As we all know, the most famous fruit in the Philippines is the local banana. Although the price of bananas in the Philippines is relatively expensive, the quality is still very good. In the past, many Chinese people were willing to buy bananas. However, recently, due to special reasons, China reduced or even stopped importing bananas from the Philippines for the sake of national food safety, which made Filipinos want to cry.
Originally thought that China would be vacant in the banana market, but what the Philippines didn't expect was that the sanctions were still being strengthened. China has announced that it has signed a trade agreement with Cambodia. According to statistics, Cambodia has exported bananas147,800 tons to China, an increase of 150% compared with last year. This shows how close the trade between the two countries is.
Serious impact
What makes the Philippines feel even worse is that China may import bananas from Cambodia frequently in the future, which is undoubtedly a "major blow" to Philippine bananas. Many foreign media are even more blunt: this is the last straw to crush the Philippines, which really makes Filipinos feel helpless, but there is nothing they can do. It has to be said that the Philippine economy will be seriously affected in a special period when it loses the China market.
There may be a "cliff-like" decline, and the Philippines can only ease its domestic economic pressure in other ways to avoid being "crushed" by this special period. It can be seen that China plays an important role in the international market now, and many countries hope to establish friendly trade relations with China. After all, China's market is too huge, which is a "cake" for every country and can effectively improve the domestic economy.