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In 2020, China was the Philippines' top source of imports and its third-
largest export market. Bilateral trade between the two countries reached
$29.73 billion in 2020, despite the pandemic's impact on global trade.
This means that the exchange of goods and services between the two
countries was not affected as much as it would because of the global
pandemic. Significant investments from and in China and the investments
done by Philippines by numerous sizable Filipino commercial organizations
dominate the Philippine economy. These investments had been done for the
two-way trade connections of the two nations,
NOMIC FACTO
CO RS
E The two countries have also had
longstanding territorial disputes in
the South China Sea, which have
strained their diplomatic ties.
The Philippines claims part of the area as its territory under UNCLOS, or
United Nations Convention on the Law of the Sea, an agreement parts of
which have been ratified by the countries involved in the Spratly islands
dispute. However, China (PRC), Taiwan (ROC), and Vietnam are the only
ones to have made claims based on historical sovereignty of the islands.
NOMIC FACTO
CO RS
E
It must be noted that UNCLOS is an international
agreement that establishes a legal framework for all
maritime activities and must be followed by all nations
involved. And with that, relations between People's
Republic of China and the Philippines have suffered due
to the worsening South China Sea dispute.
NOMIC FACTO
CO RS
E The COVID-19 pandemic has
brought additional tensions to the
economic relationship.
A joint action plan for 2023 to 2025 on agricultural and fisheries cooperation;
An MoU on cooperation on the BRI;
An MoU on digital and information and communications technology (ICT) cooperation;
A protocol of phytosanitary requirements for the export of fresh durians from the Philippines to China;
An MoU on tourism;
An MoU on electronic commerce cooperation;
An MOU on the Development Cooperation Plan for the years 2023 to 2025; and
An agreement on economic and technical cooperation.
In addition to the above agreements, the two sides have reportedly agreed
upon several infrastructure investment and financing agreements, which
serve to fill a funding shortfall. These include sealing the handover certificate
of two - China-funded bridge projects in Manila (the Binondo-Intramuros
bridge and the Estrella-Pantaleon bridge), a framework agreement for the
RMB portion of the loan financing for three priority projects of the
Philippines’ Department of Public Works, and Highways (DPWH), and four
loan agreements for the mixed-credit financing (USD and RMB) of three
priority bridge projects.
How does the Philippines-China
connection fare in the
social aspect ?
Philippine-China relations would remain stable unless there’s a
significant provocation or confrontation. Among the countries of
the Association of Southeast Asian Nations (ASEAN), both noted
that only the Philippines' relations with China are at the level of
cooperation and not a formal (strategic) partnership.
China and the Philippines established formal diplomatic relations in
1975. Relations between the two countries have been “predominantly
warm and cordial” over the years, as expressed by the Office of the Press
Secretary. Relations between the Philippines and Chinese were slow but
long and tiresome Filipinos viewed the Spaniards regarding of being
against Chinese since it generally open to racial and cultural relation.
China and the Philippines established formal diplomatic relations in
1975. Relations between the two countries have been “predominantly
warm and cordial” over the years, as expressed by the Office of the Press
Secretary. Relations between the Philippines and Chinese were slow but
long and tiresome Filipinos viewed the Spaniards regarding of being
against Chinese since it generally open to racial and cultural relation.
China's friendly interactions with the Philippines date back to over a
millennium ago. China brings to the Philippines not colonization or war, but
cooperation and friendship. After taking office, President Duterte made the
strategic decision to improve relations with China, and rainbows appeared
in China-Philippines relations after the rainstorms.Until now that
President Marcos was the president relationship between China and
Philippines was “predominantly warm and cordial”.
What is the impact of Chinese culture on contemporary
Philippine society in comparison with the impact of
Chinese culture on 19th century Philippines?
In the contemporary world, we have the attitude to ask "ate, wala
na po bang tawad" or "may discount pa po ba para dito?"
HTTPS://PHILNEWS.PH/2019/09/26/COJUANGCO-FAMILY-HOW-WEALTHY/
One such wealthy family was the Cojuangcos, from which president Corazon
Aquino and numerous other influential politicians and industrialists were from.