Philippines encouraged to strategically align with China in view of US tariff disputes
Hangin' with the Big Dogs:
Philippines, China, US, Trade Tensions, Trump, and ASEAN
In the thick of things, the trade war between the US and China left keen players like the Philippines and ASEAN trembling. Huang commented, "We've got skin in the global trading game. So it's all about keeping a free and fair global economy ecosystem thriving, not just for China and ASEAN, but for everyone."
Buddying Up: China and ASEAN
During Donald Trump's reign, China and ASEAN found themselves in the hot seat. Here's a lowdown on their strategies:
China's Dip:
- FDI On the Rise: To dodge US tariffs and keep global markets humming, China turbocharged foreign direct investments (FDI) in ASEAN countries, transforming them into savvy manufacturing hubs.[1]
- Economic Megaphone: China amplified economic links with ASEAN countries, stamping itself as a formidable trade partner and fashioning unified ripostes to US trade policies.[4]
ASEAN's Swerve:
- Manufacturing Shift: As manufacturers skedaddled from China to retain US market access, ASEAN countries experienced a delightful supply chain diversification.[2]
- Talk it Over: Rather than firing back with retaliatory tariffs, ASEAN nations opted for diplomatic dialogues with the US, emphasizing the importance of open dialogue and collaboration.[4][5]
- Trade Juggling: Partnering up, ASEAN nations navigated a surge in Chinese imports and managed escalating trade tensions within the multilateral trading system.[5]
Joint Forces:
- Teamwork with China: ASEAN and China teamed up to counter US tariffs, fostering economic cooperation and fortifying their bond.[4]
- Multilateral Rally: Both China and ASEAN got in the ring to safeguard the multilateral trading order amidst trade skirmishes.[4]
In this dance of economic diplomacy, China and ASEAN proved they could tango with the big dogs of the global economy.
- Huang's remarks underscored the common stake that the Philippines and ASEAN have in maintaining a free and fair global economy, especially in the midst of trade tensions with China and the US.
- During Donald Trump's presidency, China's strategy included a rise in foreign direct investments (FDI) in ASEAN countries to avoid US tariffs and solidify itself as a significant trade partner.
- ASEAN nations chose diplomatic discussions over retaliatory tariffs when dealing with the US, highlighting the importance of open dialogue and collaboration in policy-and-legislation and general-news discourse.
- In an effort to counter US tariffs and preserve the multilateral trading order, both China and ASEAN joined forces, showcasing their ability to navigate trade politics and stand alongside the major players in global trade.
