A critical analysis on the socio-economic effects of Philippine-China trade and foreign direct investment

Abstract

Every country has its different advantages and specializations. Certain ingredients add up to this variation such as geographical location, historical events, culture, society, etc. Due to their uniqueness and distinction, certain products are only available to be produced efficiently in a certain place. With the advent of globalization, these products can now be within reach by different countries that are in need of said commodities. These do not only pertain to consumer goods such as food, beverages, and clothing, but also to labor forces that are cheap as well. In the case of the Philippines and China, different factors contribute to the continuous exchange of goods. These are land, or the raw materials that the two posses, labor, and the bamboo network, which is the a network of close-knit Chinese entrepreneurs with large corporate empires in southeast Asia that contribute mostly to the advancement of China’s economy. With the opening up of China’s market, it has now become one of the global superpowers that dominate the international trade relations. The Philippines, being one of its long-time partner, should maintain its authority over its territories, and resources. It should uphold national sovereignty and assert its rights for the benefit and welfare not just of the few elites, but also for the masses, which contribute the majority of the population in the Philippines.