Philippines announces exit from China’s Belt& Road Initiatives

The Philippines has announced to exit from China’s Belt and Road Initiatives. The full termination of major infrastructure projects under the Belt and Road Initiative has been announced by the Philippine Department of Transportation in favour of competitors from the West and Japan. As per the Philippine Senate, doubt now shrouds nearly all of China’s crucial investment initiatives in the Philippines, owing to economic and political factors. This has led to a new low point in Philippine-China relations, marking a drastic reversal from the six years of warm engagement during the pro-Beijing Rodrigo Duterte presidency.

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