China must be allowed peaceful rise, experts say

THE government’s pivot to China provides the opportunity to participate in that country’s desire for a “peaceful rise,” as Beijing reverses centuries of decline and retakes its place in the world.

“I note that China is looking for new ways of leading the world,” Asian Institute of Management (AIM) Professor Frederico M. Macaranas said on Thursday during a China-Philippines conference at AIM.

“Critical… are the islands in the (South China Sea). It is the joint use of assets, not ownership of assets, that will matter for our relationships. Therefore, I believe that the peaceful rise of China will happen… As a leader of a global system, it cannot just be a nation. It must go beyond nation,” he added.

“But [what is] important for China [is] how will you share those resources… Can we afford to have a war over (resources)? No. The peaceful rise of China is therefore required.”

Mr. Macaranas added that such an approach will ensure a “boom” in Philippine-China trade.

Former Finance Secretary Roberto F. de Ocampo said that Asia should not depend on Western financial frameworks, and noted the need for universal and stable financial banking systems, modern infrastructure, and general security in the region to ensure ongoing and long-term economic growth in Asia.

Among the industries gearing up for expanded partnership with China are infrastructure, with spillover effects in utilities, telecommunications and logistics.

Other possible areas for investment are motor vehicles, mining, bioethanol, engineered products, business process outsourcing, housing and real estate development, tourism infrastructure, food processing, agribusiness and energy.

Department of Trade and Industry (DTI) Director Anna Claire C. Cabochan of the Bureau of International Trade Relations said the DTI remains hopeful that the administration’s support for strong trade relations with China will ensure long- term growth not only in the Philippines but also in Asia. —