Metro Manila (CNN Philippines, August 23) — National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan does not believe that cutting off business ties with China could help resolve harassment issues in the West Philippine Sea.
During a Palace briefing on Wednesday, Balisacan expressed doubt that boycotting Chinese businesses would work, saying that a diplomatic approach in dealing with maritime issues is the way to go.
“As the president said, we are an enemy to none and we are a friend to all. Let’s keep it that way. We just have to use the diplomatic channel to get our issues addressed,” he said.
The NEDA executive also stressed that the Philippine economy “must by all costs be protected.”
“We don’t want to cut… This economy, including China, is part of the global value chain. Our economy is part of the global value chain. We are linked to China directly or indirectly. That should not be the approach that we take in dealing with our neighbor,” he added.
China is one of the Philippines’ major trading partners, earlier data from the government showed.
Just this month, Senate President Juan Miguel Zubiri floated the idea of boycotting all Chinese companies and their products, suggesting that the Philippines should explore other nations as reliable trading partners and not just depend on China.
Zubiri said boycotting Chinese-made products would be considered a sign of protest amid Beijing’s continuous bullying in the disputed waters.
This call was triggered by the recent aggression from China where its coast guard vessels fired water cannons at Filipino vessels en route to Ayungin Shoal for a resupply mission.
READ: Chinese coast guard fired water cannons at PH vessels en route to Ayungin Shoal – PCG
