THE PHILIPPINES THREATENED BY CLOSER CHINA-TAIWAN RELATIONS
Closer trade relations between Taiwan and mainland China may lure 135 Taiwanese export companies in Philippine economic zones and free ports to move out, threatening local exports, tourism and the jobs of Filipino based in Taiwan. The Philippines could lose foreign direct investments from Taiwan as a result of a looming economic cooperation framework agreement between it and the China mainland. Taiwanese companies invested $6.51 million in so-called brick and mortar enterprises here that generated jobs for thousands of Filipino in 2008, before dropping by 80% to $1.34 million in 2009 last year amid the global economic slump. As of january, foreign direct investment from Taiwan posted a net inflow of $430,000. Fewer locators will result in fewer export.There was also a 14.7% drop in tourist arrivals from Taiwan last year, as Taiwanese tourists chose to travel to China, which has relaxed travel restrictions on them. Filipino workers in Taiwan may lose their jobs if more Taiwanese...