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International development research lab AidData has reported that although the economic relationship between the Philippines and China is generally positive, significant risks remain particularly concerning debt and financing terms.
AidData director of policy analysis Samantha Custer points out: “Engaging with China and other major economies fosters competition, ultimately leading to better terms and agreements for the Philippines. This competitive engagement strategy helps ensure that the country can negotiate more favorable deals from various international partners.”
She highlighted that under the leadership of President Ferdinand Marcos Jr., the Philippines has adopted a strategic hedging approach to manage its economic relations. The Marcos administration has prioritized diversification, seeking to balance economic engagements across multiple countries rather than relying heavily on any single partner.
Despite the advantages, the report mentions several challenges associated with the Philippines’ economic relationship with China. One major concern is the potential “debt trap” posed by Chinese financing.
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