By: Elena Grace Flores
UNTV News and Rescue
[VIDEO]: 3 China-backed major railway projects, cannot start due to no funds – DOTr
China Backed Out from Giving Loans
Usec. Cesar Chavez of DOTr bluntly said that China backed out. This is from providing loans to 3 major railway projects approved during the Duterte administration. President Bongbong Marcos hereby orders the Department of Transportation to go back to the negotiating table with their Chinese counterparts.
Filipinos have mixed feelings about getting loans from China. It’s a relief to some since the Chinese creditors are notable for their debt traps. As reported in other countries like Pakistan and Sri Lanka. It’s allegedly their way of taking over territories.
South China Sea Conflict
If China is serious about having a bilateral relationship with the Philippines over the South China Sea conflict, they should show diplomacy in settling agreements sealed during the previous administration. The last thing they could do is to test the patience of the new President. Once triggered, he can easily work with his collective alliances against China.