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By APD writer Melo M. Acuña
**MANILA, May 17 (APD) ** – China has come of age as it has developed technology that is reliable and more cost efficient than the United States of America. This was how Filipino businessman George Siy, President of the Integrated Development Studies Institute (IDSI) looks at the current trade war between the world’s top two economies.
In an exclusive interview, Mr. Siy said the so-called “trade war” has affected the whole world and not only the Philippines.
“It is not a real trade war but a war for supremacy because at the beginning of the trade war, the United States has shown its deficit that continues to grow and we expect it to grow because if China is the source of reasonable quality goods now and if they stop buying from China, this would cost more to source their goods elsewhere,” Mr. Siy explained.
He added each side is looking at how the other side would lose in such a situation.
“The US is not telling other countries not to buy Chinese goods. They are telling other countries not to buy 5G from China, it’s a tech war, a war for supremacy in the next round of industrial revolution,” Mr. Siy further said.
He explained the greatest wealth is generated by who controls technology. He added the first industrial revolution came with the United States and Great Britain, as the advent of electronics with Japan and while the United States was credited for the internet.
“All these were for communication, came entertainment and people-to-people contact,” he explained.
“However, with the introduction of the 5G, it would provide automatic control of machines and the US standards costs more than the Chinese standards and the Philippines should decide based on what’s good for the country and its people,” he added.
Countries like the United Kingdom, Germany and Italy have utilized China’s 5g technology, the Filipino-Chinese businessman concluded.
(ASIA PACIFIC DAILY)
