China slowdown: Global impact

Little impact for Philippine economy, maybe even some gains

The Philippines exported US$4.09 billion worth of goods, mostly electronic products, to China last year. But that accounted for just 3.2 per cent of its gross domestic product.
The Philippines exported US$4.09 billion worth of goods, mostly electronic products, to China last year. But that accounted for just 3.2 per cent of its gross domestic product.PHOTO: REUTERS

China's slowdown will not have much of an impact on the "relatively closed" Philippine economy, unless it spooks investors to retreat en masse from Asia.

"The biggest impact could be through contagion," London-based research firm Capital Economics said last week.

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A version of this article appeared in the print edition of The Straits Times on January 29, 2019, with the headline 'Little impact, maybe even some gains'. Print Edition | Subscribe