Philippine leader emphasizes economic ties on visit to China

BEIJING (AP) — Philippine President Ferdinand Marcos Jr. is pushing for closer economic ties on a visit to China that seeks to sidestep territorial disputes in the South China Sea. The countries have both been rocked by economic crises linked to the COVID-19 pandemic, but are looking to recharge investments in bridges and other projects, along with tourism and agriculture. The visit comes against the background of disputes over islands and waters in the strategic South China Sea, which Beijing claims virtually in its entirety. Accompanied by a large business delegation, Marcos has said he will seek to finalize key bilateral agreements during the visit. China accounts for 20% of the Philippines’ foreign trade and is also a major source of foreign direct investment.