The ANC Brief: Self-restraint in the disputed waters

ABS-CBN News

Posted at Nov 04 2019 04:00 AM

Trade and maritime issues dominate the ASEAN Summit in Thailand. Here are the big stories making the headlines on ANC today:

Trade woes
It's the last day of the ASEAN Summit in Thailand. Reports said the signing of the Regional Comprehensive Economic Partnership (RCEP), which some have called the world’s largest trade pact that includes ASEAN countries, has been pushed back to 2020. China has been backing the pact and needs it more now to soften the impact of its trade war with the U.S.

Blowing it out of proportion
President Duterte has called for “self-restraint” among parties in the South China Sea dispute. Many have interpreted this as the president speaking for Beijing. Meanwhile, Beijing said they are ready to work with ASEAN on a code of conduct in the South China Sea. Defense Sec. Delfin Lorenzana told China to respect maritime laws after a Chinese warship stopped a Liberian ship with an all-Filipino crew from sailing near Scarborough Shoal. But he also said the incident should not be blown out of proportion.

Political gain
The death toll in the series of quakes in Mindanao has reached 28 as of this writing. Residents are begging for food and aid from the roadside. And officials are rushing aid for the affected areas. The Social Welfare Department said relief efforts are adequate. Watch out for politicians out to exploit the situation for their political gain.

World’s biggest
Saudi Aramco, which has been called as the world’s most profitable company, is set to launch its initial public offering (IPO). The IPO has been called the world’s biggest and is bound to affect the PSE and global markets.

Food fusion
Chef JP Anglo brought inasal, binakol, and a boodle fight to the bastion of Spanish cuisine. The Ilonggo chef recounts to ANCX his singular experience showcasing Filipino food and culture in front of the world’s top chefs at this year’s San Sebastian Gastronomika.