The country’s loan agreements with China for its infrastructure projects will not entail any collateral, according to the head of the Duterte administration’s economic team, allaying fears the Philippines will similarly fall into the mainland’s debt trap like other countries” (“DOF: No collateral for China loans,” 5/15/18).
We must think twice. Think of the Chinese government’s invasion of Philippine territories in the Spratlys and West Philippine Sea.
There is no need for us to see an official document marked “collateral” signed by officials concerned.
In the same issue of the Inquirer, and previous issues as well, we read updates on the aggressive and ominous Chinese military buildup going on out there on said Philippine territories.
No collateral? Filipino citizens, think twice! No need to think a third or fourth time. Just twice.
MARISSA PIRAMIDE, OSB, Benedictine Sisters of Tutzing, Manila Priory