Duterte’s ‘reset’ paves way for Chinese investments: think-tank

MANILA – President Rodrigo Duterte’s decision to seek closer ties with Beijing paves the way for greater economic cooperation between the Philippines and China, according to the think-tank of China’s Ministry of Foreign Affairs.

China attaches “great importance” to the Philippines’ role in Beijing’s “Belt-and-Road” initiative that will establish trade links that span Africa, Europe and Asia, said China Institute for International Studies vice president and senior fellow Ruan Zongze.

“China and Philippines relations has been reset” and there are “lots of potential projects and cooperation,” he told ANC’s Market Edge with Cathy Yang.

“If you want to have good economic prospects, you need to have better external relationship,” he said.

Duterte sought closer ties with Beijing, while refusing to flaunt an international tribunal’s decision that China had no historic rights to reefs and outcrops that are being claimed by the Philippines.

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