Tsinoy entrepreneurs: It's business as usual after sea ruling

Business as usual.

 

Filipinos of Chinese descent who own businesses in the country said the arbitral ruling on the South China Sea row would not affect their operations as they expressed hopes that the issue would be resolved peacefully.

 

Entrepreneurs interviewed by The STAR also said they are one with the nation’s legal victory because they consider themselves as Filipinos.

 

“I don’t see any effect of this (ruling) on our business yet. Despite being Chinese by blood, we were born and we live here for a long time already. We are claiming that we are already Filipinos,” said Jennifer Chan, owner of JCS Integrated Building Resources Corp.

 

“I agree with the ruling of the international court…If you ask me, we’ve waited so long for that decision,” she added. 

 

Peter Tiu, a stock broker, said the historic ruling would have no apparent impact on his business.

 

"It doesn't affect (the business) at all, unless it escalates to war" Tiu said. 

 

On Tuesday, the Hague-based Permanent Court of Arbitration ruled that China’s claim of historic rights in about 90 percent of the resource-rich South China Sea has no legal basis.

 

The extent of China’s sweeping maritime claim is illustrated by the so-called nine-dash line, which overlaps with the claims of the Philippines, Vietnam, Malaysia, Brunei and Taiwan.

 

In its landmark decision, the arbitral court awarded the Philippines sovereign rights over the Panganiban (Mischief) Reef, Ayungin (Second Thomas) Shoal, and Recto (Reed) Bank. It did not award sovereign rights to the Philippines over the Panatag (Scarborough) Shoal off Zambales but declared it a traditional fishing ground for several countries.

 

According to the court, China’s construction of artificial islands in disputed areas was a violation of the Philippines’ sovereign rights. The reclamation also aggravated the territorial row and caused “irreparable” harm to the marine environment, the tribunal added.

 

The Philippine government, which challenged the legality of China’s expansive territorial claim in 2013, has welcomed the ruling and is now studying its next move. China dismissed the decision as “null and void” and maintained that it would not diminish its territorial sovereignty in the South China Sea.  

 

 

Paulo Rueda, a home-based businessman, said businesses would be the first to be affected if the tensions in the South China Sea escalates into a war.

 

He believes the Panatag Shoal, which is located 124 nautical miles from the nearest point in Zambales, would be a factor in the economic growth of the country because of its natural resources.

 

“We will have more sources of marine resources. We know that Scarborough Shoal is rich in different kinds of maritime resources,” Rueda said.

 

Jonathan Yu, owner of Apollo Tires Quezon Ave., said he is happy with the decision of the tribunal and believes that other traders feel the same.

 

“I believe all countries that have vessels passing through the area are glad of the result,” Yu said.

 

He said the ruling is “purely political” and would not have a direct effect on his business.

 

An owner of an advertising firm who refused to be named, believes that China has reasons for rejecting the ruling.

 

“That ruling was expected. So was the reaction of China. Are they in favor? Cannot be answered by a yes or no quickly. Fair? Yes. But why China is doing that is because there’s a reason,” the advertising firm owner said.

 

“China wants to be a world power and it believes that America is hindering that,” he added.

 

 

“The effect on business depends on the next move of the government. (President) Duterte had said that if the Philippines wins and China doesn’t want to budge, he is open to bilateral talks.”

 

The United States has vowed to remain neutral on the dispute but American officials have repeatedly criticized China’s aggressiveness in the South China Sea.

 

Some Chinese-Filipino entrepreneurs believe the Philippines and China should settle their differences diplomatically, noting that many raw materials and products are made in Beijing.

 

“There should be a middle ground,” said Lilian Tan, a shop owner in Binondo, Manila.

 

“Almost all of the things we use are from China so we have no choice,” said Roland Chua, a drug store owner in Manila.

 

Trader Keisuke Chan also welcomed the ruling but believes some important questions have to be answered.  

 

“I am in favor of the ruling. Even if I am Chinese, I was born in the Philippines and I’m already a Filipino citizen,” Chan said.  

 

“There are many resources there (in South China Sea) and supposedly that is the reason why China is also claiming the area…The question is do we have the capability to tap those resources so we can achieve economic development?”

 

“Is there an assurance that every Filipino will benefit?”