Essayer OR - Gratuit

Flanking tactics

Business World Philippines

|

July 10, 2025

VISUM WILFREDO G. REYES

- WILFREDO G. REYES

Flanking tactics

Don't look now, but if we're not careful, we could find ourselves legally outflanked over the West Philippine Sea.

In a move widely reported abroad on May 30 but which merited just minor, bottom-page treatment in the “World” pages of two local dailies, China Foreign Minister Wang Yi “and high-level representatives from 33 countries” signed a convention setting up an intergovernmental mediation body in Hong Kong. An article in the China Business Law Journal (CBLJ) said that the newly formed International Organization for Mediation (IOMed) that was initiated by Beijing “is modeled on the International Court of Justice and the Permanent Court of Arbitration (PCA) at The Hague, Netherlands.”

It is Beijing’s latest move in its bid to gradually change an international order long dominated by the West (wouldn’t you do the same if you were the only other political-military-economic superpower?), but one that could soon impact us directly.

IOMed’s website does not yet provide a complete list of signatories, although one article cited China and “31 other ‘like-minded’ countries” like Pakistan, Papua New Guinea, and Venezuela’, while the CBLJ piece cited Algeria, Cuba, and Indonesia. Besides these countries, others that in 2022 signed the joint statement on IOMed’s “future establishment” also included Belarus, Cambodia, Cameroon, Côte d'Ivoire, Djibouti, Equatorial Guinea, Ethiopia, Gabon, Lao PDR, Madagascar, Sri Lanka, Sudan, Thailand, and Zimbabwe.

The CBLJ article quoted Tao Chun-ming, former secretary-general of the respected Hong Kong International Arbitration Center (HKIAC), as telling media that he expected the IOMed to “resolve disputes in Asia and Africa at the beginning of operations” by early next year.

HURTING

PLUS D'HISTOIRES DE Business World Philippines

Business World Philippines

PCC clears NTT UD Asia stake in Cebu Landmasters’ Luzon arm

THE PHILIPPINE Competition Commission (PCC) has cleared Singapore-based real estate firm NTT UD Asia Pte. Ltd. to acquire a 40% stake in Cebu Landmasters, Inc’s (CLD Luzon subsidiary, CLI Luzon Ventures, allowing the Visayas-Mindanao developer to proceed with its planned residential and mixed-use expansions in Luzon.

time to read

1 min

January 14, 2026

Business World Philippines

Solar Philippines faces P24-B penalties over terminated RE contracts

SOLAR PHILIPPINES Power Project Holdings, Inc. is facing P24 billion in fines for its failure to deliver nearly 12,000 megawatts (MW) of renewable energy (RE) over the last two years, according to the Department of Energy (DoE).

time to read

2 mins

January 14, 2026

Business World Philippines

FDI net inflows fall 40% in October

NET INFLOWS of foreign direct investments (FDI) into the Philippines plunged nearly 40% year on year in October, as foreigners’ net investments in debt instruments slumped.

time to read

3 mins

January 14, 2026

Business World Philippines

Philippines inks FTA with UAE

THE PHILIPPINES and the United Arab Emirates (UAE) signed on Tuesday a landmark free trade agreement (FTA) which is expected to boost Philippine exports to the Gulf state by more than 9.13%, expand market access, and create new opportunities for Filipino professionals and businesses.

time to read

1 mins

January 14, 2026

Business World Philippines

GSIS studies PSE proposal to revive stock investment loans

THE Government Service Insurance System (GSIS) said it is studying the Philippine Stock Exchange's (PSE) proposal for state-run pension funds to revive stock investment loans and other financial products, with a framework that emphasizes member protection and operational oversight.

time to read

1 mins

January 14, 2026

Business World Philippines

Business World Philippines

Philippines targets 4.3% of GDP for infrastructure spending this year

THE DEPARTMENT of Budget and Management (DBM) cut its infrastructure spending target to 4.3% of gross domestic product (GDP) this year from 5.1% previously, as a corruption scandal weighed on government spending and economic growth last year.

time to read

3 mins

January 14, 2026

Business World Philippines

Infra spending, consumption expected to stay weak — HSBC

THE ECONOMY may struggle to reach its potential this year as the flood control corruption scandal continues to dampen infrastructure spending, with corresponding spillover effects on consumption, HSBC Global Investment Research said.

time to read

2 mins

January 14, 2026

Business World Philippines

AC Health opens first St. Joseph Drug store in Metro Manila

AYALA HEALTHCARE Holdings, Inc. (AC Health) opened the first St. Joseph Drug branch at Healthway FEU-NRMF Medical Center in Quezon City, marking the chain’s entry into Metro Manila.

time to read

1 min

January 14, 2026

Business World Philippines

Business World Philippines

Tropang 5G eye early finals slot against embattled Bolts

QUALIFYING for the PBA Season 50 Philippine Cup finals as early as possible would offer extra time for the players to recover and recharge while waiting for their opponent.

time to read

2 mins

January 14, 2026

Business World Philippines

Former world number three Raonic hangs up his racket

CANADA'S former world number three Milos Raonic announced his retirement from tennis at the age of 35 on Sunday after winning eight ATP tour titles and more than $20 million in prize money over a decade and a half on the circuit.

time to read

1 min

January 14, 2026

Listen

Translate

Share

-
+

Change font size