Businessmirror january 29, 2017

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PHL-China ties:

A guarded alliance

President Duterte (second from left) and Zhang Dejiang (second from right), chairman of the Standing Committee of the National People’s Congress of China, attend a meeting at the Great Hall of the People in Beijing on October 20, 2016. Wu Hong/Pool Photo via AP

D

By Rizal Raoul Reyes

uring his childhood days, newly appointed Ambassador to Beijing Jose Santiago L. Santa Romana recalled that China, with its billion-plus population, was still a sleeping giant and a third-world country. “I never imagined that I will be representing the Philippines [as an envoy]. I remember…[China] then was a backward country,” the former student leader from the De La Salle University during the socalled First Quarter Storm in the

1970s said in an interview at the sidelines of a recent breakfast forum in Manila. The appointment of Santa Romana as the Philippine envoy to China comes amid “interesting” times, as the two countries are

trying to settle simmering territorial dispute in the West Philippine Sea, and for the Chinese, the South China Sea. Nevertheless, Santa Romana is optimistic on the diplomatic relations between Beijing and Manila. “Overall, the challenge ahead of us is quite daunting. But, I think, the prospects for Philippines-China relations are bright in the short term and [the] coming years,” he said. “The key, however, is how to proceed and make sure that the issues can drive the alliance relationship forward and, at the same time, maintain vigilance on the issues that divide us,” said Santa Romana, a veteran journalist who stayed and worked for 38 years in Beijing.

Citing lessons from history, he pointed to Vietnam as an example on how it was able to settle a border war with China, a rising global power in the late-1970s. In the winter of 1978 China, then under the helm of Premier Deng Xiaoping, wanted to teach Vietnam a “lesson,” by sending more than 80,000 Chinese troops across the border into Vietnam. Furthermore, the incumbent minister asserted that the Chinese will easily pulverize the Vietnamese army and take Hanoi in a week. However, the inexperienced and underequipped People’s Liberation Army (PLA) met a strong resistance from battle-tested Vietnamese soldiers. As a result, the Chinese were routed by local militia from posi-

tions that were used for centuries against invaders from the north. Beijing recalled its troops six weeks later, after suffering heavy losses. Santa Romana emphasized that political relations are important to settle, like the conflict between China and Vietnam. The implosion of the former Union of Soviet Socialist Republics (USSR) helped in solving the conflict, since Vietnam was backed by the USSR during the 1970s. Although the dispute took eight years to settle, he said it was worth exploring the political option.

Trump’s Asia ‘pivot’

Prof. Jay Batongbacal of the University of the Philippines believes Continued on A2

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he key, however, is how to proceed and make sure that the issues can drive the alliance relationship forward and, at the same time, maintain vigilance on the issues that divide us.” —Santa Romana

Property market seen sustaining strength in 2017 HE Philippine real-estate industry has remained in good shape at the tail end of last year, with the new administration in place, and is expected to sustain its strength through 2017, according to Pinnacle Real Estate Consulting Services Inc. (Precsi). As per the property consultant’s report, dubbed “Business As Usual—Market Insight Q4 2016,” the ensuing wait-and-see attitude of the market toward the economic situation in the country under President Duterte is steadily paving the way to take

‘T

his is a strong signal that the government, businesses and consumers are now spending more, as compared to the relatively lackluster GDP growth rate of 5.8 percent in 2015, which was a year prior to the national elections.”—Salas

advantage of the supply-anddemand gaps across all property segments. What triggers the rise of additional developments is the stable economy, complemented by low-interest regime, the study revealed.

Picsfive | Dreamstime.com

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By Roderick L. Abad | Contributor

Continued on A2

PESO exchange rates n US 49.6950

n japan 0.4342 n UK 62.5561 n HK 6.4058 n CHINA 7.2212 n singapore 34.8761 n australia 37.4402 n EU 53.0643 n SAUDI arabia 13.2555

Source: BSP (27 January 2017 )


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