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→Relations with the United States
Over the last two decades, the relatively closed Philippine economy has been opened significantly by foreign exchange deregulation, foreign investment and banking liberalization, tariff and market barrier reduction, and foreign entry into the retail trade sector. The Electric Power Industry Reform Act of 2001 opened opportunities for U.S. firms to participate in the power industry in the Philippines. Information and communications technologies, backroom operations such as call centers, and regional facilities or shared-service centers are likewise leading investment opportunities.
Over the last two decades, the relatively closed Philippine economy has been opened significantly by foreign exchange deregulation, foreign investment and banking liberalization, tariff and market barrier reduction, and foreign entry into the retail trade sector. The Electric Power Industry Reform Act of 2001 opened opportunities for U.S. firms to participate in the power industry in the Philippines. Information and communications technologies, backroom operations such as call centers, and regional facilities or shared-service centers are likewise leading investment opportunities.
===Relations with the people's Republic of China===
====Scarborough Shoal====
The [[Obama administration]] in 2012 brokered an agreement between the People's Republic of China and the Philippines for China to withdraw their ships from Scarborough Shoal which lies within the Philippines exclusive economic zone (EEZ). Only [[Manila]] complied with the agreement. Beijing has been in firm control of Scarborough Shoal ever since. The Obama administration, despite the brazen Chinese seizure, decided not to enforce the agreement it had arranged.<ref>https://www.gatestoneinstitute.org/17215/china-whitsun-reef</ref>
==Economy==
==Economy==