They won’t say it in public but Filipino businessmen, including those behind some of the sprawling conglomerates in the country, are becoming increasingly worried over growing tensions between the Philippines and China.
There are rumblings in the business community, say well-placed sources, with some business people quietly appealing to those in power to “de-escalate the situation.”
The rumblings are real, sources say, and many are pushing for more “peaceful means” to end the conflict or to at least prevent it from escalating. Thus, we are where we are today. Tensions have escalated and we are seeing more water cannon incidents from Chinese vessels against our fishermen and the Philippine Coast Guard.Marcos has been roaming the world to rally the support of allies in dealing with China’s aggressive behavior in the disputed seas.
This would hopefully help build our supply chain resilience because, as some Filipino businessmen fear, tensions with China have made our supply chains vulnerable.Marcos is banking on our allies for support. “Furthermore, through the CHIPS and Science Act’s International Technology Security and Innovation Fund, the United States and the Philippines plan to coordinate our efforts to develop and expand the Philippine semiconductor workforce to strengthen the global supply chain.”
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