“We won’t just traipse to capable brother” claims Marcos Jr. on US Toughen towards China

Let's zoom in on the Philippines.President Ferdinand Marcos Junior says he's not seeking confrontation withChina, even as his country works harder to assert its territorial claims indisputed waters. He spoke to me exclusively at thepresidential palace here in Manila. The thread has grown, and since thethreat has grown, we must do more to defend our territory.And so maybe perhaps that's what that is.What we people people are seeing is that a more robust defense of our of ourterritorial rights as recognized by the international community throughinternational law, through the UN.

Clause.And we hew very close to that. We do not we do not the very that wehave not instigated any kind of conflict.We have not instigated any kind of confrontation.We are just trying to feed our people. The U.S.has weighed in. It constantly points to Article five ofthe Mutual Defense Agreement, which was signed in 1951.It now says that it now extends to all armed conflicts, armed attacks in all inany area of the South China Sea. In practice, what exactly does thatmean, that a incursion, for example,.

To occupy, which is already happened,but it is still trying to do to to keep itpeaceful. But you see, we are avoiding we avoid,as I said, we think about peace, the national interest.It is it does not serve any purpose to heightened tensions.To say, okay, I am invoking all the mutual defense treaty and I don't thinkanyone wants that unless. You've asked a very difficult questionhere. Unless.Unless the. The effects are such that it is thethreat.

It is it will become an existentialthreat to the country. Then I think it's very easy to say thatthat that would that would trigger the the mutual defense treaty, theagreement between the United States and the Philippines.How confident are you about U.S. support?How far do you think the US would go to support the Philippines?In the South Chinese. Well, thus far, we can say that theUnited States has been very, certainly very supportive in every inevery way. Andit has the United States has really.

Shown that it takes very seriously theseagreements that we have. And so but it is dangerous for one tothink in terms of when something goes wrong, we will run to Big Brother.That's not the way we treat it at all. We we we do this for ourselves.We do this because we feel that we have to do it.And it's not at the behest of the United States.Just to follow up on that. How confident are you the U.S.is willing to go to war with China over disputed reefs in the South China Sea?Oh, God. How far is the U.S.prepared to go?.

What are your top suggesting to you?Well, I really Iwould like to take the take a step back from the question is thatthat is precisely what we want to avoid. We want to do everything we possibly cantogether with our partners and allies, to avoid that situation.This is this is not this is not the poking the bear, as it were.We are trying to do quite the opposite. We are trying to keep things at the at amanageable level to continue the dialogues, whatever theyare at every level. And we have initiated many of thosedialogues at the we have dialogues at.

The sub ministerial level, at theministerial level, and at the executive level.And so I think that that's what we hope to continue becauseit would there are many volatilities in the area,in the region. Back in May, you talked about howPhilippine military bases will not be used for offensives against China.Do you still maintain that position? Yes, of course.Of course. We have no we have no interest inattacking anything or anyone. Oh, not at all.That is the furthest thing from our mind.

That.No, we would not we would not allow that unless we are at war.Perhaps. But we That's why this way.That's why we want to keep away from that situation as a as as much as we canfor four, four, four, four. And maintain that the main reason.It could you could describe is an uneasy peace but is peace nonetheless.You're sitting on one of the fastest growing countries in Asia.Is that sustainable? Can you achieve six and a half to sevenone half percent growth for the year, for instance?I think so.

I think.Well, much of that much of the policies that we that we've taken on are reallyto do to spur growth. That's part of the most that's the mostimportant part, because it is only growth that will pull us out of this,the morass that was left after the pandemic.Even in terms of interest, even in terms of debt ratios, even in terms ofunemployment, in terms of inflation, it really is growth.That seems to be the key. Is it sustainable if we continue downthis road, if we defend all of the things that we are doing?I believe it is.

I believe it is.If we are also agile in terms of responding to the shops that come up,come up from other from and from the outside.To put it that way. Shocks that we cannot control or canhave very little influence over, if any. So that's that will be the key.It's a six year term. Do you think you can get to 8% withinsix years that you are in office? Sure.Why not? You know, there's no we plan.We always plan for the ideal. We don't plan for a mediocre result.We plan for a very good result.

And as I said, we just have to adjustalong the way as we as we continue to to transform the economy.But, yes, I think it is I think it is doable.Central banks are currently in focus because of interest rates in thePhilippines. Rates are at, I think, 17 year highs.How much room is there for you to cut rates already?The BSP to cut rates, we're still battling inflation.Inflation is still our biggest problem. And when you when you separate coreinflation to inflation, that involves agri product, for example,you can see that the core inflation,.

We're doing rather well in terms ofcontrolling it. But again, these these shocks that keepcoming in, that's still not quite the time to cut rates because inflation isstill sticking more perhaps.We look at it almost every every week to see if it's time to do to bring down therates. We are not yet there and the peso at athree month high. Are you comfortable?I'm the person who and it's reverse because it's an indication of thestrength of the economy. There is a downside to it for thePhilippines because of our overseas.

Workers, where the dollar is worth alittle less than it normally would be. But I see it as an affirmation that theeconomy has grown stronger.

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