

Cici
8.5K posts










PHILIPPINES-CHINA RESET? President Marcos raised the possibility that the US and Israeli war against Iran could provide an impetus for the Philippines and China to reach a deal in developing gas resources in disputed areas in the South China Sea. The Philippines and China are embroiled in a longstanding row over South China Sea areas that are within Manila's exclusive economic zone (EEZ) and continental shelf. In 2016, a Hague-based arbitral court voided China's expansive claim in the South China Sea and affirmed the Philippines' sovereign rights over its EEZ. The Chinese government refused to recognize what it described as an "illegal" ruling. Despite the dispute, Marcos and Chinese President Xi Jinping agreed to resume discussions on oil and gas exploration in the South China Sea during a bilateral summit in 2023. "That’s something we’ve been talking about for a great deal, but territorial disputes are getting in the way of that. Maybe this provides impetus for both sides to come to an agreement. That’s something we are exploring. Everything that might be of help we are certainly pursuing," Marcos told Bloomberg News on Tuesday. When asked whether there is a reason to think that a reset in relations with China is needed given the geopolitical chaos, Marcos said: "I think it’s certainly going to happen; it’s happening now. There’s going to be a very, very serious restructuring." "I was watching Prime Minister (Lawrence) Wong from Singapore saying we will have to redraw all, even our legal relationships and international law. There will have to be a new normal,” he added. Marcos said he sees a "realignment" taking place "at first in the Middle East" and its effect would be on trade relations. "We also have to remember we have an enormous population in the Middle East. We have over two million Filipinos working in the Gulf countries and very seriously affected as well. One of our biggest sources of income is remittances we get not only from OFWs (overseas Filipino workers) in the Middle East but also around the world," he added. Marcos said other countries are honoring their contracts with the Philippines, citing its importation of fertilizer from Indonesia and China, refined fuel from Japan and South Korea and oil from Malaysia. The Philippines is also exploring possible fuel supply deals with China or Russia. "China, we always had a trading relationship with and that’s ongoing, and we are trying to increase that supply. Russia is not a traditional supplier of crude oil to the Philippines or any energy energy supply, but we are exploring that as well," the President said. "Basically, we are trying anything, everything to secure supply because that’s the one thing that we can do about. The pricing is going to be a much more difficult challenge because everyone is a price taker when it comes to oil," he added. | via @alexisbromero



This is big: the Philippines - under Marcos (!) - is reopening talks with Beijing on joint oil and gas development in disputed South China Sea (SCS) waters. Talks his own government had unilaterally ended in 2022 to pivot toward Washington, and which fueled the tensions in the SCS during the next few years. So quite literally, the Iran war is making the Philippines pivot back to China. Now tell me again how the Iran war is "China's nightmare"? Between this and the THAAD withdrawal from South Korea, looks like it's making Asia clearly shift in China's favor.



Philippine President Ferdinand Marcos Jr. is open to restarting talks with Beijing on a joint oil and gas project in a disputed area of the South China Sea bloomberg.com/news/articles/…














The Philippines wants to jointly develop oil reserves in the South China Sea with China. For the record, China since the 1970s, have always maintained the policy of "Put disputes on Hold, Jointly develop the South China Sea". Philippines, in an energy emergency, is now begging China, after years of deliberately sabotaging relations with China. As a mature power, China will likely accept the overture, ON THE PRE-CONDITION of Philippines ceasing all provocative activities in the South China Sea.



























