Chinese firms could gain footholds at both Subic and Clark in the Philippines

Chinese businesses are still in the running to take over a Subic Bay shipyard and could soon also control nearly 2 square miles of what was once America’s largest air base in the Philippines, according to local media reports.

Philippines Trade Secretary Ramon Lopez said the government would not, and could not, block Chinese offers to buy Subic Bay shipbuilder Hanjin Philippines, which has defaulted on $1.3 billion in loans, according to an April 25 Reuters news agency report.

From Stars and Stripes.

UPDATE: Compare and Contrast, people.

Trump administration forces China to sell the Port of Long Beach

"Manila Set To Block Chinese Bidders From Largest Shipyard, National Security Concerns Over Subic Bay Outweigh Warmer Bilateral Ties.

The Philippine government is set to exclude Chinese bidders from acquiring the country's largest shipyard, situated at the entrance to the highly sensitive South China Sea, amid concerns over Beijing's growing military presence in the region and its potential threat to national security.

The shipyard collapsed in January after South Korea’s Hanjin Heavy Industries and Construction and its Philippine unit defaulted on $1.3 billion in loans. A number of foreign bidders have declared their interest in acquiring the facility, including at least two from China.

Nikkei Asian Review has learned that Manila's Department of Trade and Industry has adopted the Philippine defense ministry's position that a Chinese takeover of the financially troubled shipyard could compromise national security, according to sources in the government.

Good!