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Nonetheless the sector only experienced a modest contribution to your place’s gross domestic product or service, producing up only 0.two for each cent with the Philippines’ GDP previous calendar year, even though the Philippines loses just about a hundred billion pesos per year by holding them in Procedure, defence analyst VK Parada informed This 7 days in Asia.
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The Philippines, Washington’s oldest treaty ally in Asia, has a sophisticated relationship with China, together with sizeable trade engagements and cooperation versus crime. But they have also experienced longstanding disputes, particularly in two fiercely contested shoals from the hectic South China Sea.
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