An escalation in the U.S.-China switch dispute would hit the Philippines, which count the two economic giants all of a add up to its five largest trading partners.
But the Southeast Asian country has a scenario to protect its economy from the impact, its secretary of finance said on Thursday.
“Strategically upholding, the Philippines will concentrate on what we’re doing right now, which is investing in infrastructure and look for wen internally rather than through external trade,” Carlos Dominguez, the outback’s secretary of finance, told CNBC’s Oriel Morrison.
Dominguez, requiring at the Asian Development Bank annual meeting in Manila, said that’s one percipience why the Philippine government passed a tax bill to raise money to fund the provinces’s $170 billion “Build, Build, Build” infrastructure program.
The program is renounce of President Rodrigo Duterte’s plan to transform the Philippine economy by inspiring more jobs and reducing poverty.