Nikkei Asia published the article “Apple moves closer to China despite supply chain adjustments” in its April 26, 2024 issue. It offers an intriguing narration of Apple deepening its business ties with China after their withdrawal during the Covid-19 pandemic.
Such move is a recognition for China’s market size, supply chain and manufacturing efficiency. Nevertheless, Apple’s move reflects a balancing act in leveraging complex political and commercial dynamics. It is interesting to note that Apple’s rise from near bankruptcy in the 1990s to the world’s most valuable company has closely followed China’s economic ascent.
According to the International Monetary Fund, the Philippine economy is considered the newest industrialized nation in the Asia-Pacific region. By 2024, the Philippine economy is projected to be ₱26.55 trillion , making it the 32nd largest in the world and the 13th largest in Asia by nominal GDP.
The Philippines should ride on the growth curve and focus more on economic activities, so as to strengthen our bargaining position and enhance our influence on the global stage without resorting to risky strategies. Singapore is a best example— a relatively small country that faces little interference from major powers due to its economic strength. Unlike superpowers, the Philippines cannot benefit from wartime economies, because the risks far outweigh the short-term benefits.
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