Philippines’ ‘China-free’ manufacturing strategy is a high-risk bet

AI Summary

The Philippines’ effort to build a manufacturing sector less dependent on China is described as a high-risk economic strategy. The debate is unfolding amid renewed tensions with China over a medical evacuation near the disputed Second Thomas Shoal, a flashpoint in the South China Sea and a major trade route.

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...