Wang said that he hoped the two sides can sign cooperation documents on the Belt and Road Initiative and Global Maritime Fulcrum at an early date and called for more efforts to promote big projects, such as the Jakarta-Bandung highspeed railway and the Regional Comprehensive Economic Corridor.
Indonesian president Joko “Jokowi” Widodo first came into office in 2014 promising to turn the country into the “Global Maritime Fulcrum” (GMF)—a force between the Indian and Pacific Oceans. Consisting of both domestic and foreign policy elements, many had hoped that the GMF would serve as Indonesia’s first actionable grand strategy in decades.
Well finally they sign the agreement to build bridges in Mindanao. Yes China need to help Philippines with infrastructure development specially on the Mindanao island. I thought there is talk of building railway line in Mindanao as well
China, Philippines sign contract to build cross-sea bridge in Davao
China and the Philippines signed a contract on Thursday to build a cross-sea bridge in Davao City in southern Philippines, a flagship project under the country's "Build, Build, Build" program.
The Samal Island-Davao City bridge project, which will cost approximately 400 million U.S. dollars, is one of the key G-to-G cooperation projects between China and the Philippines, the Chinese Embassy to the Philippines said in a press release.
The project is a two-way four-lane 3.86-km bridge to connect the Island Garden City of Samal to Davao City across the Pakiputan Strait.
The main bridge is 1.62-km long and will be designed in a cable-stayed structure with the twin towers and double cable planes.
The construction duration is estimated to last 60 months. Once completed, the bridge will provide a transportation link between Metro Davao and Samal Island, reducing the transportation time and enhancing internal mobility and external linkage to support the economic and tourist growth potential of the local region.
It will also increase the economic activities and improve the livelihoods of the local people.
The Chinese government and the Philippine government will soon kick off the loan agreement negotiation of the project. The project is expected to break ground in the first half of 2021, the Chinese embassy said. (via Xinhua)
Prof. Michael Hudson elaborated the economic systems of Financial Capitalism vs. Industrial Capitalism, and why such development that you pointed out wouldn't possible back then or even nowadays. It's a very good reading from a very knowledgeable American expert and highly recommended.@Hendrik_2000 , @Crang,@ silentlurker,
Here's another one and the most significant, this Railway will connect Clark free zone with Subic free port, both former US bases. Now why didn't the US think of this before when they were leasing these bases. It will improve the economy in that region especially in manufacturing and tourism, instead they make the two adjacent town (Olongapo in Subic and San fernando in Clark) a R&R zone (prostitution and drugs)for its service men. Leaving behind countless lovechild and social problem as a result.
This Railway will lower production cost and improve logistic and is part of decongesting Manila , establishing central luzon as a regional growth center and a transportation hub. With these the political power will also shift away from Imperial Manila. Now its obvious what benefit this Railway will bring the question is why now, it's because of Duterte and also of China willingness to provide the loan. Past President always follow foreign institution (IMF and World Bank) recommendation and most of it is PRIVATIZATION of PUBLIC UTILITIES and GOV'T ASSET. In exchange for an onerous loan. now that's a definition of a DEBT TRAP.
7 hours ago — MANILA, Jan. 16 (Xinhua): China and the Philippines signed a contract on Saturday to build a railway on the main Luzon Island, the Chinese ...
@windsclouds2030Prof. Michael Hudson elaborated the economic systems of Financial Capitalism vs. Industrial Capitalism, and why such development that you pointed out wouldn't possible back then or even nowadays. It's a very good reading from a very knowledgeable American expert and highly recommended.