you hit the nail on the head kabayan
The Philippine economy will continue to improve without Taiwan. Nor we need the Chinese poachers and thieves.
Taiwan-Philippine economic exchanges may be deferred: minister - Taiwan News Online
Taiwan-Philippine economic exchanges may be deferred: minister
Central News Agency
Taipei, May 15 (CNA) Taiwan is considering suspending economic exchanges with the Philippines because of its handling of an attack by one of its government vessels on a Taiwanese fishing boat, Economics Minister Chang Chia-juch said Wednesday. If the Philippines does not provide satisfactory responses to Taiwan's demands related to the incident by 6 p.m. Wednesday, Taiwan will impose further sanctions against the Philippines, Chang said at a legislative hearing. Invitations of Philippine officials, subsidies for Philippine buyers to visit Taiwan, and investment solicitation and trade promotion activities could all be suspended or postponed until August at the earliest, the ministry said in a prepared document. The ministry has also stopped encouraging local businesses to invest in the Philippines, Chang said.
More far-reaching economic sanctions, however, could hurt Taiwan more than the Philippines. Bilateral trade between the two countries totaled US$10.97 billion in 2012, with
Taiwan showing a US$6.77 billion trade surplus, according to government statistics. The Taipei-based Taiwan Institute of Economic Research cautioned recently that
potential economic sanctions against the Philippines would likely have only a limited impact on the Philippine economy. Taiwan was the Philippines' 10th largest investor in 2012, injecting US$58.54 million into the Philippine economy last year, but that only accounted for 0.85 percent of foreign investment in the country.
In addition, around 10 million Filipinos work overseas, but only 87,000 of them work in Taiwan, also limiting Taiwan's leverage, said Gordon Sun, director of the institute's macroeconomic forecasting center. "Imposing economic sanctions on the Philippines might not necessarily be in Taiwan's favor, and the Philippine economy might not be hurt as much as we expect," he told CNA on May 13. (By James Lee)