Berliner Boersenzeitung - Marcos Jr says Philippines to uphold South China Sea ruling

EUR -
AED 4.095102
AFN 72.480008
ALL 90.801688
AMD 402.807486
ANG 1.995737
AOA 1023.635334
ARS 1721.721299
AUD 1.61933
AWG 2.007127
AZN 1.900047
BAM 1.955836
BBD 2.250342
BDT 139.162586
BGN 1.948955
BHD 0.422108
BIF 3342.96213
BMD 1.115071
BND 1.431727
BOB 13.402249
BRL 6.138357
BSD 1.117321
BTN 104.873949
BWP 15.391286
BYN 3.345962
BYR 21855.38619
BZD 2.247142
CAD 1.573644
CDF 2586.964483
CHF 0.914162
CLF 0.027822
CLP 1094.980351
CNY 7.444774
CNH 7.438418
COP 3608.76707
CRC 506.709417
CUC 1.115071
CUP 26.815498
CVE 110.267049
CZK 24.346956
DJF 198.963698
DKK 7.480457
DOP 67.891262
DZD 151.940824
EGP 59.957114
ERN 16.726061
ETB 183.378708
FJD 2.526309
FKP 0.834974
GBP 0.834166
GEL 2.893653
GGP 0.834974
GHS 13.055243
GIP 0.834974
GMD 83.077063
GNF 9896.183924
GTQ 8.538159
GYD 234.234353
HKD 8.744429
HNL 30.029558
HRK 7.547925
HTG 146.432722
HUF 363.51345
IDR 20192.258205
ILS 3.552538
IMP 0.834974
INR 104.716854
IQD 1693.83148
IRR 2108992.359359
ISK 136.919964
JEP 0.834974
JMD 177.323296
JOD 0.790629
JPY 176.710877
KES 145.192698
KGS 97.510486
KHR 4552.084602
KMF 492.86165
KPW 1003.563608
KRW 1520.737678
KWD 0.346765
KYD 0.931217
KZT 500.809308
LAK 25136.46717
LBP 100053.859534
LKR 371.556906
LRD 189.94353
LSL 18.477643
LTL 3.292514
LVL 0.674496
LYD 7.150133
MAD 10.921803
MDL 19.971371
MGA 5077.094359
MKD 61.556144
MMK 2341.587311
MNT 4015.514918
MOP 9.019368
MRU 45.108838
MUR 52.442198
MVR 17.176258
MWK 1937.436008
MXN 20.766565
MYR 4.528864
MZN 71.257178
NAD 18.477643
NGN 1502.23485
NIO 41.120764
NOK 10.548462
NPR 167.798119
NZD 2.015128
OMR 0.428348
PAB 1.117421
PEN 3.848972
PGK 5.092095
PHP 70.369926
PKR 309.016043
PLN 4.399568
PYG 6984.129802
QAR 4.084276
RON 5.343646
RSD 117.622186
RUB 91.352798
RWF 1649.13065
SAR 4.188587
SBD 8.974739
SCR 15.358485
SDG 670.719139
SEK 11.033072
SGD 1.430306
SHP 0.835103
SLE 25.591287
SLL 23382.48045
SOS 638.511867
SRD 41.908265
STD 23079.712667
STN 24.500455
SVC 9.776182
SYP 14498.149201
SZL 18.471343
THB 37.411034
TJS 10.307092
TMT 3.902748
TND 3.343362
TOP 2.684822
TRY 55.9111
TTD 7.577141
TWD 36.546782
TZS 2952.454872
UAH 50.616941
UGX 4570.084937
USD 1.115071
UYU 44.950835
UZS 13332.247784
VES 999.456181
VND 28526.296796
VUV 132.393741
WST 3.108622
XAF 655.957
XAG 0.021465
XAU 0.000274244363
XCD 3.013535
XCG 2.013637
XDR 0.788413
XOF 655.957
XPF 119.331742
YER 263.853652
ZAR 18.420333
ZMK 10036.978597
ZMW 22.703422
ZWL 359.052318
SSP 6406.340367
MXV 2.33632
  • CMSD

    -0.1200

    19.81

    -0.61%

  • JRI

    0.0000

    10.77

    0%

  • BCC

    -1.8200

    74.15

    -2.45%

  • CMSC

    -0.2228

    19.53

    -1.14%

  • BCE

    0.2000

    20.34

    +0.98%

  • RIO

    0.0100

    94.17

    +0.01%

  • AZN

    -2.7400

    161.47

    -1.7%

  • GSK

    -1.1800

    48.17

    -2.45%

  • RBGPF

    0.0000

    65

    0%

  • NGG

    0.8800

    75.82

    +1.16%

  • RYCEF

    -0.7300

    19.08

    -3.83%

  • BTI

    -0.4500

    54.4

    -0.83%

  • BP

    0.4700

    43.99

    +1.07%

  • RELX

    -0.0600

    33.18

    -0.18%

  • VOD

    -0.1800

    16.15

    -1.11%

Marcos Jr says Philippines to uphold South China Sea ruling
Marcos Jr says Philippines to uphold South China Sea ruling / Photo: TED ALJIBE - AFP

Marcos Jr says Philippines to uphold South China Sea ruling

Philippine president-elect Ferdinand Marcos Jr said Thursday he would uphold an international ruling against Beijing over the disputed South China Sea, insisting he would not let China trample on Manila's maritime rights.

Text size:

China claims almost all of the resource-rich waterway, through which trillions of dollars in trade passes annually, with competing claims from the Philippines, Brunei, Malaysia, Taiwan and Vietnam.

Beijing has ignored a 2016 decision by The Hague-based Permanent Court of Arbitration that declared its historical claim to be without basis.

Outgoing President Rodrigo Duterte fostered warmer ties with his more powerful neighbour by setting aside the ruling in exchange for promises of trade and investment, which critics say have not materialised.

In his strongest comments yet on the longstanding source of tensions between the two nations, Marcos Jr said he would not "allow a single millimetre of our maritime coastal rights to be trampled upon".

"We have a very important ruling in our favour and we will use it to continue to assert our territorial rights. It is not a claim. It is already our territorial right," he told selected local media.

"We're talking about China. We talk to China consistently with a firm voice."

But he added: "We cannot go to war with them. That's the last thing we need right now."

Chinese foreign ministry spokesman Wang Wenbin said Beijing's position on the international ruling had not changed.

"China is willing to continue communication and dialogue with the Philippines to appropriately handle differences, and together uphold the peace and stability of the South China Sea region," Wang said.

- 'Friends with everyone' -

Marcos Jr, popularly known as Bongbong, secured more than half of the votes in the May 9 election to win the presidency by a wide margin and cap a remarkable comeback for his family.

His father and namesake ruled the Philippines for 20 years, presiding over widespread corruption and human rights abuses before he was ousted in 1986.

Marcos Jr formally takes office on June 30.

He and his running mate Sara Duterte, who also won the vice presidential race in a landslide, have embraced key policies of the elder Duterte.

But Marcos Jr signalled that on foreign policy he would not adopt the "slightly unorthodox approach" of Duterte, who rattled diplomats with his firebrand rhetoric and mercurial nature.

The president-elect indicated he would seek to strike a balance between China and the United States, which are vying to have the closest ties with his administration.

"We are a small player amongst very large giants in geopolitics. We have to ply our own way," said Marcos Jr.

"I do not subscribe to the old thinking of the Cold War where we had this spheres of influence where you're under the Soviet Union or you're under the United States," he said.

"I think that we have to find an independent foreign policy where we are friends with everyone. It's the only way."

The United States has a complex relationship with the Philippines -- and the Marcos family.

After ruling the former US colony for two decades with the support of Washington, which saw him as a Cold War ally, Marcos senior went into exile in Hawaii in the face of mass protests and with the nudging of the United States in 1986.

As regional tensions remain high, Washington is keen to preserve its security alliance with Manila that includes a mutual defence treaty and permission for the US military to store defence equipment and supplies on several Philippine bases.

The South China Sea was a key obstacle in Manila's ties with Beijing and needed to be resolved, said Chester Cabalza of the Manila-based think tank International Development and Security Cooperation.

If Marcos Jr and Chinese President Xi Jinping do not engage on the issue, "Beijing will have an upper hand in terms of our strategic relations with China", he said.

(Y.Berger--BBZ)