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Key Takeaways

The US launches the Indo-Pacific Economic Framework with 13 founding countries. Australia's Labor Party won the national election, ending a decade of conservative rule. Chinese authorities lockdown a key commercial area of the Shanghai’s financial hub finding new COVID-19 cases. Analysis: Indo-Pacific Economic Framework: A Trade Deal or Political Challenge to China? Analysis: Ukraine War Update: Ukraine Rejects Ceasefire, Russia pounds Donbas and Mykolaiv regions, Zelensky Addresses Davos.

Condition Updates

A rundown of important global risk developments in markets, in business, and region by region.

Analysis: Indo-Pacific Economic Framework: A Trade Deal or Political Challenge to China?

US President Joe Biden is launching the Indo-Pacific Economic Framework (IPEF) today on his first tour of Asia as president. The US has spent the past year consulting with Indo-Pacific allies to shape the framework, building anticipation for its launch and implementation. However, mixed messaging has led to confusion over US intentions and the specific goals of this unusual trade proposal. While US trade stakeholders see the benefits of establishing rules of the road, regional partners are asking ‘where’s the beef?’

Analysis: Ukraine War Update: Ukraine Rejects Ceasefire, Russia pounds Donbas and Mykolaiv regions, Zelensky Addresses Davos

The Ukrainian government has ruled out a ceasefire with Moscow, saying it would play into the Kremlin's hands. Italian Foreign Minister Luigi Di Maio, on Friday, submitted a peace plan for Ukraine to UN Secretary-General Guterres. According to Di Maio, the plan calls for local cease-fires to evacuate civilians along humanitarian corridors and create the conditions for a general cease-fire leading "to a long-lasting peace."

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