Chinese official development assistance loan facilities have high interest rates compared to those offered by other countries such as Japan. These days it looks like several big-ticket projects funded by Chinese ODA are being dropped by the Philippines. Other countries including the Philippines have suffered from the same Chinese economic coercion over the past years. The arbitration court in had ruled in 2016 that the Philippines has sovereign rights over Ayungin, Panganiban and Recto Bank. That ruling has been recognized by the countries that have been expressing support for the Philippines in the dispute.

Source: Philippine Star October 27, 2023 05:04 UTC