Below is a paragraph from an academic paper. Polish the writing to meet the academic style, improve the spelling, grammar, clarity, concision and overall readability. When necessary, rewrite the whole sentence. Furthermore list all modification and explain the reasons to do so in markdown table:In May 2022, the United States proposed the Indo-Pacific Economic Framework (IPEF) as a means of establishing a U.S.-led supply chain system that excludes China, and South Korea was among the initial member countries to join the framework. While the IPEF is not a traditional free trade agreement and may have limited appeal for participating nations, it does address critical issues related to improving supply chain security and the export control of cutting-edge products. These provisions could potentially hinder high-tech cooperation and supply chain collaboration between China and South Korea. Write exactly 4 paragraphs each separated with two new lines answering this question. The first paragraph must start with "action".
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