounding Asian countries, as well as others, mainly the United States and European countries, should increase harmony and cooperation. C) The third view is that the Indo-Pacific countries should maintain an independent and equitable existence without being influenced by both China and the United States.
Among those advocating such a defense strategy are those who believe that closer cooperation with the United States is needed for further development of the Indo-Pacific region. According to him, the Indo-Pacific region should now be a free zone for trade expansion from the role of globalization. Of course, as Chinese President Xi Jinping says, all international avenues for trade must be open. Of course, many experts say that through trade growth, the superpowers have a great opportunity to establish their dominance in world politics. Therefore, they expect greater cooperation between Australia, Japan, India and the United States (QUAD). Proponents of her case have been working to make the actual transcript of this statement available online.
On the contrary, the role of some is to achieve closer cooperation with China, but at the same time, it would be beneficial to have equally close cooperation with such northeastern countries in the Pacific and with European powers. They have no problem getting China involved in the SAARC. Of course, this will help make the dream of Bangladesh-China-India-Myanmar Economic Corridor - BCIM-EC come true.
In the Indo-Pacific region, India, Japan, Australia as well as other smaller countries, there are many difficulties in building large exchanges and close cooperation. The main reason for this is that there is a huge disparity in the economies of these countries. There is also a big difference in economic development and the economic regulation system in that country is also very different. On the one hand, a country like Japan is keen to revive the Trans-Pacific Partnership (TPP), while on the other hand, India is trying to show its economic strength to China through mediums like ASEAN and the Comprehensive Regional Economic Partnership (RCEP).
Considering global politics, China's dominance of economic cooperation in the Indo-Pacific region is not very conducive to the interests of developed countries and developing countries. But there is also an opinion that China's dominance should be strategically balanced. In which trade relations between Western countries and Indo-Pacific countries should also be aligned with mega regional trade diplomacy. And in terms of economic growth, India may still be a stronger option than China, one of the developing countries, to play a key role in this area. Similarly, India could play an important role in the Comprehensive Regional Economic Partnership (RCEP) and in mega regional trade deals like the TPP of developed countries.
The economic and political equations here are not so logical and simple because of the contradictions in the Indo-Pacific region. That is why it is so difficult to bring countries in the region together.
Mega regional trade groups established by developed countries are currently dominating the economic sector. Therefore, the fact that developing countries do not get the right prices and opportunities in trade is also a big problem for all countries in the region.
But it's not all that limited. Mega regional trade deals made by developed countries need to be reformed keeping in view the interests of countries in the Indo-Pacific region. The decision on whether to take these countries along can be based on the following conditions:
1) In many respects, there is scope for development in the interactions of developing countries with neighboring countries and the world. If developing countries get technical, regulatory and economic cooperation, it will be able to balance the high standards of the global market.
2) Political oversight is also needed to strengthen the Regional Trade Agreement (RTA) in more than one country.
3) In addition to trade issues, areas related to environmental conservation, health care and workers' rights should also be regulated.
4) With the implementation of all these important issues, if there is to be sufficient foreign direct investment (FDI) for the public sector from developed countries to developing countries, there should be consistency. Similarly, the tax system in the international arena needs to be reformed.
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