Observers: US Investments in Philippines Seen Easing Reliance on China
Taipei, Taiwan — During a trade mission visit to Manila this week, U.S. Commerce Secretary Gina Raimondo announced plans to invest more than $1 billion in the Philippines’ tech sector and help double the number of semiconductor factories in the country. Observers say the pledge and visit highlight the Southeast Asian nation’s growing importance to Washington and will also help reduce the Philippine economy’s reliance on China. “U.S. companies have realized that our chip supply chain is way too concentrated in just a few countries in the world,” Raimondo said in …