China Creates Good Will in Asia – Philippines
According to Tyler Marshal, Globe Correspondent, China’s trade with southeast Asia grew by 20% last year to more than $130 billion.
Double digit growth is expected for many years to come.
Spain and Japan was helping the Philippines to build a rail line to connect the northern suburbs of Manila with neighboring Bulacan Province home of several industrial zones. But, Spain and Japan both backed out.
China stepped in to finance the $1.2 billion project.
This kind of developmental project has become a priority for China…building more than good will.
In June China sent a delegation 200 strong to the PI for a Philippines-China Economic Partnership Forum.
At the forum, a list of projects valued at around $32 billion was reviewed.
The two countries have since closed a $1+ billion nickel mining deal. President Arroyo says that mineral rich Philippines has a reserve of copper, gold and nickel worth more than $1 trillion! That’s a "T."
China is interested and China has become a friend to the PI.
More deals and good will is sure to come.
What do you think?
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