China-Philippine economic ties damaged by US interference

Economictieshavegreaterpotentialwithoutinterference : analysts

TradeandeconomiccooperationbetweenChinaandthePhilippineshavegreatpotentialandbothcountriesshouldovercomepoliticalobstaclesandinterferencefromoutsidenationsfortheirpeople'sbestinterest,analystssaid.

TheUNarbitrationcourtinTheHagueissettoannounceitsdecisionontheSouthChinaSeacaseonTuesday.

"ThePhilippinesshouldavoidbeingusedbytheUSforitspivottoAsiastrategyasithurtsthePhilippines'interests.ThearbitrationwasamistakemadebytheformerregimeandDutertehasachancetofixitandbringbettereconomicrelationsforthepeopleofbothChinaandthePhilippines,"ShenShishun,anexpertonAsia-PacificstudiesattheChinaInstituteofInternationalStudies,toldtheGlobalTimes.

AccordingtodatafromChina'sforeignministry,bilateraltradevolumebetweenChinaandthePhilippinesreached$44.42billionin2014,anincreaseof16.75percentfromthesameperiodthepreviousyear.

ShensaidthatimportsfromthePhilippinesconsistedofagriculturalandfisheryproducts.DuetotheUSpivottoAsiastrategy,formerPhilippinePresidentBenignoAquinoIIIchangedthecountry'spolicytowardChina,andAquino'sprovocativepolicyharmedeconomictiesbetweenthetwosides.

ImportsfromPhilippineslidto$18.23billionin2013,adecreaseof7.2percentfrom2012,affectingmanyagricultureproducts,suchasbananas.

RodKapunan,acolumnistfromPhilippinenewspaperTheStandard,toldtheGlobalTimeshebelievesPresidentRodrigoDutertewillhavefriendlierpoliciestowardChinathantheAquinoregime,andthathehopessomeoldprojectswouldrestartandstartnewonesaswell.

"TherailwayprojectonceofferedbyChinacouldhavebeenagoodopportunity,"hesaid,addingthatinfrastructure,suchastelecommunications,wouldalsopresentopportunitiesforbilateralcooperation.

InNovember2015,Japansigneda$2billionloanagreementwiththePhilippinestopartiallyfinanceandreactivatethefrozenNorth-SouthCommuterRailProject(NSCRP)whichwasoriginallyofferedbyChina,accordingtoaManilaTimesreport.

ChinaneedstobuildbetterrelationshipswithlocalNGOsandimproveprojecttransparencyinfuturecooperation,suggestedXuLiping,anexpertonSoutheastAsianaffairsattheChineseAcademyofSocialSciences.

ThePhilippineshasahugedemandforinfrastructure,andcomparedtotheUSandJapan,Chinahasmanyadvantages,suchasfunds,technologyandexperienceinthisarea,Xusaid.

InaMayarticle,IncitingtoWarwithChina,Kapunanwrote, "WeoptedtoinitiateourversionoftheColdWar,whicheffectivelydeniedustoshareintheeconomicprosperitythatChinacouldofferthrougheconomicdevelopmentassistance.Infact,somemembersoftheASEANhavealreadytakentheapproachofbuildingstrongertieswithChina,consistentwiththeviewthatneighborsshouldcultivatefriendshipratherthanheighteninstabilityandinsecurity.ThiscouldonlyopenthedoorfortheUStodividethecountriesofSoutheastAsia."

Growth****areas

MediareportspresentPhilippinerealestateasaninvestmenthavenwheretheChinesearebeginningtodevelopaninterestin.

PatrickSteinmann,directorofsalesatCenturyPropertiesinManila,toldtheChineseBusinessNetworklastyearthatthereisarisingtrendofChinesebuyers.HesaidthatthereturnoninvestmentsinthePhilippinerealestatemarketcanreachashighas8percent.

LiKaisheng,anassociateresearchfellowattheShanghaiAcademyofSocialSciences,toldtheGlobalTimesthatitisachallengeforbothChinaandthePhilippinestotalkabouthoweconomicandtraderelationscandevelopafterthearbitrationresultcomesout.Hesaidthetensionshavealreadyhurteconomicrelations,withnonewprojectssincethelastfewweresuspended,includingtherailway.

Thereismoreinteractiononthegrass-rootslevelaswell.AccordingtodatafromthePhilippineDepartmentofTourisminJune,duringthefirstfivemonthsof2016, 285,000ChinesetouristsvisitedthePhilippines,anincreaseof81percentcomparedtolastyear'sfigure.InMayalone,therewere47,000tourists,a48.5percentincreasefromApril.

ShensaidmanycountriesaretryingtoattractChinesetourists,andgeographically,thePhilippineshastheadvantage,andifbothsidesreachagreementondirectcruiselinksbetweenChina'sHainanProvinceandthePhilippines,therewouldbeahugepotentialforthetourismindustry.

(GLOBAL TIMES)