Philippine President Rody Duterte draws praises from various sectors for joining China's "Belt and Road" Summit or initiative which is considered as a good move as it would place the country on the path of trade expansion and infrastructure investments envisioned by Beijing's ambitious buildup plan.
During the year 2014, Beijing bypassed the Philippines in its "One Belt, One Road" (OBOR) plan in 2014 after the administration of then Pres. Benigno Aquino III sued China over the West Philippine Sea (South China Sea) dispute.
Under the present Duterte administration, he pursued a less confrontational stance, and relations between the Philippines and China normalized. Pres. Duterte is one of the 29 world leaders invited by Beijing on Sunday to a two-day summit for the Belt and Road plan, which could see China investing as much as $900 billion across the continent.
According to political analyst Ramon Casiple, executive director of the Institute for Political and Electoral Reform, Pres. Duterte made a good choice because the Philippines would be left behind if it passed up the opportunity for increased Chinese investments.
Casiple noted that OBOR is an ambitious undertaking connecting China directly to European markets. The Philippines will benefit from having a direct route for exports to and imports from China.
The Duterte administration can also draw funds from the Asian Infrastructure Investment Bank, a Beijing-led multilateral lending institution to financed the ambitious goal of achieving the Golden Age of Infrastructure in the Philippines.
Source: The Manila Times
During the year 2014, Beijing bypassed the Philippines in its "One Belt, One Road" (OBOR) plan in 2014 after the administration of then Pres. Benigno Aquino III sued China over the West Philippine Sea (South China Sea) dispute.
Under the present Duterte administration, he pursued a less confrontational stance, and relations between the Philippines and China normalized. Pres. Duterte is one of the 29 world leaders invited by Beijing on Sunday to a two-day summit for the Belt and Road plan, which could see China investing as much as $900 billion across the continent.
According to political analyst Ramon Casiple, executive director of the Institute for Political and Electoral Reform, Pres. Duterte made a good choice because the Philippines would be left behind if it passed up the opportunity for increased Chinese investments.
Casiple noted that OBOR is an ambitious undertaking connecting China directly to European markets. The Philippines will benefit from having a direct route for exports to and imports from China.
The Duterte administration can also draw funds from the Asian Infrastructure Investment Bank, a Beijing-led multilateral lending institution to financed the ambitious goal of achieving the Golden Age of Infrastructure in the Philippines.
Source: The Manila Times
Pres. Duterte Draws Praise for Joining China's "Belt and Road" Summit
Reviewed by Phil Newsome
on
May 16, 2017
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Reviewed by Phil Newsome
on
May 16, 2017
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