Philippines turns back on US and pivots to Asia

‘The Philippines is looking east for investment rather than traditional ally the US. Both Tokyo and Beijing are interested in investing in Mindanao, the second largest island in the Philippines, according to Philippine Finance Secretary Carlos Dominguez.
Mindanao is known for its copper, gold, iron, aluminum, as well as natural gas and oil deposits. According to WikiLeaks, the island’s untapped mineral resources may be worth up to $1 trillion.
From food to minerals, “the entire gamut of resources is open to development,” Dominguez said during a CNBC interview on Thursday.
His comments follow President Rodrigo Duterte’s visits to Japan and China to bolster Manila’s ties with its Asian neighbors and shift away from the United States.’
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