President Ferdinand “Bongbong” Marcos Jr., during his visit to Washington, D.C., affirmed that Philippine engagement in the recent Trilateral Leaders Summit with the United States and Japan will not impact Chinese investments in the Philippines. Despite the strategic discussions aimed at bolstering ties and security in the Indo-Pacific region, Marcos emphasized that China’s investment decisions would remain independent of these developments.
The summit, which also involved US President Joe Biden and Japanese Prime Minister Fumio Kishida, focused on shared visions for the region and explored ways to enhance trilateral cooperation, including increased naval training and support for the Philippines’ defense modernization.
Amidst these discussions, the Philippine Ambassador to the United States, Jose Manuel Romualdez, highlighted the potential influx of approximately $100 billion from the United States and Japan over the next five years, showcasing significant economic engagement from these nations.
The summit concluded with a Joint Vision Statement, expressing serious concerns about China’s assertive actions in the South China Sea, referencing the 2016 Arbitral Ruling which supports Philippine sovereignty over parts of its exclusive economic zone. Despite these tensions, Marcos reiterated his view that these diplomatic and security maneuvers should not deter Chinese investments.
This statement comes at a crucial time when naval exercises in the region, involving the Philippines, the United States, Japan, and Australia, signal a united front, although Beijing remains critical, asserting that such military activities complicate regional peace.
Marcos’ assurance aims to maintain a delicate balance between strengthening military and economic ties with traditional allies and not alienating China, a major trading partner and investor in the Philippines.