Philippines’ ‘China-free’ manufacturing strategy is a high-risk bet
China and the Philippines recently traded accusations over the medical evacuation of a Philippine serviceman from a grounded naval vessel in the hotly disputed Second Thomas Shoal in the South China Sea. The incident has sparked renewed worries about potential armed skirmishes in a global artery of trade.
But Philippine President Ferdinand Marcos Jnr was also quick to emphasise the economic dimensions of a major conflict. After a decade of rapid economic growth, the Philippines is facing…
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