Chinese President to Visit Philippines as China Seeks Allies

November 21, 2018 Share Print 0

China and the Philippines inked 29 deals — including a joint oil and gas exploration pact — when Chinese President Xi Jinping was in Manila for a state visit which ended Wednesday.

While forging bilateral ties may have been one of the reasons for the two-day visit, another motivation could be an attempt to “woo” the Asian country away from Washington and to consolidate China’s influence in the region, Stephen Nagy, senior associate professor at the International Christian University in Tokyo told CNBC.

Xi is the first Chinese leader to visit Manila in 13 years. After meeting Philippine President Rodrigo Duterte for talks, Xi described the visit as a “milestone” in the countries’ relations.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.