Philippine businesses are calling for a quick resolution to the month-long stand-off with Chinese ships in the South China Sea, warning that a prolonged political impasse could hurt tourism and cost thousands of export-related jobs.
The warning followed signs that the confrontation was beginning to have an economic impact, with Chinese tour groups cancelling trips to the Philippines and shipments of Philippine bananas blocked from entering China for food safety reasons.
“We have more to lose than them”, Sergio Ortiz Luis, head of the Philippine Confederation of Exporters, told local television.
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