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Rice sufficiency a pipe dream?
An Indian agricultural economist advised the government to secure investments in rice farmland abroad as it believes the Philippines’ goal of rice self-sufficiency through domestic production is impossible. Dr. Samarendu Mohanty, former principal scientist at the International Rice Research Institute in the Philippines, said the country has smaller arable land to grow enough rice to satisfy consumer demand for the commodity amid its expanding population. “In other countries, they have arable land. The Philippines doesn’t have it because the country is an island nation,” he said during the recent 6th International Rice Congress in Pasay City. “You can take all the measures to expand productivity here, like having certified seeds and fertilizer, but I don’t think you’ll be self-sufficient with the population you have,” Mohanty added. The agricultural economist said the solution is to invest in farmland abroad under a backward linkage method. This distributes inputs from the farm sector to the non-farm sector, which includes agrochemicals, processing, and trading. “You need to find a country where this can be done legally and where there is land and water. Many African countries — Cambodia, Vietnam, and Myanmar — have bigger land the Philippines can invest in and get back the supply to the country,” Mohanty explained. “There’s an Indian company producing rice in Africa and exporting it somewhere else. The Philippines cannot invest in land in India because of land restrictions,” he added. ‘Out of luck’ According to the World Economic Forum, India is the world’s second-top rice producer after China. However, India and other countries recently announced they would limit their rice exports as consumer demand and commodity prices have risen in their local markets. “If you have to address it through imports and the exporting countries have food restrictions, then you’re out of luck. But if you have backward linkages, you can be assured that your rice was produced in Vietnam or another country. Nobody can take that away because that’s your investment,” Mohanty said. He said the government must create policies and conduct discussions with its foreign counterpart and business community abroad to negotiate investments in external rice production. “The government has to facilitate that. The private sector will enter if there’s assurance from the government that they can bring back rice to the country,” Mohanty explained. He said India will resume rice exportations in May next year, with the country’s total production of at least 135 million tons. A portion amounting to 25 million tons is usually left as surplus. The Indian embassy in Manila said on 18 October that India allocated 295,000 metric tons of rice to the Philippines, the biggest share of its non-basmati white rice export, following its bilateral talks with the Marcos administration in August. Department of Agriculture Undersecretary Mercedita Sombilla said the two governments and the private sector will still discuss the rice imports’ price terms. She, however, was optimistic that the rice imports would help stabilize the prices of the commodity in the domestic market. Mohanty said India will likely export more rice in the future. “There’s a green revolution happening in the eastern part now. I expect India to have more than 30 million tons of surplus,” he said. The post Rice sufficiency a pipe dream? appeared first on Daily Tribune......»»
External headwinds
The price shocks besetting Filipinos, now the main preoccupation of President Ferdinand “Bongbong” Marcos Jr., is a global phenomenon rippling down to the nation. Greatly affected are rice prices that had surged with the government hoping to tame them through price caps of P41 per kilo of regular-milled and P45 for well-milled grains. In its latest review of the domestic fiscal situation, an International Monetary Fund team said that while the economy has emerged from the pandemic strongly, it now faces “a confluence of global shocks.” Growth moderated from 7.6 percent in 2022 to 4.3 percent in the second quarter of 2023, which IMF attributed “to a weak global economy and tightened policy settings.” The IMF, thus, recognized that the weak state of the global economy has had a strong impact on the country and that the response through the tightening of the money supply by the Bangko Sentral ng Pilipinas resulted in a growth slowdown. An acceleration in public spending and an improvement in exports is expected to lift the gross domestic product by year’s end to 5.3 percent in 2023 and 6 percent in 2024. The risks associated with the slowdown in the economy all originated beyond the Philippines. The IMF review said the main downside risks to the outlook include the persistently high global and domestic inflation that could necessitate a further tightening of monetary policy. This abrupt global slowdown may further weaken goods and services exports, intensifying geo-political tensions and depreciation pressures stemming from capital outflows under volatile market conditions. Recent surveys showed that rising inflation has been the major culprit for the weakening of the public ratings of President Marcos and other high officials. Consider the resolute actions taken to arrest the price upsurge, particularly the calculated measures to place a ceiling on retail costs while the National Food Authority intervenes to keep farmgate prices high. Another budding concern should be the weakening in foreign direct investments, or FDI, which needs to be reflective of the high confidence level of investors, according to Trade Secretary Fred Pascual. Pascual cited the capital being plowed back and the rising cost of business projects listed with the Board of Investments and other investment promotion agencies, which would mean optimism in long-term prospects. He said FDI numbers reflect investors’ decisions well before the funds were released that go into the BSP records. The past practices of market manipulators with political agendas were to hit the equities and foreign exchange markets while influencing the flow of investments. Keeping these economic indicators weak makes it easy for opportunists to paint the perception of a looming economic crisis where there is none. For instance, during the shortened term of President Joseph Estrada, the peso depreciation that caused a dip in the stock market and a supposed capital flight were thoroughly exploited to show mismanagement of government that resulted in his eventual downfall. The recent association of high prices and the plunge in the survey ratings of Marcos and other officials raises suspicions of another black operation, which had been heard since the new leadership assumed office. It is not farfetched that the playbook of EDSA 1 and 2 is underway to undermine the Marcos administration. Another element that should be considered is the growing insecurity of China amid the strengthened relations between the Philippines and the United States. Considering its economic clout, China can manipulate situations that may pave the way for political conditions to favor its interests. The accurate picture is that most of the problems confronting Marcos are outside his control since they emanate from beyond the border. The post External headwinds appeared first on Daily Tribune......»»
Sovereign interest
The Philippines is earning plaudits for the Marcos administration’s tough balancing act of asserting its territorial claim on the West Philippine Sea while preventing the tense situation with China from escalating. President Ferdinand “Bongbong” Marcos Jr. has made it his policy to improve relations with the United States that were strained under the last administration, while continuing to engage with China but recognizing the need to respect each country’s position. Sydney-based think tank Lowy Institute cited recent moves by the country that showed it will not back down from China’s assertiveness, but neither will it take actions to provoke its anger. “While Beijing attempts to tighten its grip on the region with a new ten-dash line, a multi-billion dollar military modernization drive is underway in the Philippines,” a Lowy report said. It said many analysts believe that Manila’s pronouncements about confrontation are “gestures” rather than real attempts to challenge China. An open conflict would have tremendous geopolitical and economic costs for the Philippines. “Beijing remains Manila’s top trade partner and import supplier,” Lowy said. It cited instances in which the Philippines stepped back from adding fuel to the fire. “The Philippines’ decision to skip last month’s joint military exercise with the United States, Australia and Japan in the South China Sea is seen as a way of avoiding conflict with China,” it noted. It said that Defense Secretary Gilbert Teodoro had refused to cooperate with Taiwan on security issues, which has been viewed as the country’s continued adherence to the One-China policy. “Despite his harsh remarks on Beijing, some Chinese international relations experts are optimistic about the appointment of Teodoro Locsin as Manila’s Special Envoy to China as he has not only favored cooperation with Beijing but has been critical of the West,” it added. Lowy said Locsin’s appointment is read as Manila’s attempt to stabilize ties with Beijing, adding that “others are disappointed with the choice.” This recognition from independent observers indicates the Marcos administration is skillfully threading a thin line to show it is insisting on its sovereign stake while pushing back against Beijing. Manila’s resupply mission to the BRP Sierra Madre landing craft, for instance, which is considered the eye of the storm in the current friction, has been a pure play by Philippine forces. Manila’s supply and coast guard ships are constantly in a game of tag with huge Chinese Coast Guard vessels which try to frustrate the provision of supplies to the platoon of Marines guarding the outpost. Last month, China’s coast guard water-cannoned a Navy supply boat. Beijing’s Ministry of Foreign Affairs justified this as “safeguarding our sovereignty in accordance with law” and criticized Manila for “ignoring China’s goodwill and sincerity.” China then demanded the Philippines remove the beached Sierra Madre. Lowy reported that “Manila has further aggravated Beijing by describing the danger of conflict in the Taiwan Strait as a ‘major security concern,’ in its newly published National Security Policy.” It quoted various state mouthpieces in China as having criticized former Philippine President Rodrigo Duterte’s condemnation of the ten-dash line and his claim that Manila “wouldn’t resist a fight” for its maritime rights. China has always referred to the Duterte period as when an ideal engagement had existed with the Philippines. Duterte initially exerted efforts to win the trust of the Chinese but had always indicated to President Xi Jinping that he would have to raise at some point the decision of the Permanent Court of Arbitration that favored the Philippines. China continues to follow its playbook that the Philippines is being manipulated by the US to take bold actions in the West Philippine Sea conflict. Beijing glosses over the fact that when the late President Noynoy Aquino bungled the handling of the 2012 faceoff with China, it was the US that abandoned the Philippines as it did nothing to stop the reclamation of features in the disputed area. Similarly, China has advocated dialogue but, thus far, nothing has come of it, even after the Philippines gave way to its wishes over the past six and more years. The post Sovereign interest appeared first on Daily Tribune......»»
Bersamin: ‘Phl can live without China’
Executive Secretary Justice Lucas Bersamin on Thursday said that the Philippines can live without China and that it should avoid overdependence on its Asian neighbor despite the two countries' strong economic ties. In a recent interview with journalist Ka Tunying, he asked Bersamin whether the Philippines is dependent on China. He responded that the question has many aspects and that he is not in a position to speak about it because he is too close to President Ferdinand Marcos Jr. However, Bersamin did say that the Philippines is dealing with the issue of its relationship with China diplomatically. He also said that it is still possible for the Philippines to go with China but that the country should not be too dependent on its Asian neighbor. "We are dealing with (several) issues diplomatically. It is still possible for us to go with China, but about the economic viability of our relations or the economic dimensions if we were to go against China. You know, we can't say that we are dependent on China," Bersamin said. "China might be our trading partner or supplier, or it gives us some products that we may need, but we should not be too dependent on China. I don't think China will even want us to be dependent because China knows that we have a multilateral approach," Bersamin added. Bersamin's statement comes when the Philippines is facing increasing pressure from China in the South China Sea. China has been militarizing islands and reefs in the disputed waters despite a 2016 ruling by the Permanent Court of Arbitration that invalidated its claims. When asked if he thinks China needs the Philippines more than the Philippines needs China, Bersamin said that the Philippines has exclusive rights to the fisheries and natural resources in that area. "Perhaps China is acting this way because they know that in the eyes of other countries, we are the ones who should be recognized as having the exclusive right to own these fisheries and natural resources in that area," Bersamin said. "That's probably why China is acting like that. But beyond that, we do not want to have a conflict with China. We do not want to provoke a conflict with China because we can coexist with China." Ka Tunying, meanwhile, said that more countries are siding with the Philippines in the West Philippine Sea dispute because the current administration is being more transparent about what China is doing. "The biggest news today regarding China's aggression is that more countries are siding with us because this administration is becoming transparent about what China is doing in the WPS (West Philippine Sea). Did you notice that during the previous administration, they intentionally did not report what China was doing because we didn't want to upset China back then?" Ka Tunying asked Bersamin. Bersamin said that he was not paying much attention to the issue during the previous administration. Still, he said that he wants to avoid comparing the two administrations' foreign policy directions. "I don't want to compare," he said. "We leave that to the Presidents to make those decisions, the directions that they take," he added. Despite the dispute, the Philippines and China have maintained close economic ties. Latest data from the Philippine Statistics Authority showed that China has become the Philippines' primary trade partner, representing a significant portion of the nation's exports and serving as the leading provider of imported products. As of May, exports reached a total of $6.44 billion, with China carrying out 16.6 percent of total exports during the month. Import costs, meanwhile continued to surpass export receipts, hitting $10.84 billion during the month. China was also the country's biggest source of imported goods, supplying 24 percent of the country's total imports. The post Bersamin: ‘Phl can live without China’ appeared first on Daily Tribune......»»
US auto talks at ‘critical phase’ as political pressure grows
High-wire talks between striking US workers and automotive giants are in a "critical phase," Jeep-maker Stellantis said Saturday, as politicians staked out positions on a labor issue that could have national impact. Stellantis, together with fellow "Big Three" automakers General Motors and Ford, was hit Friday by a limited strike -- but one the United Auto Workers (UAW) warns could spread. Both sides issued cautious statements Saturday. "Our bargaining team continues to work days, nights and weekends" in pursuit of a "reasonable" solution, said the statement from Stellantis, which was formed by the merger of Fiat Chrysler and the French PSA Group. But the automaker warned that if talks took a bad turn, the outcome "will take us backward and endanger the long-term competitiveness of our Company, negatively impacting our workers and our communities." There was no immediate formal response from the union, but a UAW source told AFP, "we had reasonably productive conversations with Ford today." Only about 12,700 of the UAW's 150,000 members are currently on strike. But with workers at all of the Big Three coordinating strike action for the first time -- including a demand for pay increases of 40 percent over a four-year contract -- the automakers could face a far more disruptive stoppage. Underscoring the political stakes of the moment, President Joe Biden quickly lent his support to the strikers Friday, saying he understood their "frustration." Political lines And on Saturday, former president Barack Obama lent his backing, with a reference to the 2008-09 financial crisis. "When the big three automakers were struggling to stay afloat, my administration and the American people stepped in to support them," he said on social media. "So did the auto workers in the UAW who sacrificed pay and benefits to help get the companies back on their feet. "Now that our carmakers are enjoying robust profits, it’s time to do right by those same workers." But former president Donald Trump, who hopes to face Biden in next year's US presidential election, lashed out at the UAW as over-reaching. "The auto workers will not have any jobs... because all of these cars are going to be made in China -- the electric cars, automatically, are going to be made in China," he said in an interview to be aired Sunday on NBC's "Meet the Press." In its statement, Stellantis said the UAW was misrepresenting its proposals. It said its current offer would give employees a 21 percent pay raise over the term of the contract, with 10 percent coming upon ratification. General Motors upped its offer Thursday, lifting a proposed wage increase from 18 to 20 percent, according to the UAW. But hourly workers say the auto giants must produce significantly better packages to make up for what they call meager wages and benefit cuts after the 2008 financial crisis, when both GM and Chrysler, now part of Stellantis, underwent bankruptcy reorganizations. They also want pay boosts for lower-paid temporary workers. The post US auto talks at ‘critical phase’ as political pressure grows appeared first on Daily Tribune......»»
Hoarders cry vs rice cap
Members of the rice cartel are starting to feel uneasy over steps being taken to stabilize the market after they were caught flatfooted by the price cap. President Ferdinand “Bongbong” Marcos Jr. recently signed Executive Order 39, which mandated the price of regular milled rice at P41 per kilo while well-milled rice was fixed at P45 per kilo. The strategy is to maintain the low price while the market receives a steady stream of rice from imports and the coming harvest. In effect, all the hoarded rice would be flushed out at the government-mandated price levels or lower. After the Rice Tariffication Law took effect, a well-organized lobby was launched to either rescind or amend the measure and hand back the importation monopoly to the National Food Administration. With the purchase of rice centralized in the NFA, the cartel, which had the agency’s officials on payola, was able to control the market effectively. Prices were let loose by creating distortions such as an artificial shortage, which exploited India’s announcement that it was restricting rice exports. India’s move was of little consequence since the country imports 90 percent of the staple grain from Vietnam and Thailand. Even if import prices are pushed higher, the influx of local rice, with the harvest season coming, will drive down costs. The lobby included a former Department of Agriculture official who blamed the high prices on the Rice Tariffication Law and insisted that the old system, where the NFA had sole authority to import, was better. Under EO 39, the NFA’s mandate was restricted to purchasing from local farmers. The official claimed the RTL handed the rice industry to the cartel on a silver platter. NFA’s monopoly had benefited only the cartel and the officials in its pocket. The cartel used to kill in tandem with the NFA when prices on the global market were high, as the percentages were higher. As a result of the price cap, Speaker Martin Romualdez said massive cancellations of orders from local rice traders resulted in the world market quotations trending downward. According to United States-based Market Insider, the price of rice in the world market decreased by 21 percent, from $384 per metric ton last July to $332.4 per MT this month. “It is proven that EO 39 set commendable results not only in our country but in the world as well,” Romualdez said in a statement. Based on Department of Agriculture data, the country’s rice stock is sufficient to last for months. The data showed 10.15 million metric tons of buffer stock for the rest of the year, with a 2.53-MMT surplus from the previous harvest and 7.2 MMT as the expected yield from local production. Only 410,000 MT comes from imports. The stock would be more than enough to cover the current demand of 7.76 MMT during this harvest round and will yield an ending stock of 2.39 MM that will last up to 64 days, according to DA’s report. Romualdez said massive cancellations by rice traders and importers in the Philippines resulted in the world market’s deluge of available rice stocks. The Philippines was recently reported by the United States Department of Agriculture to have overtaken China as the biggest rice importer worldwide. “It is obvious that the upsurge in prices was artificial because our inspections showed that rice stocks were being held in warehouses,” Romualdez said. He recently led an inspection of the most extensive rice warehouses in Luzon that resulted in the discovery of huge stocks suspected to have been kept from the market. The price cap will hold as local harvests start flooding the market. By then, the hoarders will be forced to sell at a loss, thus increasing availability. Then another law will take over — that of supply and demand — that will further lower the price of rice. The post Hoarders cry vs rice cap appeared first on Daily Tribune......»»
BBM: Our calm, kind, gentle President
The most challenging thing is to write an essay about the country’s President who is celebrating his birthday. I should probably go back to the years when he was the “crush ng bayan.” From London, he would come home for vacation and would be met at the airport by his doting parents, with his mother kissing him on the forehead. He was very fashionable, from his haircut to his clothes and, well, he was the epitome of “cuteness” as cute could be. He did not sport long hippie hair but had bangs and his lips were well-pronounced. His mom took pride in his looks. “Kamukha ko (he looks like me),” she would say. Bongbong grew into the Oxford student who would come home and occasionally appear on television. I recall in 1973, he and his friends danced the latest craze on live television. He was, by then, oozing with appeal, his shy and boyish smile adding to the enigma that comes with being the president’s son. Many years later, I saw him when he and his sister Irene graced the opening of a project in Isabela. I am trying to remember if it was for natural gas or the largest dam in Asia. But he was there on the stage set up at the Cauayan airport, looking fresh and friendly, although he was smiling at everyone and no one in particular. I stood alone, away from the other welcomers, and somehow got him to look at me. I looked at him like I was telling him I know you or we know each other, and he stared back, smiling too, looking like he was wondering if he might have seen me before somewhere. It was one of my tricks. [caption id="attachment_183135" align="aligncenter" width="525"] The President has a long way to go, but that’s no reason for him to relax and wait for things to happen. | Photograph courtesy of BBM FB[/caption] Much would be said of the young gentleman, of his not being who he was supposed to be because he had died somewhere. Also, that he had killed someone who had called his father a dictator. Bongbong Marcos, for better or worse, was the fodder for both favorable and malicious talk. He became governor of Ilocos Norte in the mid-1980s when he took over from his aunt, Elizabeth Keon. At the same time, he wore the military uniform of the officer rank bestowed on him by his father, the President. Moving fast forward, Bongbong Marcos became a congressman and a senator, ran for vice president, and lost. Sometime after he caught Covid-19. After he had lost the vice-presidential contest and was protesting its result, he appeared on Daily Tribune’s online show, Spotlight. I remember only a little, not because he or his remarks were forgettable, but I blame my old age for not remembering. But I recall a pleasant interview, for he was relaxed and calm, and while he seemed occupied by his electoral protest, he was at the same time accepting of it. It was the Marcoses’ turn to be cheated, people said. The next presidential election had him and Leni Robredo, along with others, slugging it out. And while everyone had taken to microphones to condemn and attack him and his father, martial law and the dictatorship, he remained silent. He chose not to participate in the debates, leaving it to his supporters and fans to fight back for him. One UP professor who may have been unbiased took a liking to him, like an older woman in love for the first time, gushing over the assets of a fine, young, sexy gentleman. But that was not unexpected. Bongbong Marcos, after all, was the “crush ng bayan” from the time he was a teenager. Today, he is the President of the Philippines. I was talking with one youthful matron who possesses both beauty and wisdom and whose family was best known to be in the opposition against the Marcoses. She said that when President Rodrigo Duterte began his term, she gave him a chance to prove himself because he had been elected. As her gauge for the success of a presidency had much to do with how the stock market fared, she was disappointed because stocks dived very low to the depths. She gave RRD a failing mark. When BBM became President, she also gave him a “chance.” She told me, “I have yet to see what will happen next because he has just finished his first year, and it is too early to know how well or evil he has done. The people elected him, he is now the President, so let’s give him a chance.” The woman’s statement, I believe, more or less sums up the general feeling of the Filipino people. Here is one President perceived to be good and kind, and one who is not to be feared compared to his father or even his daring and feisty elder sister. One would hear, “Matatakot kayo pag si Imee ang presidente (You would be afraid if Imee were president),” which is people’s way of saying what they feel and think about the Marcos siblings. So, we have a kind President who has had to deal with all kinds of issues and problems: Typhoons, the pandemic, and now the rice shortage. I have always been a BBM fan (after all, he was “crush ng bayan” in our youth), and even if he had not become a statesman in the tradition of many of our top legislators, one thinks of him as a pleasant guy who plays it cool and is lovable. Now comes a wife who is perceived to be running the show. All because, like it or not, she has the educational credentials; she proved herself in the Big Apple; and as her husband himself would tell one and all, she has excellent organizational abilities. She ran the campaign, many would assume, although she much preferred to keep to the sidelines. Like it or not, Liza Marcos, the First Lady, is a potent mover in this administration. Her many worthy projects in the creative industry, health care, education, and environment, along with her brand of diplomatic maneuvering using Filipiniana fashion as a vehicle for international friendship, bode well for this administration. We got two leaders for one vote, and we are better off as a nation. To the President’s credit, he recognizes the role his wife plays in his administration, and that speaks of a man secure in his position as the head of his family. Regarding cronyism, BBM has his friends in the business sector, top men and women, titans and tycoons, czars and magnates, who accompany him on his travels abroad. One of them described their roles as similar to those of club guest relations officers — entertaining guests and clients. We are told that they talk with their counterparts on the international scene, wherever the presidential itinerary takes them. Hence, the public does not see the usual kind of cronies who are there for what they could take. These friends want to help because if this administration succeeds and the economy improves, the Filipino people, including the business sector, will live better lives. The greatest challenge to BBM, everyone perceives, is the conflict with China over the West Philippine Sea. In this regard, BBM has proved to be wise, circumspect and decisive. He has the backing of the international community and his people. We hope he will pass the test, because if he passes it we are all together the victors. BBM deserves our prayers and hopes for the best of his administration. If he succeeds, and we hope he does, we will rise as a people. The President has a long way to go, but that’s no reason for him to relax and wait for things to happen. There are some things that people feel he should handle with steel gloves, akin to his father’s style, and that is up for him to decide. A kind and gentle President may be all we need to make this nation great again, and there’s Bongbong Marcos to take on the role and fulfill the promise of a happy, progressive, and peaceful country and people. BBM is not only the best-looking President, but the kindest and, of late, the most eloquent, as he is proving himself to be. He is also the coolest. The post BBM: Our calm, kind, gentle President appeared first on Daily Tribune......»»
Salt maker request: Redeem our dying industry, amend ‘Asin’Law
A gourmet salt manufacturer in Albuquerque, Bohol is asking for the country’s lawmakers to amend Republic Act 8172, otherwise known as the Act for Salt Iodization Nationwide or ASIN Law, as the statute continues to kill their industry that has been operating in Albuquerque for more than a century now. In an interview, Nestor Manungas, proprietor of ASINAN ni Tan Inong, the maker of the unique Asin Tibuok, said RA 8172 has been hindering them to manufacture the condiment because the law mandates that salt produced in the country should contain iodine. “We cannot do that in our product because our way of producing Asin Tibuok is completely different from the normal way of making salt. We use direct heat, so minerals, like iodine, will definitely wear out or destroy the product,” he said. Signed into law by late-President Fidel V. Ramos in 1995, RA 8172 seeks to eliminate iodine deficiency disorders by mandating all salt producers and manufacturers to iodize their products. Ease of Doing Business Also, Manungas hit the Food and Drug Administration for being so sluggish in releasing approvals on their product, despite the presence of the Ease of Doing Business Law. “The US FDA is even better, we got it quickly. But here, we got them (FDA permit) more than two years ago. Although the Department of Trade and Industry helped us in the process, but it’s still too long. Other manufacturers have already given up on operating here because of bureaucratic hardships in acquiring business operation permits,” according to Manungas. Manungas’ Asin Tibuok, under the company Tan Inong Manufacturing Corporation, is currently making waves in terms of exports in various parts of the world, particularly in the United States, Europe, Australia, Japan and China. “This year we have a huge demand in Europe. Foreigners appreciate our salt as they find it totally different from Himalayan salt because it has a smoky flavor that they like in the taste of their food. But hopefully, we can sell on a large scale here in the country. I hope the business founded by our ancestors will not be dissolved,” he said. Stringent process Making Asin Tibuok, said to be on the brink of extinction, is not easy as it is very labor-intensive. Traditionally, Asin Tibuok making begins by soaking coconut husks for three months in saltwater coming from pools by the mangrove at the back of the manufacturing house of Manungas in Albuquerque. These husks will go through the burning process in a highly controlled manner. Subsequently, the ashes collected from the burnt are manually poured on large filters and more seawater will be poured through the ashes to make a very highly concentrated brine. After this, specially made clay pots are placed over a wood fire, and the concentrated brine is transferred continuously for eight hours into the boiling pots. Manungas and his assistants usually keep a close eye on evaporation so that the pots will not crack, resulting in a smoky sphere of salt that can weigh as much as one kilo. These pots of rocky salt are priced at P800. Business group support Since last year, the Philippine Chamber of Agriculture and Food Inc. has been urging lawmakers to amend Republic Act 8172 to revive the country’s salt production industry. Its president, Danilo Fausto said the country continues to import 93 percent of its salt requirement, even though the Philippines has the second longest shoreline in the world. “We have 36,000 kilometers of shoreline. It’s really embarrassing that we are importing salt from Australia and China, and some also in Thailand and New Zealand,” Fausto said. Fausto added the country in 2021 imported 646,000 metric tons of salt, which is being used as fertilizer for coconut trees. On the other hand, the Philippine Chamber of Commerce and Industry is also pushing for amendments to the Asin Law to help local manufacturers in the country, aside from other monumental reforms that would help micro, small, and medium enterprises to recoup from the ill effects of the pandemic and economic headwinds. But during his second State of the Nation Address, the proposed amendment for the ASIN Law was not included on the priority bills President Ferdinand Marcos Jr. requested for lawmakers of the House of Representatives to focus on. The post Salt maker request: Redeem our dying industry, amend ‘Asin’Law appeared first on Daily Tribune......»»
NSC: China using ‘psychological warfare’ against Phl
China is utilizing all means to divide the stand of Filipinos over the issues concerning the West Philippine Sea/South China Sea by insisting on the supposed promise of the country to remove BRP Sierra Madre in Ayungin Shoal, an official of the National Security Council said Thursday. In a radio interview, Malaya believes that China’s manipulation of information is “becoming dominant” over the Philippines’ stand on its sovereign rights to WPS. “Kasi syempre mas makakaganda sa aknila kung tayo bilang bansa hindi tayo nagkakasundo so gumagawa sila ng mga paraan through their own political operators sa ating bansa na ma-undermine yung ating posisyon (Of course, it would be better for them if we are divided as a country so they are making ways through their own political operators here in our country to undermine our position),” Malaya said. Hence, Malaya said the Filipino people should "unite, understand and support" the position of the Philippines. Meanwhile, Malaya dared former Palace spokesperson Rigoberto Tiglao to provide evidence to his recent claim that the administration of former President Joseph Estrada promised to remove the BRP Sierra Madre from Ayungin Shoal in 1999. “Kung meron po sya talaga syang pruweba ilabas na niya..kasi para tayong nahuhulog sa narrative ng China. Sila ang nagsabi nyan na meron silang kasunduan diumano sa ating bansa so kailangang ilabas nila (If he has evidence, then he must show it. Because we are like falling into the narrative of China that repeatedly saying that our country entered to that supposed agreement so they need to show it),” Malaya stressed. Tiglao said the Estrada administration had actually committed to removing two Philippine vessels within the WPS. And from that commitment, Tiglao said only the BRP Benguet, which was stationed at Scarborough Shoal, was removed. Malaya, in response, said Tiglao should present legal documents that would back his claims. “Napapasok tayo sa trap nila ano na imbes na tayo ay magkaisa bilang isang bansa nagbabangayan tayo kasi diumano may mga traydorso ang sa tingin namin ito yung parte ng tinatawag na psychological warfare or cognitive warfare ng Tsina para hindi tayo magkaisa sa posisyon natin (We are falling into a trap instead of standing as one country, we are now fighting and calling each other a traitor. We believe that this is a kind of psychological warfare or cognitive warfare so we can't have one position)," Malaya said. China has repeatedly expressed a dim view of Manila’s granting military bases access to Washington under the Philippines-United States bilateral Enhanced Defense Cooperation Agreement or EDCA, at the height of maritime tensions on the WPS/SCS and China-Taiwan ongoing dispute. Defense Secretary Gilberto Teodoro earlier lambasted China’s theory and insisted “it is not ideal.” “Ito ay propaganda. Okay EDCA sites, WPS. So lumalabas na talaga ang intensyon ng China na wala itong kinalaman sa Taiwan, nasa West Philippine Sea talaga. Yun ba ang sinasabi nila ngayon na ang EDCA site ay mag attract ng galaw ng China sa WPS? Ito ay propaganda lang po ng China ito,” Teodoro told reporters last Tuesday in a chance interview. Teodoro likewise believes that China is exploiting the supposed connection of the EDCA sites and the Taiwan situation as justification for occupying and setting up seven permanent militaries around the Spratly Islands in the WPS. Moreover, Malaya warned the Filipinos that China's narrative on the Ayungin Shoal is getting powerful. “Nagbabangayan tayo dito sa ating bansa mas lumalakas yung kanilang posisyon at tayo ay pumapasok dun sa naratibo ng Tsina (We are fighting each other here in our country, their position is getting stronger while we are entering the narrative of China),” he said. Malaya also reechoed President Ferdinand Marcos Jr.’s recent statement on the matter saying: “There is no such agreement, and if ever there is one it has already been rescinded.” “That should have put an end to the issue,” Malaya stressed. The post NSC: China using ‘psychological warfare’ against Phl appeared first on Daily Tribune......»»
U.S. must step up too
American analysts have been exploring the possible ways the West Philippine Sea conflict will play out primarily with the so-called “gray zone” maneuvers by China in the disputed waters in which non-military activities are employed for coercion. The United States Institute of Peace, or USIP, a federal body tasked with promoting conflict resolution and prevention worldwide, is reviewing ways that Washington can play a role in de-escalating the tension in the region. The review was sparked by an act of aggression last week when a Chinese Coast Guard vessel deployed a water cannon to redirect an unarmed Philippine Navy supply boat. China blamed the incident on the Philippine government’s continued defiance of an earlier understanding to ban the delivery of construction materials to the beached BRP Sierra Madre navy vessel at Ayungin Shoal. Tensions have been on the rise since last year on China’s perception that Manila was moving closer to Washington, prompting a more aggressive assertion of its claim over most of the West Philippine Sea. “Given that Washington and Manila have a mutual defense treaty, there is credible concern that an incident like this could trigger a wider US-China conflict,” according to the USIP. Under a new Philippine administration, the formerly conciliatory approach the country had taken in its dispute with China has shifted. Instead, Brian Harding, USIP senior expert for Southeast Asia and Pacific Islands, said President Ferdinand Marcos Jr. has highlighted China’s efforts to swarm and intimidate fishing and coast guard vessels to take the bold move of deepening defense ties with the United States, bringing China-Philippines ties to a new low. Ayungin Shoal, the USIP expert said, has long been a likely candidate for the first showdown between the Philippines and China since Beijing took control of Scarborough Shoal in 2012. Former Supreme Court Senior Associate Justice Antonio Carpio also identified the shoal, in a speech the other day, as one of five possible flashpoints that may lead to a deeper maritime conflict. In 1999, the Philippines intentionally beached a World War II naval vessel on a submerged reef, located within the Philippines’ exclusive economic zone, and has since maintained a small contingent of Marines on board in extremely austere conditions. As a practical matter, in recent years China has turned a blind eye to the Philippines replenishing supplies for the Marines but has blocked the delivery of materials that could be used to repair the ship. USIP’s Andrew Scobell, a China expert, said the recent aggressive actions of a large China Coast Guard vessel on a tiny Filipino Navy supply boat was merely the latest episode in a decades-long campaign of intimidation and coercion by Beijing. Based on its insisted-on nine-dash line boundaries, Beijing claims the right to restrict access to ships from other countries to the South China Sea. “Many of (China’s) white-hulled ships are far larger, much better equipped, and more intimidating than the gray hull naval vessels possessed by most Southeast Asian states,” USIP said. China has persisted in its well-orchestrated campaign of low-intensity conflict, what is widely called “gray zone” actions, to forcefully advance its claims and aggressively push back against rivals. Carla Freeman, a senior USIP expert on China, said that beyond the effort to persuade and deter China, the US should engage in diplomacy to encourage allies and partners in the region to make clear to Beijing their own concerns about the risks to peace posed by confrontation. Regional allies have already issued statements criticizing China’s behavior, with Tokyo using unusually strong language to condemn China’s conduct, the USIP said. Like the Philippines’ position, the USIP said that Washington’s efforts in support of a binding code of conduct, or CoC, would be key to preventing conflict. The USIP, nonetheless, sees as a major obstacle toward progress in the United States itself since it is limited in its diplomatic capabilities after it failed to ratify the United Nations Convention on the Law of the Sea. Taking the high road in the simmering conflict, thus, would need both the US and China to review their positions of leadership to keep the stability in the region. The post U.S. must step up too appeared first on Daily Tribune......»»
Taiwan VP vows to ‘resist annexation’
Taiwanese Vice President William Lai vowed “to resist annexation” in a speech given during a weekend trip to the United States that China has opposed. Lai is the frontrunner in Taiwan’s presidential elections next year and is making transit stops in the United States en route to and from Paraguay, where he will attend the inauguration of president-elect Santiago Pena. His trip has already roused anger from Beijing, which claims democratic Taiwan as part of China, and which particularly dislikes Lai, accusing him of espousing separatist views. At a New York luncheon on Sunday, Lai reiterated he would continue to uphold the core tenets of the administration of President Tsai Ing-wen — also hated by Beijing for refusing to accept that Taiwan is a part of China. “I will continue... our commitment to resist annexation or encroachment upon our sovereignty,” he said in a speech carried by Taiwanese channel TTV News. China had said earlier on Sunday that it was closely monitoring “troublemaker” Lai’s visits, and vowed to take “resolute and forceful measures to safeguard national sovereignty.” In a video released by Taiwan’s presidential office, Lai also reiterated that they “must uphold the value of democracy and freedom.” “At this critical moment, we promise again here and now that no matter how great the threat of authoritarianism is to Taiwan, we will never be afraid or back down,” Lai told an audience that included representatives of the American Institute in Taiwan — the de facto US embassy for the island. with AFP The post Taiwan VP vows to ‘resist annexation’ appeared first on Daily Tribune......»»
Meeting between FPRRD and PBBM an occasion to come together—Bong Go
Senator Christopher “Bong” Go said the meeting between former president Rodrigo Duterte and incumbent President Ferdinand “Bongbong” Marcos, Jr., marked a rare occasion where two leaders from different administrations come together. In an interview after his visit to Tuy, Batangas on Thursday, August 3, Go stressed the importance of the said meeting on the country's foreign relations and domestic political landscape. It can be recalled that Duterte just came back from a recent personal trip abroad, where he was given an opportunity to meet with Chinese President Xi Jinping. “Isinama lang po ako ni dating pangulong Duterte sa pulong nila ni Pangulong Bongbong Marcos. Sila naman po ang nag-usap muna. Sa pagkaalam ko ang napag-usapan nila ay tungkol doon sa pagbisita ni former president sa China kung saan po ay naimbitahan siya sa inagurasyon ng building na pinangalanan po sa kanyang yumaong nanay, si Soledad Duterte,” Go said. “Bilang dating presidente ng bansang Pilipinas at kaibigan n’ya si President Xi ng China, naimbitahan po siya sa pagpupulong. Napag-usapan nila ang kanilang pinagsamahan noon bilang parehong lider at si (dating) pangulong Duterte naman po ay pumunta kay Pangulong Bongbong Marcos para ireport po, bilang kanyang obligasyon as a citizen nitong bansa natin, na ireport po sa Pangulo kung ano ang napag-usapan nila doon at ano po ang makakatulong sa ating bansa,” he added. Go underscored the significance of such dialogues, stating that they foster a sense of continuity in governance and allow for the exchange of valuable experiences and wisdom between the two leaders. He added that the Philippines values its relations with China while upholding its sovereign rights and pursuing a rules-based approach in handling disputes in the West Philippine Sea. “I’m sure interest po ng Pilipino ang uunahin ni (dating) pangulong Duterte sa kanyang pakikipagpulong sa bansang Tsina. Kung ano po ang atin ay kanyang ipinaglalaban parati yan. Interes ng Pilipino — yun po ang dapat nating ipaglaban. Ang atin ay atin. What is ours is ours,” he said. Go said “kaya natutuwa po ako na siya mismo si (dating) pangulong Duterte ang bumisita kay Pangulong Bongbong Marcos para mag-usap po ang kasalukuyang Pangulo at dating Pangulo na dati pa namang magkaibigan po... kung ano po ang detalye (ng pag-uusap nila), hayaan na nating ang Palasyo ang maghayag nito.” Senator Alan Peter Cayetano, who served as secretary of the Department of Foreign Affairs under the Duterte administration, previously suggested the possibility of appointing Duterte as a special envoy to China in light of the former president's positive rapport with Chinese authorities. He argued that Duterte's capacity to earn the trust of both the Chinese government and his fellow Filipinos could make him a suitable option if Marcos desires it. Go said that with Duterte's unique communication style and his success in gaining China's confidence, he has consistently remained devoted to what is best for the Philippines. The post Meeting between FPRRD and PBBM an occasion to come together—Bong Go appeared first on Daily Tribune......»»
Proposed P5.768T 2024 budget 9.8% higher than 2023
The Philippines would be "one step closer" to realizing the government's "transformative vision" for the country once Congress accepts the proposed National Budget for 2024, President Ferdinand Marcos Jr. said. The Chief Executive made the remarks in his Budget Message on Wednesday as the Department of Budget and Management turned over the Marcos administration’s proposed 2024 budget or National Expenditure Program worth P5.768 trillion to Congress. In his message, Marcos explained that the proposed budget aims to provide the resources required for government operations and the ongoing pursuit of economic reform. Initial information from the DBM showed that the proposed budget is 9.8 percent higher than the P5.268 trillion General Appropriations Act or the enacted budget for 2023. "With the Congress's approval of the proposed (Fiscal Year) 2024 National Budget, we will be one step closer to achieving our transformative vision for the country, the Agenda of Prosperity," Marcos said. "Our journey has just begun. We will march on — one nation, one people building a better future together," he added. The President said that the proposed budget for 2024 was a key part of the Philippine Development Plan 2023–2028, which aims to strengthen the country's capabilities, protect the buying power of Filipinos, and improve output sectors to create more good jobs and products that can compete globally. "In turn, these strategies are to be supported by an enabling environment characterized by macroeconomic stability, infrastructure development, bureaucratic efficiency, strong rule of law and effective climate action," Marcos said. The President also highlighted the "strong headwinds" the country had to deal with last year as it tried to get its economy back on track. He pointed out that his economic managers made the Medium-Term Fiscal Framework, which is now the "bedrock" of the plan to change the economy, to deal with these problems. The Chief Executive said that the Philippines' gross domestic product grew by 7.6 percent for the whole year of 2022, the biggest since 1976. Marcos said that the country's growth "set the stage" for continued growth in 2023, mentioning that the country's economy expanded by 6.4 percent for the first quarter of 2023, surpassing its Asian peers such as Indonesia, China and Vietnam. The World Bank, he also said, declared that the country could reach above-middle-income status within two years. "Likewise expressing confidence in our country's economic growth, the International Monetary Fund said that it was 'highest among the ASEAN-5', noting its resilience to global pressures," the Filipino leader added. Marcos Jr. likewise cited the country's good credit quality standing, improved revenue performance and high employment rate. "Our immediate economic recovery was the result of the collective effort of the Filipinos. Unity was what made it happen," Marcos said. "For the next five years, we must do more, building on all the gains that we have made – through the same whole-of-government and whole-of-society approach. We need this not only to be effective but to be transformative," he concluded. The post Proposed P5.768T 2024 budget 9.8% higher than 2023 appeared first on Daily Tribune......»»
Bongbong’s foreign policy: More like ‘Macoy’ than ‘Digong’
Despite being dismissed as a spoiled brat and a weakling by both his father and the man he succeeded, Rodrigo Duterte, President Ferdinand Marcos Jr., in his first year in office, stood up to China and showed he is more like the older Marcos than Duterte. Always underestimated, Marcos Jr., observers noted, spent much of his political career surrounded by powerful women, including former First Lady Imelda Marcos and his sister, Senator Imee Marcos. But this shouldn’t fool one into thinking that he is not his own man. Only days after winning last year’s presidential elections, he asserted his independence by denying top allies, including running mate Sara Duterte, key cabinet positions. He also showed his own distinct approach on the foreign policy front by holding cordial meetings with diplomats from both traditional and regional partners. While emphasizing his preference for a diplomatic engagement with China, Marcos Jr., notes the Asia Maritime Transparency Initiative, reiterated the finality of the arbitral tribunal ruling in the South China Sea, and made clear he “will not compromise it in any way,” calling the country’s sovereignty “sacred.” “Taking into consideration the widespread skepticism towards Beijing among Filipinos and within the country’s defense establishment, Marcos Jr. adopted a calibrated assertiveness towards China while welcoming pragmatic cooperation on the economic front,” AMTI said. The perceived wisdom on the younger Marcos’s foreign policy, according to AMTI, is that he is nothing but a mild-mannered version of Duterte. In fact, he was the only candidate during the elections who publicly backed full continuity in the country’s Beijing-friendly policies. He barely mentioned the treaty alliance with the United States, emphasizing his preference for a diplomatic engagement. “Whatever we do, we can’t go to war… we don’t want to go to war with China,” he was quoted to have said. A year into office, however, it is obvious the younger Marcos was advocating a centrist position in the territorial dispute. It was, according to one analyst, a middle-of-the-road decision aimed at appeasing both superpowers, China and the United States. Indeed, it was a balancing act complicated by both internal and external factors. While Duterte was reluctant to confront China over the South China Sea, Marcos Jr. has adopted tougher rhetoric, showing a better appreciation of how the Philippines should position itself given the very uncertain strategic environment it is facing. He is said to have been able to forge closer relations with Washington because his family already has long-standing ties with Beijing which affords him a degree of capital. A year into office, however, it was obvious the younger Marcos was advocating a centrist position in the territorial dispute As AMTI related, the Marcos connection to Beijing goes deep, stretching back to the height of the Cold War period when his father formalized bilateral relations with Maoist China. As the then-announced successor, Bongbong even personally met Chairman Mao, who warmly welcomed the princeling and his family to Zhongnanhai. The Marcoses maintained those linkages even after their ouster from power in Malacañang, albeit on a sub-national level. As overlords of the northern province of Ilocos Norte, the Marcos dynasty continued to welcome trade and diplomatic relations with their Chinese counterparts under the emerging Maritime Silk Road Initiative. Despite the growing Chinese coercive actions against the Philippine Coast Guard and Filipino fishermen in the West Philippine Sea, Marcos Jr. welcomed continued economic engagement with China under his “Friend to all, enemy to none” policy first espoused by Duterte during his pivot to Beijing. Balancing act Compared to former presidents before him, Marcos Jr.’s foreign policy is truly a balancing act not much different from his father’s. Ferdinand Marcos Sr. (1965-1986), during his presidency, pursued a foreign policy that sought to balance relations with both the United States and other countries, including those in the Soviet Bloc. He declared martial law in 1972, and this had implications for the country’s foreign relations. The Philippines’ relationship with the US was close, but during his time, Marcos also sought to strengthen ties with our Asian neighbors. Corazon Aquino (1986-1992) focused on restoring democracy and human rights in the Philippines after the end of the Marcos dictatorship. She sought to rebuild relations with other countries that had been strained during Marcos’s rule. Her administration also emphasized diplomatic engagement with ASEAN countries and the international community. Fidel V. Ramos (1992-1998) prioritized economic diplomacy and focused on attracting foreign investment to boost the Philippine economy. He worked to strengthen relationships with ASEAN and APEC countries and fostered ties with the US, Japan, and other regional partners. Joseph Estrada (1998-2001) emphasized national sovereignty and non-interference in domestic affairs. He pursued good relations with ASEAN nations but was criticized for a more inward-looking approach to foreign affairs. Gloria Macapagal-Arroyo (2001-2010) focused on economic diplomacy and sought to improve the Philippines’ standing in the international community. She maintained strong ties with the US and also expanded engagement with China. Benigno “Noynoy” Aquino III (2010-2016) emphasized upholding the rule of law in the region and advocating for the Philippines’ territorial claims in the South China Sea. He strengthened relations with traditional allies like the US and worked to foster closer ties with other Asian countries. While Bongbong Marcos is not his father, the legacy of the former Filipino strongman hangs over his administration. This legacy of pragmatism is also reinforced in the sentiments of the defense establishment and the broader Filipino public who want the government to take a tougher stance against China. Unlike Duterte, the younger Marcos has shown in his first year in office that he is adopting a more calibrated foreign policy combining elements of pragmatism and assertiveness towards a major power like China while seeking to leverage Philippine ties with the United States. The post Bongbong’s foreign policy: More like ‘Macoy’ than ‘Digong’ appeared first on Daily Tribune......»»
Intelligence failure
With former president Rodrigo Duterte choosing to remain tight-lipped about his meeting last week with Chinese leader Xi Jinping, pundits went to town sowing intrigue and trying to drive a wedge not only between Duterte and his daughter, Vice President Sara Duterte, on one side, but President Ferdinand Marcos Jr., on the other. It did not help that Defense Secretary Gibo Teodoro had to add grist to the rumor mill by issuing a statement days ago, pressing Duterte to reveal what he and Xi talked about. On Monday, hours before President Ferdinand Marcos Jr. delivered his second State of the Nation Address, Teodoro apologized. In a television interview, Teodoro stressed that Duterte “should be treated with the respect and dignity due to any former president,” short of admitting he may have come off as disrespectful in needling Duterte to spill the beans. “So, President Duterte’s visit to China is not unexpected, neither is it a cause for concern. And I apologize for the unintended spin put in a jocose comment on my part,” Teodoro said, in an attempt to blunt the sharp edges of his comments last week. But Teodoro’s backpedaling and his half-baked apology all the more laid bare the panicky inquisitiveness he displayed days ago, which was a far cry from Marcos’ own politically astute handling of journalists’ queries. While he might have been caught flat-footed by Duterte’s trip to Beijing, Marcos Jr. would not be put on the spot when he said he hoped the meeting between the former president and the Chinese leader would ease tensions between the two countries. Likewise, Marcos said he welcomed any form of communication between the Philippines and China, especially given the tension between the two countries’ forces in the disputed waters of the South China Sea. Mr. Marcos’ response to the meeting was cautious, but diplomatic, something that would hew to Xi’s declaration later that, indeed, he and Duterte talked about moving the relations between China and the Philippines closer. While the present administration is seen to have pivoted the country back to the loving embrace of Uncle Sam, Marcos reiterated that he wants to maintain a good relationship with China, while vowing to defend the Philippines’ interests in the South China Sea. Not that the President should concern himself with the trips outside the country of his predecessor; he has the myriad problems of the country — inflation, debt repayments, food security — to focus his energies on. Just the same, judging from the President’s initial statement, it was clear that Mr. Marcos was not briefed about Duterte’s important trip to Beijing. Important, considering the geopolitics at play; important, as seen from the President expressing hope his predecessor would speak about it. But that should have been it. That Marcos wanted to know was to be expected. Still, for Teodoro to echo it reeked of panicky inquisitiveness or a misplaced doggedness to justify his being awarded the defense portfolio just recently. Under any defense playbook, the President not knowing in advance about Rody’s trip to Beijing was a failure of intelligence, and that may be the reason Teodoro has been tripping over himself with one gaffe after another. As the missteps mount, the crazier the spins that are being spread, one of which is that Duterte traveled to China to solicit support for his party as a credible alternative to the Marcos administration. Two things we’d say about this fiasco. One, no one can order Duterte around. President or not, he has never been a pushover; more like someone who would do the opposite just for spite. Two, he’d never ask for support for his party from China because that would be treason. And so, can the loonies behind these coffee-shop yarns already get back to their padded cells or to buying pirated movies? The post Intelligence failure appeared first on Daily Tribune......»»
Senators back protest vs China before UNGA
Most senators will support Senate Deputy Minority Leader Risa Hontiveros’ resolution urging the Marcos administration to call out China’s aggressions in the West Philippine Sea before the United Nations General Assembly......»»
Yellen to visit China, raising need to ‘responsibly manage’ ties
Treasury Secretary Janet Yellen is set to visit Beijing this week, the United States said Sunday, marking the second trip by a cabinet official to China since ties between the world's top two economies deteriorated earlier this year. Yellen is expected to discuss with her counterparts the importance for both countries "to responsibly manage our relationship, communicate directly about areas of concern, and work together to address global challenges," said the Treasury Department in a statement. Yellen's planned July 6-9 trip comes just weeks after Secretary of State Antony Blinken met China's top leader President Xi Jinping and Foreign Minister Qin Gang in Beijing in June. Blinken was the highest-ranking US official to visit the Chinese capital in nearly five years, and Xi said on the rare trip that he saw headway in the strained relationship between Washington and Beijing. In Beijing, Yellen will discuss how the United States views its economic relationship with China, a senior Treasury official said Sunday. She will meet with senior Chinese officials and leading US firms, the American spokesperson said without providing specifics. While the US seeks to secure its national security interests and protect human rights, actions to this effect are "not intended to gain economic advantage over China," the official added. Washington also looks towards "healthy" ties with Beijing and does not seek to decouple the economies, while pursuing cooperation on urgent challenges like climate change and debt distress, the American official said. The United States does not expect "significant breakthrough" from this initial trip, but it does aim to build longer-term channels of communication with China, the Treasury official added. - Restarting engagement - "I think the US government is clearly trying to put some floor under the deterioration of the economic relationship," Edward Alden, a senior fellow at the Council on Foreign Relations (CFR) told AFP, speaking on the Treasury secretary's intentions to visit China. A Yellen trip could "restart a steady pattern of engagement at lower levels," he said, adding that the US has shifted from being ambiguous about how far it was supporting decoupling to explicitly adopting a strategy of "derisking" instead. This means "focusing on a narrower range of items that have strategic importance, trying to build fences around those items, but otherwise trying to continue to nurture a reasonably robust US-China economic relationship," Alden said. But observers do not expect a quick resolution to tensions. President Joe Biden's administration is considering a program to restrict certain US outbound investments involving sensitive technology with key national security implications -- an issue that has riled Chinese officials. Other possible sticking points include amendments to China's anti-espionage law which recently broadened the definition of spying while banning the transfer of information relating to national security -- a move that has spooked foreign and domestic businesses. The senior Treasury official told reporters Sunday that Washington intends to communicate its concerns over the law. While significant disagreements may not be resolved in a single trip, the US seeks to deepen and increase the frequency of communication with China and to "stabilize the relationship," avoiding miscommunication and expanding collaboration where possible, the official said. - Global growth, debt problems - For the US, discussions with officials from the world's second biggest economy "are important to help spur stronger global economic growth and to tackle the mounting debt problem of the Global South," said Wendy Cutler, vice president at the Asia Society Policy Institute, discussing a prospective Yellen visit. On Beijing's part, officials are "looking for concrete steps taken by the US to show that 'decoupling' and holding back China is not the ultimate goal of the United States," Cutler added. But despite US policies that have drawn ire from Beijing, officials likely have an awareness of China's continued export dependence and the importance of the US market, CFR's Alden said. "I think that there's a growing awareness in Beijing that China also needs to play a role in nurturing this economic relationship with the United States, because it's simply too important to China as well," he added. Washington and Beijing recently have clashed over trade, human rights and other issues. Relations came under further stress this year when the United States shot down a Chinese balloon it said was used for surveillance -- a claim China strongly denied. But Blinken's reception in Beijing has been seen as a symbolic sign of lowering temperatures. bys/mlm/dw © Agence France-Presse The post Yellen to visit China, raising need to ‘responsibly manage’ ties appeared first on Daily Tribune......»»
Hurry up
Looking back to the first year of President Ferdinand R. Marcos Jr.’s administration leads us to believe that he has pivoted out of his predecessor Rodrigo Duterte’s tight embrace of China and rebuilt friendships with old allies, particularly the US and Europe. In his official trips abroad to meet with leaders of other Association of Southeast Asian Nations, he never failed to be emphatic about the need to comply with international law and the UN Convention on the Law of the Sea. Explicit appeals had also been made to European nations to support the enforcement of UNCLOS and the historic decision of the Arbitral Tribunal in the South China Arbitration (Philippines v. People’s Republic of China) of 12 July 2016 that unanimously favored our beloved Philippines in its dispute against Chinese claims on Philippine territorial waters. In rebuilding ties with the US, four more US bases were added to the existing five sites under the 2014 Enhanced Defense Cooperation Agreement or EDCA that was signed to bolster the Visiting Forces Agreement between the two countries. While we leave the wisdom of more EDCA sites to the security sector, which should prioritize the national interest above anything else, there is another equally important sector confronted by challenges. The Philippine Atmospheric, Geophysical and Astronomical Services Administration raised the El Niño alert, saying it may declare the start of the phenomenon this week as it expects it in the next two months with a probability of 70 percent. Defined as a climate phenomenon characterized by the abnormal warming of the surface waters of the eastern tropical Pacific Ocean, El Niño could have significant effects on global weather patterns, including on agriculture. Given that farmers, policymakers, and agricultural communities must monitor weather forecasts and adapt their practices to mitigate potential impacts, the President continues to take the lead in handling agriculture — a stand that has been met with askance by many, even among those in the government. Eyebrows were raised at the seeming inability to effectively address what bedeviled agriculture in the past year, including the ginormous prices of essential commodities like sugar, eggs, and onions, which at one point rocketed to as high as P700 a kilo. Behind the critical headaches in the agri sector are the already suffering Filipinos whose pockets are badly frayed by inflation rates, and farmers losing their only source of livelihood. A lingering controversy is the government’s addressing of the soaring rise in sugar prices through importation. In 2022, Sugar Order No. 4 was issued by the Sugar Regulatory Administration, giving the nod to import 300,000 metric tons of sugar. Who would forget that the denial resulted in the firing of SRA and DA officials, along with then-Executive Secretary Vic Rodriguez? Likewise puzzling is the recent selection of just three entities to import 440,000 metric tons of sugar. It remains unclear who handpicked sugar traders All Asian Countertrade, Sucden Philippines Inc., and Edison Lee Marketing Corporation. Either way, it doesn’t look good and bears clarification. Everyone, including many of the President’s supporters, is clueless as to why, despite the myriad issues and problems that he has to attend to in all other sectors, a full-time secretary is yet to be appointed — someone who could give the department and the sector his/her full-time attention. Faced with the imminent threats of El Nîno, time is of the essence. Lowly Filipinos cannot afford to wait unprepared for the dry spell with shifts in rainfall patterns. Whatever it takes, it is crucial to act quickly, efficiently, and without delay. In the words of Albert Einstein, “We cannot solve our problems with the same level of thinking that created them.” To solve agricultural problems, we need to think beyond the existing mindset or approach that might have contributed to those problems in the first place. The post Hurry up appeared first on Daily Tribune......»»
Biden, Modi sending China message
US President Joe Biden has embraced Indian Prime Minister Narendra Modi, as he has few other world leaders, because he is laser-focused on opposing China, putting aside any worries about the Hindu nationalist’s authoritarian tendencies. With two dinners — one formal and the other more casual — a meeting with leading CEOs, and a long list of concrete commitments, including agreements on US engines for India’s new domestic fighter-jets and a sizable semiconductor factory, Biden gave Modi the full pomp of a state visit. Biden is “trying to tell the world that America is back. We’ve got partners and allies and we’ve got India on our side of the ledger,” said Aparna Pande, a South Asia expert at the Hudson Institute. Biden hopes to “send a message to China — you have your people and I have my people and India is among mine,” she said. The joint statement for Modi’s visit, according to former State Department official Tamanna Salikuddin, was “remarkable” in its scope and included defense deliverables on par with what the US would give a NATO or other treaty ally. “The depth and breadth of what we’re committing to with India is really putting them in a totally different basket. And I think that is what Modi wanted,” said Salikuddin, now director of South Asia programs at the US Institute of Peace. Despite renewed efforts to defuse tensions, the Biden administration views China as the most significant long-term rival to the United States. Both Biden and Modi publicly downplayed the significance of China, but in his speech to the US Congress, where he supported a “free, open, and inclusive Indo-Pacific,” Modi made a clear allusion, drawing approving nods from lawmakers. The world’s most populous nation, India, which has a rapidly expanding economy, has a protracted territorial dispute with China that is widely viewed negatively in India. The post Biden, Modi sending China message appeared first on Daily Tribune......»»
BSP not seen following Fed
Bangko Sentral ng Pilipinas or BSP is unlikely to follow the US Federal Reserve’s lead and pause rate hikes if inflation remains high, BSP Deputy Governor Francisco Dakila Jr. said on Thursday. Dakila said this during the Marcos Jr. administration’s economic briefing to Singapore’s business community as inflation has softened after soaring to 14-year highs towards the end of 2022. BSP raised the policy rate by 425 basis points to 6.25 percent to help slow the pace of inflation, which fell to 6.6 percent in April 2023. Not in lockstep “Even if the Fed decides to pause from its policy tightening, which it did this morning, we may not move in complete lockstep if the domestic inflation picture warrants a different response,” Dakila said. Dakila mentioned that the minutes from the policy meeting held in May suggested that the BSP had adopted a more cautious approach. Putting aside the cautious stance, the central bank’s inflation forecast indicates that inflation is expected to return to its target range of 2 to 4 percent by the last quarter of 2023. BSP Governor Felipe Medalla has mentioned that inflation could drop below 4 percent by October or December, aided by a slowdown in the rate of increase due to the influence of base effects. In 2022, the BSP made efforts to control inflation and manage investor expectations by aligning its actions with those of the US Federal Reserve. In July, the central bank called for an emergency policy meeting and raised interest rates by 50 basis points to prevent inflation from rising too rapidly. Jun Neri, the lead economist at the Bank of the Philippine Islands, said the BSP hike could still pull a walk if inflation turns sideways. “While many are hoping BSP is done hiking, we really can’t rule out additional rate hikes should domestic inflation bounce back or if the Federal Reserve hikes some more later this year,” he said in a Viber message. Domini Velasquez, the chief economist at China Banking Corp., noted that the need to minimize the gap between interest rates in the Philippines and the United States would strongly influence policy choices. “Given the Fed’s recent guidance of possibly 2 more quarter-point hikes, we think the BSP may be forced to hike at least one more time just to maintain sufficient interest rate differentials,” she said in a Viber message. “Instead, they will likely hike to prevent capital flight and unwarranted depreciation of the peso. We saw this happen last year when the peso depreciated to 59.00 per (US Dollar),” Velasquez added. The post BSP not seen following Fed appeared first on Daily Tribune......»»