China's Once Impossible Friendship With The Philippines Hits Another New High


Ralph Jennings




December 12, 2017


It looked like harmless progress on the surface, but Manila’s deal this month with Taipei symbolized a broader victory. On December 7, the two Asian governments renewed a bilateral investment agreement. The deal fits with Taiwan’s policy of steering investment toward the booming markets of Southeast Asia and the Philippine goal of bringing in more foreign capital. It’s designed to protect capital from one side parked on the other and forms a “foundation” to “continue strengthening cooperation,” Taiwan’s foreign ministry said in a statement in Taipei.