The Indo‐Pacific Economic Framework for Prosperity: Geopolitical and Economic Strategies in a Declining Liberal International Order?

ABSTRACT Launched in May 2022 by the United States, the Indo‐Pacific Economic Framework for Prosperity (IPEF) has quickly become one of the most ambitious attempts to reshape cooperation in a strategically vital region. Officially, the initiative promises deeper trade ties, resilient supply chains, clean energy transitions, and digital innovation. Yet, its significance goes beyond economic goals: the IPEF reflects a broader geopolitical contest over leadership and the future of the international order. For the United States, it is not only a response to economic fragmentation but also a strategic instrument to reaffirm influence in a moment of crisis for the Liberal International Order. For emerging powers such as India, the framework opens space to expand regional authority, gain leverage in global forums, and advance claims to leadership of the Global South. For other developing countries, it raises both opportunities to increase visibility in global governance and concerns about transparency and inclusiveness. This article argues that the IPEF encapsulates the tension between preserving existing power structures and enabling their reconfiguration, making it a revealing test case for the future of multilateralism and reform in global governance.