Chinese Ambassador Liu Jianchao said that China was looking to invest in the renewable energy sector of the Philippines. Primarily in geothermal, wind and solar energy. They were looking for joint venture opportunities in the emerging renewable energy industry.
Aside from that, he also said that they were working on continued investment in the country’s infrastructure, mining, farming, telecommunication and education sectors as well.
Its not surprising considering that their economy was so dependent on exports and was mostly manufacturing based, once the US and other countries entered into a recession, demand for those consumer goods from China dropped. So it would be logical to invest all that cash they have in non manufacturing related industries. Most of those items listed above are sectors that will be secured by governments or businesses awash in cash. So they’ll have no problem getting their money back.
One issue about telecommunications though is the threat of spying. China has a track record of engaging the US in Cold War era style cyber wars, which involve hacking into government networks. So having a country with an sizeable investment in your communications sector is indeed scary. Considering that history has taught us that communication is the first thing that an aggressor tries to control during times of war.
[source]
Category: Solar, Wind, Clean Energy, Geothermal, Financing
