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The US-EU honeymoon is over

Ian Bremmer's Quick Take:

Hi everybody. Happy Monday. Ian Bremmer here with your Quick Take. Plenty going on between the United States and its allies. You have seen the fallout from the US announcement of this new defense pact with the Australians and the United Kingdom called AUKUS. That's great, always like USMCA, we take the acronyms, and we try to find a way to make it comprehensible. And of course, the Chinese are not enormously happy about this, because it is a military plan to put more American material in their backyard. And the day after the Chinese announced formerly that they wanted to apply to the CPTPP, which is the major trade deal that the Americans initially were the architect of and then under Obama said, "No, we can't get it done." And then Trump pulled out. That's unfortunate and long-standing and not surprising. And China won't be able to get in, in all likelihood, because it's a heavy lift, even though Vietnam did make it, but state capitalism and TPP doesn't really work very well together.

But the more interesting and salient point for the headlines is that the French government was absolutely incensed. So, what's going on here? Why are the allies having such difficulty?

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Europe's new Asia strategy looks to strengthen trade and political ties

Carl Bildt, former Prime Minister and Foreign Minister of Sweden, shares his perspective from Europe:

Is Europe waking up to the reality of Asia?

I think that's the case. If you listen to the State of the Union speech by Ursula von der Leyen and the commission president yesterday, the new Indo-Pacific strategy of the European Union was a key part of her proposals. To develop new trade links, to intensify political cooperation, to look more at green and digital projects, to look at infrastructure projects together. And Korea is a good example of what can be achieved. We have a 10-year free trade agreement that has doubled trade between the European Union and Korea. And today, European Union is the single largest foreign direct investor in Korea. Much has been done. But if you listen to the voices in Brussels, yes, Asia is a key part of our future and policy steps are being taken.

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