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CC-Transcript

  • 00:00[CC may contain inaccuracies] Are geopolitics scene overshadowing a little bit. His economic engagement plans. Given that we are also expecting that economic framework to be announced. Obviously geopolitics are at the fore right now. And with the meeting between Biden and new President Yoon in Seoul over the weekend Russia featured prominently as did of course the issues in North Korea which is battling an outbreak of Covid but also been rattling the sabers a bit with Biden in the region. The two had a press conference and essentially President Yoon called this an inflection point in world history with democracies and autocracies competing for supremacy. North Korea obviously at the fore as well. And Biden actually didn't dismiss the opportunity or the possibility of at some point meeting with Kim Jong un but only if Kim was prepared to come to the table and meet in good faith. Highly highly unlikely in the next two days between now and tomorrow with that kind of meeting happen especially since Biden now is in Japan where he will meet with the prime minister Kishi. Today we're hearing from the Yomiuri Daily that Kishi will inform President Biden of Japan's intention to increase defense spending. Of course that's a highly controversial subject in Japan which has a pacifist constitution. Shinzo Abe of course obviously had tried to alter that that Constitution Kishi to looking at the threats regionally and globally and thinking they need to pay more of their way. Japan's percentage of defense spending to GDP is about 1 percent right now compared to the goal of about 2 percent for most NATO nations. So there is room there. And essentially the backdrop of all this I haven't even mentioned China. China is watching very intently as Biden is in the region with two of its biggest allies ahead of that quad meeting tomorrow which will feature of course Japan the United States India where Mr. Modi will be there as well as Paul just said. Mr Albanese going from the domestic frying pan to the international frying pan. Obviously with that quad meeting tomorrow China I have not even mentioned China. China is that the backdrop of all these discussions. And essentially you mentioned it Sherry Wang Yi the foreign minister decrying the Biden administration's Indo-Pacific strategy and that IP f the Indo-Pacific economic framework which is taking a backseat right now that is essentially Biden's economic blueprint for the Asia-Pacific which has gotten muted response even in the United States. Even 50 senators in the US are calling for Taiwan's invitation which will clearly clearly upset Beijing now. Wang Yi says that policy is doomed to fail.
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Biden Arrives in Japan After Visiting South Korea

May 22nd, 2022, 10:42 PM GMT+0000

President Joe Biden landed in Japan on Sunday after his trip to South Korea, where he met with the country's newly-elected leader Yoon Suk Yeol. Biden is set to meet Japanese Prime Minister Fumio Kishida in Tokyo, and is also scheduled to attend a Quad summit with Indian Prime Minister Narendra Modi and Anthony Albanese, whose Labor Party is set to take power in Australia for the first time since 2013. Stephen Engle reports on "Bloomberg Daybreak: Australia." (Source: Bloomberg)


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