NextGen Day

President Ferdinand R. Marcos Jr. stated on Monday that the Asia-Pacific region’s countries are eager to forge their own paths to prosperity without adopting the “Cold War” mentality.

The statement was made by Marcos, who stated that the region’s tremendous geopolitical rivalry is putting “strong” pressure on countries in the Asia-Pacific to choose a side.

Despite this, Marcos stated that the member nations of the Asia-Pacific Economic Cooperation (APEC) and the Association of Southeast Asian Nations (ASEAN) are devoted to the idea of doing away with the Cold War mentality.

He mentioned this during a luncheon organized by the Philippine economic team in Davos, Switzerland, for him and chief executive officers from the Philippines. “The forces of us going back to that Cold War type of scenario where you have to choose one side or the other is powerful,” he said.

Despite all of the tension, Marcos said, “I think we are resolved as a group in ASEAN and in the Indo-Pacific, those around the Indo-Pacific, to remain away from that.”

The struggle that erupted between the United States and the Soviet Union, as well as their respective allies, almost immediately following World War II, is known as the Cold War.

According to Marcos, the Asia-Pacific region is committed to shaping its own future independent of any one nation.

“And simply because we are anchored in the notion that the future of the Indo-Pacific, and the future of Asia-Pacific, for example, cannot be decided by anyone other than the countries of Asia-Pacific, this immediately disassociates us from the notion that you must choose; we choose our friends and we choose our neighbors, and that’s the decision that we will make, “said Marcos.

Despite certain setbacks, the world’s economies, according to Marcos, are firmly oriented toward globalization.

According to Marcos, there are currently “a few significant potholes in the road,” and there are trends for countries to move “toward nationalism, towards closing borders, towards protectionism.”

“I believe that the trend will begin after things have stabilized, once nations like the Philippines have put in place the parts of policy and legislation required to be able to adapt to what is the new coming economy, once those elements are in place, I believe that globalization will begin. We’ll start by going back to the globalization trend. I believe it to be inevitable “said he.

‘Very strong’ commercial ties

Marcos stated that current issues like the Russia-Ukraine conflict and the coronavirus disease 2019 (Covid-19) pandemic have a negative effect on the course of the planet.

Marcos asserted that “extremely strong” economic linkages between the world’s economies are “essential to riches for any country” in order to overcome global issues.

Without very strong commercial ties, not just with one or two other nations but also with the rest of the world, he claimed, “No country ever became prosperous.”

Given that the Covid-19 outbreak forced the nation to get back to its fundamentals, the Philippines, according to Marcos, wants to strengthen its economy.

“I’ll use the example of the Philippines. We were brought back to our fundamentals during the pandemic, so in order to be able to weather future shocks like the pandemic and events in Ukraine, we must develop our own local economy “added Marcos.

“And I’ve always made sure to keep reminding people that the government cannot solve this problem on its own. And the alliances we will need, solid cooperation with the private sector, is a key component and the most crucial component for that to succeed, and your presence here and in the past, has been so supportive, “Added he.

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