With the stroke of a pen, President Biden can seamlessly replace the history of retail when President Ferdinand Mark Jr. visits the White House this week. Talks on Capitol Hill are rife with hypotheses about the decoupling of Chinese industry, and U. S. stores continue to face increased pressure to diversify their home chains — to choose resources to source products from solid countries like the Philippines. In fact, there is a long history of positive relations between the United States and the Philippines and superior industry is a wish or a possibility.
In March 1942, General Douglas MacArthur was forced to leave his post at Fort Corregidor on Manila Bay. World War II was in its infancy and Japan was gaining ground. The general, much to his regret, had to leave the Philippines. His parting words are quoted and ring true about the U. S. presence. He was in the U. S. in the Philippines when he said, “I’ll be back. “
Following the retail industry between the two countries, history will tell you that prior to 2008, the Philippines had earned a large number of U. S. “shipping right” quotas. It has temporarily become a production powerhouse (especially in the garment industry). Unfortunately, the industry’s immediate expansion faded very temporarily (and almost disappeared) between 2005 and 2008 when China ascended to the WTO (World Trade Organization). When the “right to ship” quota disappeared in the Philippines, the result was very similar to that observed by Ross Perot. “giant suction sound” and the country temporarily lost about 500,000 sectoral jobs due to structural substitution. During this period, former Philippine President Gloria Arroyo worked with the United States to replace the situation, but to no avail as her term time ran out.
In the years that followed, many US government officials (who were staunchly pro-Filipino) were also fired from Congress, with the Honorable Senator Daniel K. Inouye added, who tried to help. When Philippine President Rodrigo Duterte took office the position between the two countries shifted downward, however now under newly elected President Ferdinand Marcos Jr. a perfect renaissance of overall US dating. and the Philippines is close at hand.
U. S. stores U. S. officials will claim that they are too dependent on China and that they are working diligently to ease the burden. However, in each and every turn of the road, there is a new set of global disorders and decoupling (from a source as fair as China) is far from easy. Some brands have turned to Myanmar (Burma) as a supplier country, but this has not worked very well due to the military coup. products to Ethiopia, however, the U. S. government has not allowed it to do so. The U. S. military withdrew control from AGOA when civil war broke out and the effort was delayed. Some brands went to Haiti and this became somewhat problematic, and Nicaragua also proved to be unstable. it has blocked many of China’s exits, and the posture maintained in the Biden administration’s office has blocked (so far) new trade opportunities.
It’s not that one country owes anything to another country, however, historically, the Philippines has been another story. It remains, to this day, the only U. S. territory to be in the U. S. The U. S. does not have a preferential industry agreement with the United States. President Biden could simply replace all that, and the Americans would likely help the initiative, because the Philippines, once again, has taken the lead with recently admitted American access to 4 more military bases in the country under the Enhanced Defense Cooperation Agreement (a total of nine bases).
During World War II, more than 250,000 Filipinos fought side-by-side with the Americans in the war against Japan.
During the Korean War, more than 7,400 Filipinos fought side-by-side with U. S. infantrymen in the war against North Korea.
During the Vietnam War, more than 10,400 Filipinos provided medical and civilian assistance to U. S. troops.
Each of the aforementioned countries has benefited directly or from the global preferential industry with the United States. The Philippines has not done so.
Although EE. UU. no went ahead with the TPP, Japan was included in the original Trans-Pacific Partnership (now renamed CPTPP), but the Philippines was not included.
South Korea was granted an industrial preference agreement called KORUS, and Vietnam was included in the original TPP (now CPTPP).
The Philippines has not yet been part of an existing U. S. industrial preference program. The last formal industrial agreement, the Laurel-Langley Act, expired in 1974 (49 years ago).
China, for its part, has submitted the Philippines to participate in an industrial program called the Regional Comprehensive Economic Partnership (RCEP) and the Philippines recently voted to join the group. The RCEP industrial package covers 15 countries and approximately $29 trillion in GDP. It is the largest industrial agreement in the world (and the US). UU. no is a member).
When the presidents of two countries meet, it is difficult to wait for what the final results will be. There could be other points when the meeting takes place. However, many in the retail industry expect a higher industry, a loose industry. An agreement or even an industry sector agreement will be on the table. It is difficult to say what will happen, however, many expect the beginning of a positive end result.
Going back in time, General Douglas MacArthur fulfilled his promise to return to the Philippines, when he returned ashore with American troops, to the island of Leyte in October 1944.
He said: “People of the Philippines: I’m back.