The Philippines Department of Transportation has announced the full termination of major infrastructure projects under BRI in favour of competitors from the West and Japan.
According to the Philippine Senate, almost all of China’s important investment projects in the Philippines are currently under doubt.
The result has been a new low point in the relationship between the Philippines and China.
This is a sharp contrast to the six years of cordial relations during the pro-Beijing presidency of Rodrigo Duterte.
Bongbong Marcos is the current President of the Philippines.
Shortly after a recent collision between Chinese and Philippine sea vessels, the Philippine Transportation Secretary announced the scrapping of $4.9 billion worth of Chinese infrastructure projects.
These projects included two railway projects in Luzon and another in Mindanao.
The Philippines is now seeking more favourable deals from Japan, South Korea, the U.S., and the European Union.
China’s diplomatic approach in the Philippines under President Duterte was described as “pledge trap” diplomacy.
China promised to make significant investments in return for South China Sea concessions.
Nevertheless, the great bulk of $24 billion worth of infrastructure projects never came to exist.
Belt & Road Initiative (BRI) is a global infrastructure development strategy.
It was adopted by the Chinese government in 2013 to invest in over 150 countries and international organizations.
