US President Joe Biden once said that “America is the beacon of the world.” With the US presidential elections only four days away, Senate Foreign Relations chair Imee Marcos warns that the Philippine should “prepare for the impact of the US elections on the Philippines and the world.
With nearly 4.5 million Filipino Americans living in the United States, including both U.S. citizens and residents of Filipino origin, Senator Marcos emphasized the need for a peaceful and orderly electoral process.
“The political and economic stability of the U.S. is integral to world economic stability,” highlighting the Philippines’ responsibility to protect its economy and citizens, she said in a statement.
She noted that any U.S. president will naturally prioritize American interests, underscoring the importance of vigilance in safeguarding the Philippines’ own interests.
Sharing Sen. Marcos’ concerns, an analysis done by the British Broadcasting Company (BBC) points out that with the US elections in virtual head heat, “the world now waits to see who takes charge of this self-styled beacon after Americans make their choice in next week’s presidential election.”
“Will Kamala Harris carry on in Biden’s footsteps with her conviction that in “these unsettled times, it is clear America cannot retreat”? Or will it be Donald Trump with his hope that “Americanism, not globalism” will lead the way?” the BBC report said.
Various US-based polls either show Harris with a slight lead or in a tie with Trump.
“The US election is hugely consequential not just for its citizens but for the whole world because of the pressing imperative of the climate and nature crisis,” Mary Robinson, chair of the Elders, a group of world leaders founded by Nelson Mandela, and former president of Ireland and UN High Commissioner for Human Rights, said in the BBC report
“Every fraction of a degree matters to avert the worst impacts of climate change and prevent a future where devastating hurricanes like Milton are the norm,” she added.
Sen. Marcos said that stricter U.S. immigration policies could lead to the deportation of thousands of undocumented Filipinos, while efforts to bring American companies back onshore may decrease direct investments and reduce BPO jobs in the country.
She also expressed concern that, even under the current U.S. “friend-shoring” policy, the Marcos administration has continued to miss out on major foreign investments.
Earlier this year, she said, American multinational consumer goods corporation Procter & Gamble announced plans to invest USD 100 million to expand its factory production in Vietnam. Microsoft, on the other hand, revealed plans for investments in artificial intelligence and cloud facilities worth USD 1.7 billion in Indonesia, and Google committed USD 1 billion to Thailand for building a data center and accelerating AI growth.
Sen. Marcos said the Philippines, however, missed out on these major foreign investments, raising concerns over the country’s competitiveness in attracting multinational corporations.
“Aside from boosting domestic demand, we must also attract investments into the country and revive our manufacturing sector. To do that, we must make our country attractive to investors by bringing down the power cost and making it easier for them to avail the incentives that we are currently offering,” Marcos added.
On the topic of defense, Marcos maintained that it is unclear whether the next U.S. president will continue the aggressive expansion of U.S. military presence in the Philippines and maintain the current level of defense funding assistance.
According to Senator Marcos, given this uncertainty, the government should fully implement the Self-Reliant Defense Posture Revitalization Act as soon as possible for the country to be capable of fending for itself.
