EMBRASSER ... LE DRAGON ?
A US ambassador noted the “deepening" trade relations between the Philippines and China due to “shared history and ethnic connections" – particularly wealthy Filipino taipans – despite smuggling that “distort economic data," according to a cable released by Wikileaks on Thursday. Francis Ricciardone Jr., who is now the incumbent US ambassador to Turkey, sent the cable to Washington days after the April 2005 state visit of Chinese President Hu Jintao, which he titled “Embracing the Dragon: The Philippines Deepens Economic Engagement with China". President Benigno Aquino III himself is already set to embark on a five-day state visit to China next week, focusing on getting investments on infrastructure, mining, energy, information and tourism. “As China offers more foreign aid to the Philippines and becomes an increasingly large market for Philippine goods, the relationship between the two countries is likely to deepen economically and may extend to cooperation i...