After a year of domestic economic volatility and international turmoil, China is focused on economic growth this year. If the Philippines can avoid military entanglements, it too stands to benefit.
DURING his recent state visit to China, President Ferdinand Marcos Jr. said he seeks to shift the two countries' ties to "higher gear." Reportedly, the visit yielded 14 bilateral agreements and $22.8 billion worth of investment pledges, including $13.8 billion for renewable energy, $7.3 billion for electric vehicles and mineral processing, and $1.7 billion for agriculture.
The timing was vital. Recently, international observers have talked about slowing economies in the US, the Eurozone, Japan and China. In reality, these major Western economies, including Japan, are in recessionary conditions, whereas China's reopening is driving growth also in Asia and worldwide.
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