President Rodrigo Duterte declared that he would continue to shift the Philippines toward China despite Donald Trump’s victory. At an briefing in Davao, Duterte said that while the U.S. would remain a friend and ally, the Philippines’ foreign policy was now geared toward China and the Association of Southeast Asian Nations. Source Bloomberg
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The increasingly rapid adoption of industrial robots on Chinese production lines is set to hasten the fall in manufacturing employment. Among companies that intend to purchase robots in the coming 12 months, 72.7% said this would mean job losses, according to a Financial Time. Source: CHina Economic Review
China for the first time became Germany’s most important trading partner in 2016, overtaking the United States, which fell back to third place behind France, data showed on Friday. The development is likely to be welcomed by the German government. Source: Reuters