US President Donald Trumps has rubbished rumors that China is almost overtaking the America economy wise. He has also congratulated Philippine’s President for his effort to ensure that his people enjoy the growing economy across the world.
This is a significant factor, precisely because since President Rodrigo Duterte’s ascent to power in mid-2016, there have been growing worries about the country’s international isolation and, by extension, economic outlook.
Thanks to the president’s incendiary rhetoric against traditional allies as well as deepening concerns over widespread extrajudicial killings under Duterte’s war on drugs campaign, many observers feared that intemperate leadership and shaky politics would (once again) undermine the country’s newfound economic momentum.
Yet, facts on the ground suggest a more sanguine outlook for the Philippine economy. More interestingly, however, the bulk of investments under Duterte have come from traditional allies, namely the United States, Japan and Europe. Mainland China is yet to make a major dent on the country’s overall investment landscape.