OFW Filipino Heroes

Friday, June 24, 2011

Not only the Philippines and ASEAN but India now on Alert for China's Invasion to their waters

The Philippines recorded 7 times invasion of China in the Philippines waters within 5 months period in 2011. China insisted that they are committed for peace and security of the region but fired to the Filipino Fishermen in the shore few kilometers from Palawan and harassed Philippine oil exploration vessel in the province of Palawan, Philippines.

With the Mutual Defense Treaty with Philippines and USA signed in 1951, USA found obliged to protect the Philippines from any form of invasion which even the United States is already un-performing their duties to protect the Philippines after series of invasion of China in the Philippines waters.

Lately, USA pronounced their commitment to protect the Philippines and support in terms of weapon and armaments after the Philippines ask for help from the Washington power to effects the Mutual Defense treaty signed in 1951.

Chinese foreign policy analysts are rejecting Secretary of State Hillary Clinton’s pledge to support the Philippines, amid rising tensions over maritime territorial disputes involving China and other claimants in the South China Sea.

Qu Xing is the president of the China Institute of International Studies, which advises Beijing on foreign policy issues.

He used very strong language when asked about Secretary Clinton’s comments that the United States is committed to the Philippines by a mutual defense treaty.

Qu says he thinks the premise of Secretary Clinton’s statement is that China is going to invade the Philippines - a notion he calls “totally groundless.”

The Spratly Islands are the main focus of the territorial disputes in the South China Sea.  China shares claims over the potentially oil rich islands with Brunei, Malaysia, the Philippines, Taiwan and Vietnam.

The Chinese analyst says Beijing is committed to a peaceful resolution of the overlapping claims, but only on a bilateral basis.  He says the U.S. actions are “not conducive” to dialogue and negotiations.

The Spratlys also lie near important shipping routes, and Washington has expressed concern that U.S. ships will no longer be able to freely navigate in the South China Sea.

Former Chinese Ambassador to Britain Ma Zhengang also advises Beijing on foreign policy matters.  He said he does not see any problem with free navigation in the area and accuses the United States of linking two different issues.

Ma said he has read articles alleging that the United States is using the South China Sea issue as an excuse to return to Asia.  He added that other countries involved in the territorial disputes are hoping that with Washington’s involvement, they can have more strength in confronting China.

He compared current events to Vietnam’s reassertion of its Spratly claims in the 1970’s.  He said Hanoi at the time had the backing of the former Soviet Union, and so acted “tougher” against China. 

He said China has been committed to safeguarding peace and stability in the Asia-Pacific region, and has, up until now, constrained its actions there.

India is on alert for Possible China’s invasion to their water

Meanwhile, how China handles the Spratly issue also has implications for the country’s other territorial disputes. Amer Latif, a visiting fellow at the Center for Strategic and International Studies in Washington, says officials in India are closely watching developments in the South China Sea.

“I think that India is concerned Chinese behavior in the South China Sea may be an indicator of how China will act towards it in the settlement of Sino-Indian border disputes," Latif said. "If we see China is flouting international norms and is antagonizing its neighbors, I think that would be a bad sign for New Delhi in how China might act towards it in its bilateral border discussions.”

China and India fought a brief, but bitter, border war in 1962.  The two countries are in talks to resolve the issue, but a solution appears far off amidst reports that both countries have recently increased military presence on both sides of the border.

 

the Philippine Peso, Bonds Climb After Fitch Raises Debt Rating

Fitch Raises Debt Rating of the Philippines - Philippine Peso & Bonds Climb up!

The Philippine peso rose the most this week since April and bonds rallied after Fitch Ratings raised the nation’s debt rating to one level below investment grade yesterday.

Three-year notes had their best day in more than two months after Fitch lifted the long-term foreign-currency rating to BB+ from BB, citing the government’s efforts to reduce its budget deficit. The Philippines reported a budget surplus of 61 million pesos ($1.4 million) in the first four months of this year, compared with a deficit of 131.80 billion pesos a year earlier.

“The upgrade was another show of confidence in the administration’s concerted efforts to set the public books in order,” said Radhika Rao, an economist at Forecast Pte in Singapore. “The rally in bonds can be sustained if the fiscal numbers also reflect the trend of smaller deficits.”

The peso strengthened 0.6 percent this week, the most since the five days ended April 29, to 43.417 per dollar at the 4 p.m. close of trading, according to Tullett Prebon Plc. The currency advanced 0.2 percent today.

Fitch’s upgrade puts the Philippines on a par with Indonesia and follows a similar move by Moody’s Investors Service on June 15. The Philippines will strive to achieve an investment rating “at the soonest possible time,” Finance Secretary Cesar Purisima said yesterday.

The yield on the 6.25 percent notes due January 2014 fell 18 basis points, or 0.18 percentage point, to 4.52 percent, the lowest level since May 2, according to Tradition Financial Services. Today’s drop is the biggest since April 13, completing the bond’s third weekly decline in yields.

The government will consider selling bonds aimed at overseas Filipinos as it did last year, Purisima said yesterday, citing demand from nationals abroad. The Philippines will be “opportunistic” in selling debt, he said.

To contact the reporter for this story: Clarissa Batino in Manila at cbatino@bloomberg.net.

To contact the editor responsible for this story: Sandy Hendry at shendry@bloomberg.net

 

LEARN FOREX TRADING AND GET RICH

Investment Recommendation: Bitcoin Investments

Live trading with Bitcoin through ETORO Trading platform would allow you to grow your $100 to $1,000 Dollars or more in just a day. Just learn how to trade and enjoy the windfall of profits. Take note, Bitcoin is more expensive than Gold now.


Where to buy Bitcoins?

For Philippine customers: You could buy Bitcoin Online at Coins.ph
For outside the Philippines customers  may buy Bitcoins online at Coinbase.com