The Philippines in late October became the latest country to back out of China's Belt and Road Initiative , with Transport Minister Jaime Bautista telling reporters the sudden withdrawal came after Beijing did not respond to funding requests on railway projects.
"The decision to withdraw from these projects can be assumed to be motivated by issues centered on their sustainability and the mounting concerns brought by Beijing's unwillingness to act like a responsible neighbor," he said.Tensions have recently been mounting between the Philippines and China in the South China Sea, particularly near the Second Thomas Shoal, or Ayungin Shoal, which are all part of the contested Spratly Islands.
Tensions have grown since the election of President Ferdinand Marcos Jr, who has taken a less China-friendly stance than his predecessor, Rodrigo Duterte, and has nudged closer to the US on strategic policy. "The last resupply occurred on October 21, so there will be another in the coming weeks. These have been the regular flashpoints, and China will need to decide whether it wants to continue this level of harassment. The question is whether China is willing to take a step back," Powell said.
"As things stand, Chinese foreign direct investments are not that substantial. The stoppage of BRI investments will not substantially affect investments in the Philippines," Jan Carlo Punongbayan, a Filipino economist and assistant professor at the University of the Philippines School of Economics, told DW.
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