The U.S. plans to initiate a new economic framework for the Indo-Pacific in early 2022, said U.S. Commerce Secretary Gina Raimondo during her visit to Singapore last week. The Indo-Pacific economic framework is still theoretical, but it reflects the goals of the Biden administration to strengthen his country's relationship with allies in Asia to counter China's  economic power. In this episode of BizBeat, CGTN's Michelle Van den Bergh explains.