MULTI-Award-winning writer and geopolitical analyst Wilson Lee Flores believes the benefits of bilateral friendship between the Marcos administration and China outweigh its shortcomings.
Speaking at a webinar last Thursday, Flores explained that there will be “infrastructure cooperation” as the Philippines’ Build, Build, Build and China’s Belt and Road Initiative focus on building modern infrastructure.
“This is one big opportunity for the Philippines because everyone here knows that China is the world power in infrastructure and they also produced the most steel,” Flores explained.
According to a report from the British Broadcasting Corporation, China is investing twice as much as the US in infrastructure projects around the world because of its Belt and Road Initiative, and Flores believes it would be a waste if we weren’t able to take advantage of this opportunity. .
Flores also talked about the importance of the world’s largest free trade agreement, the Regional Comprehensive Economic Partnership (RCEP), and that it could also be another opportunity for the country.
“This free trade agreement will open the markets of China, South Korea, Japan, 10 ASEAN countries, New Zealand and Australia. I know there are some politicians and groups who are hesitant because they say we are not ready. But let’s learn from the example of China when it first joined the World Trade Organization. There used to be a lot of complaints, but now there are more and more,” said Flores.
He also talked about the opportunities that remain for the tourism sector, how the economies of the Philippines and China complement each other, redefining the conditions for energy exploration to benefit the Philippines, and how the country can become the ultimate mediator and peacemaker between East and West. . .
Former Commerce Minister Ramon Lopez echoed Flores’ statements and also spoke about some of the problems in the partnership.
“Indeed, at the moment there are some problems in Philippine-Chinese relations. For example, the territorial dispute in the western part of the Philippine Sea, the failure to accept the decision of the arbitration of the United Nations Convention on the Law of the Sea. The former administration and China both agreed to let this settle now and consider a solution in the future,” Lopez said.
“But despite these challenges, China has still invested a lot in the Philippines, which has generated growth in all sectors, and I think we have even more opportunities if we keep it that way and can find a win-win solution for both parties.” he said. added.