The on-going China's One belt Silk Road that will benefit almost half of the world's nations that will impact to more and greater growth of poor performing economies today is a foreseeable hope of tomorrow.
Such project initiated. and rallied by China is something that will challenge everyone specially the United States in terms of economic and political global domination and monopoly. It is just feared that along the way, the conduct and operation of this project currently undergoing will run to better cooperation and harmony of nations in the environment of trade, setting aside political differences remembered in history.
The situation with the Philippines is something odd, due to before any economic alliances, this country may built with China, this nation has already taken advantage of the poor and weak footing of the Philippines in the West Philippine sea with its reclamation and territory grabbing, and ignoring the UNCLOS ruling in the SCS favoring the \Philippines. This means that the trust and confidence for friendly relations of China towards the Philippines is already colored with doubts, that the President, in its attempt to bring out the topic in his visit in China, was already violated by threatening war if the Philippines insist the UNCLOS recognition. The meeting of the two leaders is already a sign that we are set as an under rated nation incapable of forcing China to vow with the UN body, yet, the situation do not end there.
On our part, the One belt Silk Road is a distant matter with the Philippines, and may not be substantial to participate in it actively due to geographical conditions do not favor our side. Ours, will dictate continued bilateral trade agreements with China instead of participation.
Instead, we should encourage our manufacturing sector by the lead of government policies and guidelines that should attract and enhance local and foreign investments. We should reduce regulations on business and promote easier access of local and foreign capitals for a period of time until surplus are met satisfactorily. One belt silk road is a dangerous condition for the country if joined, for it will result to the loss of our local jobs and closure of our factories, that will be a losing proposition for the country primarily. Even our bilateral trade relations is still not equally beneficial , due to our major exports which are agricultural produce cannot sustain and make our export levels due to our poor and non-mechanized agriculture system cannot cope with the volume or produce surplus. The rice importations alone is a negative condition that our agricultural capacity can compete abroad, instead we will be in reversed trade against the modernized farming of China and other countries.
In all, the one belt silk road cannot be beneficial, rather bilateral agreements will sustain our condition.