Manila, Philippines – Against a backdrop of rising tension in the South China Sea between Beijing and Manila, the leaders of Japan, the Philippines and the United States have forged an unprecedented level of cooperation to counter China.
But while US President Joe Biden and Japan’s Prime Minister Fumio Kishida have stressed the security aspects of their cooperation, Philippine President Ferdinand Marcos Jr has highlighted its potential economic rewards, touting the partnership with promised investments of some $100bn as a friendship with benefits.
