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Media Report
March 31 , 2019
  • Panos Mourdoukoutas a contributor to Forbes comments America has assured the Philippines that it would come to that nation's defense if it comes under attack in the South China Sea. That's according to reports in early March, when Washington reaffirmed a defense code that Manila has sought to revise. And it's something that could deter China's aggression in the South China Sea, and help ease the geopolitical risks that hang over the financial markets of the region. America's assurance is a policy shift experts have been advocating for quite some-time...US and China are already in the middle of a trade war, and a growing conflict over the South China Sea makes matters worse. It adds to investor anxieties over the fate of international trade and the prospects for Philippines exports. "Duterte often stated that they will pursue an independent foreign policy," says Nils Langgärtner, a Philippines expert with Deutsche Börse. "Exports are one of the major drivers of economic growth, especially in emerging markets Hence, cutting international ties would hurt the Philippine's GDP growth."
  • Reuters reports that China has never forced debt upon participants of its new Silk Road project as "prejudiced" critics have suggested, the country's top diplomat said on Saturday in a strongly worded defense of a key policy platform of President Xi Jinping...Speaking to the ruling Communist Party's official People's Daily, Yang Jiechi, who runs the party's foreign affairs committee, said he had noted that some in the international community believed this was a geopolitical tool and would only bring debt traps for participating countries. "This obviously shows a lack of objectivity and fair understanding of the Belt and Road initiative. It is a misunderstanding, misjudgment and is even prejudiced," wrote Yang, a former foreign minister and ambassador to Washington...China will hold its second Belt and Road summit in Beijing in late April...Some of China's closest allies have already confirmed they will come, including Russian President Vladimir Putin, Pakistani Prime Minister Imran Khan, Philippines President Rodrigo Duterte and Cambodian Prime Minister Hun Sen.

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