THE Japanese national flag waves at the Bank of Japan building in Tokyo, Japan on March 18, 2024. — REUTERS/KIM KYUNG-HOON/FILE PHOTO
TOKYO — Japan’s Liberal Democratic Party (LDP) and the Japan Innovation Party have broadly agreed to form a coalition government, setting the stage for the country’s first female prime minister, Kyodo news agency reported on Sunday.
Sanae Takaichi, leader of the conservative LDP, and Hirofumi Yoshimura, head of the smaller right-leaning group known as Ishin, are set to sign an agreement sealing their alliance on Monday, Kyodo said.
Calls to the LDP and Ishin headquarters to seek comment went unanswered outside business hours.
ALLIANCE MAY BE SHAKIER THAN PREVIOUS COALITION Ishin’s co-head, Fumitake Fujita, raised expectations for a deal on Friday, saying the two parties had made “big progress” in coalition talks.
Ishin lawmakers will vote for Ms. Takaichi in an election to choose the prime minister in parliament on Tuesday, but the party does not plan to send ministers to Takaichi’s cabinet, at least initially, Kyodo said.
That would fall short of the full-fledged alliance the LDP maintained with the Komeito party until the junior partner quit the coalition this month, raising concern over the stability of the forthcoming government.
Ms. Takaichi’s path to succeed Prime Minister Shigeru Ishiba had seemed all but certain after she won the presidency of the long-ruling LDP early this month. But then Komeito quit their 26-year coalition, setting off a flurry of negotiations with rival parties to select the next premier.
In an effort to get Ishin on board, the LDP offered to keep working towards banning donations from companies and other organizations and exempting food items from Japan’s sales tax, Kyodo said.
Ishin has proposed eliminating the tax on food items for two years.
Ms. Takaichi, a fiscal dove, has called for higher spending and tax cuts to cushion consumers from rising inflation and has criticized the Bank of Japan’s decision to raise interest rates.
She favors revising Japan’s pacifist postwar constitution to recognize the role of its expanding military.
Ms. Takaichi is a regular visitor to the Yasukuni shrine honoring Japan’s war dead — including some executed war criminals — and is viewed by some Asian neighbors as a symbol of the nation’s past militarism. — Reuters
THE PHILIPPINES clinched its spot in next year’s AFC U17 Women’s Asian Cup in grand fashion, shutting out all three opponents to rule Group A of the Qualifiers in Dushanbe.
After a smashing 5-0 whitewash of Syria and a 2-0 blanking of host Tajikistan, the Young Filipinas continued their charge and roared past final opponent Malaysia, 4-0.
Luna Rivera (sixth minute), Chiara Mizzo (23rd), Aiselyn Sia (59th) gave the Philippines a 3-nil edge before Louraine Evangelista forced Nur Dania to an own goal 10 minutes later to seal the romp.
It was a perfect campaign for the Young Filipinas, who chalked up the maximum nine points, scoring 11 goals and conceding none, to beat the Malaysians (six points on two wins and one loss) for No. 1 and the lone ticket to the U17 WAC in Suzhou, China that’s at stake in the Tajikistan side of the qualifiers.
This will be the second Asian appearance for the Filipinas U17, who joined the hosts, defending champion North Korea, 2024 runnerup Japan, 2024 third placer South Korea, and fellow group winners Lebanon, Myanmar, Vietnam, Australia, Thailand, India and Chinese-Taipei in the 2026 staging. — Olmin Leyba
LOS ANGELES DODGERS’
two-way player Shohei Ohtani hits a solo home run in National League Championship Series against the Milwaukee Brewers. — REUTERS/KYODO
SHOHEI OHTANI’S otherworldly performance that propelled the Los Angeles Dodgers back to the World Series has left the sporting world in awe, with players and legends alike marvelling at what may have been the greatest single-game display in Major League Baseball (MLB) history.
In a Friday night masterpiece, Ohtani flashed his dominance on both sides of the ball, hitting three homers and pitching six scoreless innings while striking out 10 batters to complete a four-game sweep of the Milwaukee Brewers.
“That was probably the greatest postseason performance of all time,” said Dodgers manager Dave Roberts. “There’s been a lot of postseason games. And there’s a reason why he’s the greatest player on the planet.”
Dodgers teammate Mookie Betts perhaps captured it best: “It’s like we’re the Chicago Bulls, and he’s Michael Jordan.”
Ohtani wasted no time making his presence felt in Friday’s game. He walked the first batter he faced but then struck out a trio of Milwaukee batters before leading off the bottom of the first inning with a home run.
His next homer was a majestic jaw-dropping solo blast that he hit completely out of Dodger Stadium in the fourth inning to put the home side ahead 4-0 before adding another in the seventh.
The Japanese two-way sensation achieved numerous firsts on Friday, becoming the first player with three homers and 10 strikeouts as a pitcher in the same game, the first pitcher with multiple home runs in a playoff contest, and first pitcher to hit a leadoff homer in any MLB game.
“Gotta be one of the greatest athletic performances in history. Never seen anything like Shohei,” three-time NFL Defensive Player of the Year J.J. Watt wrote on X.
Dodgers part-owner Magic Johnson, who produced his share of standout games during a Hall of Fame NBA career with the Los Angeles Lakers, also chimed in after watching a dominant Ohtani allow just two hits in Friday’s game.
“We’ve seen a baseball player hit three HRs in a Playoff game and we’ve seen a pitcher throw a two hitter and 10 strikeouts in a Playoff game — but we’ve never seen one player do both like Shohei Ohtani did tonight!” wrote Johnson.
American tennis great Billie Jean King, also a part owner of the Dodgers, posted a photo on X of her, partner Ilana Kloss and Ohtani on the field after the game with all three smiling and wearing National League Champions T-shirts.
“We were so fortunate to have witnessed the greatest performance by Shohei Ohtani as both a pitcher and hitter: 10 strikeouts and 3 home runs. And he’s just getting started,” King wrote in the social media post.
After being named National League Championship Series (NLCS) Most Valuable Player, Ohtani remained characteristically humble.
“We won it as a team, and this was really a team effort,” he said through his interpreter. “So, I hope everybody in LA and Japan and all over the world could enjoy a really good sake.”
The reigning champion Dodgers will face either the Seattle Mariners or Toronto Blue Jays in the World Series. The Mariners lead the Blue Jays 3-2 in the American League Championship Series and can wrap up the series with a win Sunday in Toronto. — Reuters
CAITLIN CLARK fever will return to the LPGA Tour next month when the WNBA superstar makes another appearance at The Annika pro-am in Belleair, Fla.
Thousands of fans lined the fairways last year to watch the Indiana Fever guard compete in the event. One of Clark’s many endorsement deals is with Gainbridge, the presenting sponsor of The Annika event.
“I had an amazing time at The Annika last November and participating in the pro-am alongside Nelly Korda and Annika Sorenstam, two of the best in the game,” Clark said in a news release on Thursday. “I’m honored to be an ambassador for a company in Gainbridge that is so committed to elevating women’s sports. I can’t wait to return to Tampa in November to play in the Pro-Am with the best women golfers in the world.”
Clark played nine holes with Korda and nine with Sorenstam at last year’s competition.
Clark, 23, is coming off a disappointing second season in the WNBA, limited to just 13 games due to injuries that ultimately ended her season in July. — Reuters
On a cool night at Dodger Stadium, Shohei Ohtani put up a show that defied imagination. In Game Four of the National League Championship Series, stalwarts of the blue and white swept the Brewers and booked a second consecutive trip to the World Series by riding on the coattails of the three-time Most Valuable Player awardee. The latter pitched six shutout innings, struck out 10, and hit three home runs. Needless to say, he was the first pitcher in postseason history to post the eye-popping stats in a single outing. In a sport obsessed with specialization, he was everything everywhere all at once: ace and slugger, spectacle and certainty.
For much of the National League Championship Series, Ohtani had seemed off-balance. And so unnerved was he that he saw fit to take extra batting practice in the tunnels of American Family Field. He was in a certified slump, and appeared bent on finding rhythm even as the Dodgers kept winning. Then, the other day, it all returned in a surge of power that set precedent. No one had ever combined a double-digit strikeout line with a three-homer effort, let alone in October. Manager Dave Roberts called it “the greatest night in baseball history,” and his other charges readily agreed. They bore witness to dominance unlike any performance they were hitherto privy to: a two-way act that made perfect sense in and of itself.
Significantly, Ohtani’s historic bid also reframed the Dodgers themselves. Their pitching staff had already been airtight, compiling a microscopic 0.63 earned run average through the series. And, under the circumstances, his remarkable turn bordered on the ridiculously unfair. Injuries and bullpen doubts that shadowed them for most of the regular season suddenly became irrelevant. In making short work of the Brewers, they became the first defending champions in 16 years to return to the Fall Classic.
To be sure, baseball, even at its most mythic, is still a team sport. Ohtani may be its frontispiece, but the Dodgers’ foundational designs expose his brilliance as equal parts a miracle and a plan fulfilled. Already, historians are ranking his brilliant night alongside the sport’s greatest feats. And rightly so. That said, its true value is in its capacity to stand as proof that the game, already well over a century old, can still surprise itself: for all its supposed predictability, one player can apparently stretch its limits. He didn’t just win a pennant; he expanded the borders of what the best of the best can test.
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.
From small beginnings to breakthrough success, this is what happens when determination meets the right support. According to Mordor Intelligence in its report, trucks continue to serve as the backbone of Philippine commerce, facilitating over 60% of domestic goods movement nationwide. From 2024 through early 2025, truck utilization recorded an estimated year-on-year growth of 8%-12%, driven by the expansion of logistics operations, sustained infrastructure development, and the increasing volume of regional trade. These trends underscore the critical role of accessible and reliable transport financing in enabling businesses to scale operations and achieve long-term growth.
At Global Dominion, every milestone reflects grit, growth, and the drive to move forward. Held on Dec. 6, 2025, the Truck Division Dealers’ Annual Recognition 2025 honored partner-dealers and businesses whose commitment and collaboration demonstrated that with focus, hard work, and the right partnership, #PwedePalaang mangarap nang mas mataas at maabot ito.
Through its growing nationwide dealer network, Global Dominion continues to empower thousands of Filipino entrepreneurs across key industries, reinforcing its position as a trusted financial partner in the country. The event recognized outstanding Truck Dealer Partners whose dedication continues to drive progress for Filipino businesses nationwide.
Beyond the awards, the night highlighted perseverance, excellence, and trust, qualities that push businesses not just to grow, but to confidently Go Beyond their limits. One of the most inspiring moments came from Mr. Michael Taib, Owner of MB Truck Trading and Top 1 Ka-Partner Dealer Nationwide, who shared:
“Nagsimula ako sa munting tindahan, hanggang sa nakilala ko, ng MB Truck Trading si Global Dominion, malaking tulong ang nabigay ni Global para mas lumago pa ang tindahan, pag-assist sa mga client at ang mabilis na pag-approve. Sa Tulong ni Global Dominion at ng Truck Division, #PwedePala na ang munting tindahan ay maging isa sa mga awardee at maging Top 1 dealer nationwide.”
His journey, along with those of the awardees, reinforces that success is built on consistency, dedication, and the courage to move forward. As Global Dominion continues to strengthen its nationwide presence and partner ecosystem, it remains committed to empowering businesses to reach higher goals and achieve bigger wins.
Ready to level up your business? Visit https://gdfi.com.ph/and see how Global Dominion Financing, Inc. can help turn your goals into reality. Let’s move forward, stronger, bolder, and beyond.
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The Teacher Education Council (TEC) on Thursday launched a ten-year roadmap that seeks to strengthen teacher education in the Philippines. — ALMIRA S. MARTINEZ
The Teacher Education Council (TEC) launched a ten-year teacher education roadmap on Thursday, which includes policy recommendations addressing the specialization and assignment mismatches among educators.
“The intention of this is to establish the right and clear direction for the country, specifically, the path we will take in teacher education,” TEC Office of the Secretariat Executive Director V Jennie V. Jocson told BusinessWorld in an interview.
“This includes the pathway of our teachers from pre-service and in-service all the way to their career progression,” she added.
To help address one of the challenges faced by Filipino teachers, the roadmap aims to “reshape and reframe” the specializations of educators who experience misalignment with their expertise.
“For example, the teacher has a bachelor’s degree specializing in English but has been teaching other subjects; she must be redirected to a new specialization,” Ms. Jocson told reporters.
A study by the Philippine Institute for Development Studies (PIDS) revealed that only 25% of teachers in the country are teaching subjects aligned fully with their academic background. Meanwhile, 32% are “partially matched” to teach specialized and non-specialized subjects.
The study also underscored that 43% of teachers are assigned to teach subjects despite lacking formal training or credentials.
A separate report by the Second Congressional Commission on Education (EDCOM 2) noted that the teacher-subject mismatch remains widespread in the country, with 62% of public high school teachers assigned to teach beyond their area of expertise.
The Department of Education’s (DepEd) hiring policy, which prioritizes teacher availability over subject-matter proficiency, caused the longstanding issue, according to the commission.
The four pillars of the decade-long plan target to further promote the teaching profession, strengthen pre-service education, invest in the career progression of teachers, and broaden the impact of teacher education.Through the roadmap, the council seeks to create a collaborative effort in addressing the challenges faced by teachers.
“Some government programs operate in silos with no communication, no clear direction, and no cohesive leadership,” she said. “What we’re hoping with this roadmap is that, through the leadership of the Teacher Education Council, there will be open dialogue and meaningful discussions on teacher education programs.” — Almira Louise S. Martinez
The state seismology agency debunked the popular belief that people on higher floors of a building should move upward during an earthquake, noting that evacuating to an open field remains the safest option.
The idea suggests that during an earthquake, people on higher floors should move upward toward the rooftop to make rescue easier if the building completely collapses.
“I know we see that in the movies. But we cannot predict how a building will collapse,” Charmaine V. Villamil, Senior Science Research Specialist at the Philippine Institute of Volcanology and Seismology (PHIVOLCS), said in a Zoom interview in a mix of English and Tagalog.
During an earthquake, she said, it is still ideal to do the duck, cover, and hold, while the shaking is ongoing.
After the shaking stops and it is deemed safe, calmly leave the building and move to an open area away from structures and potential falling debris.
In residential houses, preparedness for earthquakes is also important, she said — not only by having a go-bag kit and knowing common earthquake drills, but also by being equipped with accurate information.
In the light of recent earthquakes, the interior department on Thursday urged all local chief executives to employ earthquake and tsunami preparedness.
Local government engineering teams were urged to inspect critical infrastructure and assess the reoccupation of damaged structures.
Meanwhile, Department of Health Secretary Teodoro J. Herbosa on Tuesday assured that DOH hospitals are expected to withstand the “Big One” in Metro Manila, which could generate at least a magnitude 7.2 earthquake.
In some local government units, such as in Laguna, they have implemented a suspension of classes as a precautionary measure following the recent earthquakes.
Governor Marisol “Sol” Castillo Aragones-Sampelo said the suspension, which runs from October 14 to 31, covers all face-to-face classes in both public and private schools across the province.
During the two-week suspension period, the provincial government will conduct inspections to assess the structural integrity of school buildings. —Edg Adrian A. Eva
The magnitude 7.4 earthquake that struck offshore of General Luna, Surigao del Norte, a few hours ago was generated by the Philippine Trench but is not related to the two strong tremors that occurred in Davao Del Norte last week, according to the state seismologist.
“Although both were generated by the Philippine Trench, the two earthquakes are unrelated,” Charmaine V. Villamil, Senior Science Research Specialist at the Philippine Institute of Volcanology and Seismology (PHIVOLCS), said in a Zoom interview in a mix of English and Tagalog.
“The trench is long, and the earthquakes happened in separate segments of the trench,” Ms. Villamil said.
According to PHIVOLCS, the Philippine Trench is a subduction zone located along the eastern coast of the country, extending over 1,300 kilometers in length and about 30 kilometers wide, stretching from Bicol to the Visayas and Mindanao.
Due to its length and being one of the six active trenches in the country, the trench is likely to generate subsequent, and sometimes strong, earthquakes, as is the case with the other active trenches, Ms. Villamil said.
Regarding various reports suggesting that recent earthquakes might trigger Metro Manila’s ‘Big One,’ Ms. Villamil said it will not, as the quake is expected to be caused by the West Valley Fault.
The fault stretches over 100 kilometers, passing through highly populated areas from Bulacan and parts of Metro Manila to Calamba in Laguna.
“Even with technology in other countries, they still cannot predict when an earthquake will occur. We should only rely on reliable sources like PHIVOLCS,” Ms. Villamil said.
PHIVOLCS said the fault experienced its last earthquake in 1658 and is now ripe for a strong and destructive quake, following its 200- to 400-year earthquake cycle.
If Metro Manila’s Big One occurs, it could reach a magnitude of 7.2 and produce an intensity of VIII, stronger than the quakes felt in Davao and Cebu.
Instead of being swayed into fear, Ms. Villamil said, preparation is king in the case of the Big One in Metro Manila, and it goes beyond just preparing a ‘Go Bag Kit’ and conducting earthquake drills.
“Preparation must be a way of life, as simple as identifying the obstacles in your house just in case of an earthquake,’ she said.
As the usual cause of death in earthquakes is falling debris, Ms. Villamil also reminded that houses and buildings must be structurally sound to withstand at least a magnitude 7.2 quake.
Also, PHIVOLCS reported that more than 113 aftershocks have been recorded following the Surigao del Norte quake, ranging from magnitude 1.2 to 4.4, as of 8:00 a.m. — Edg Adrian A. Eva
Led by its President and CEO, Lourdes Gutierrez-Alfonso (center), Megaworld cultivates a culture of excellence as it continues to be a great place to work for its employees and achieve milestones after milestones every year.
By Bren Reforza
As the pioneer of integrated townships, largest hotel developer and operator, biggest office landlord, and trailblazer of lifestyle malls in the Philippines, real estate giant Megaworld continues to set the benchmark for real estate excellence in the country.
The company, which is celebrating its 36th year in the industry this year, recently received several prestigious awards from local and international organizations to further cement its position at the forefront of the industry. These recognitions affirmed Megaworld’s leadership, not only in terms of property development but also in sustainability, employee well-being, and lifestyle innovations, among others.
ONE OF PH’S BEST EMPLOYERS
Megaworld recently earned the coveted Great Place to Work Certification after touting an impressive 98% employee approval rating—the highest among the country’s major real estate players.
The company has consistently made it to HR Asia’s “Best Companies to Work For in Asia.” Earlier this year, it was included in Time Magazine’s inaugural list of Best Companies in Asia-Pacific, highlighting its standing as a company that genuinely cares for its people and its communities as it continues to build world-class developments around the country.
The company nurtures leadership excellence by empowering employees to be part of its successes as an organization.
BUILDING BRANDS THAT LEAD AND INSPIRE
Further highlighting the strength of its identity as an organization, Megaworld has been named one of the Philippines’ Most Meaningfully Different Brands in Kantar’s 2025 Most Valuable Philippine Brands report.
The recognition highlights the company’s pioneering LIVE-WORK-PLAY-LEARN township concept, which has redefined urban development by creating self-sustaining communities that continue to drive property value and enhance lifestyles nationwide.
The company highlights its thrust to promote excellence in Environmental, Social, and Governance (ESG) initiatives by bagging the most number of recognitions in this year’s ESG Business Awards.
DRIVING SUSTAINABILITY AND SMART GROWTH
At the ESG Business Awards 2025, Megaworld earned four (4) major honors: the Renewable Energy Adoption Award-Philippines for its full shift to 100% renewable energy; Smart City Award-Philippines for Iloilo Business Park as the first fully integrated smart urban township in Western Visayas; Biodiversity Conservation Award-Philippines for its long-term reforestation program where it targets to plant 3.5 million trees in the next 10 years; and the Waste Management Award-Philippines for its innovative Goal Zero Waste Program that aims to significantly reduce the residual wastes produced in its various townships.
LEADING PH’S HOSPITALITY AND TOURISM
Megaworld Hotels & Resorts’ latest recognition from the Department of Tourism (DoT) highlights how the group champions inclusivity and showcases Filipino hospitality to help make the Philippines a stronger, more competitive, and more welcoming destination.
Through Megaworld Hotels & Resorts, the company became the first and only hospitality group to receive the Tourism Industry Excellence Award from the Department of Tourism (DoT).
The prestigious recognition is anchored on the group’s distinction as the Philippines’ largest hotel operator with over 6,500 room keys and the country’s first-ever Muslim-friendly hotel chain. The group has also distinguished itself for embracing Filipino culture and delivering authentic local experience by pioneering the Sampaguita brand of customer service.
ELEVATING THE MALL EXPERIENCE
Megaworld Lifestyle Malls’ pioneering collaboration with former Miss Universe and sustainability advocate Catriona Gray for the Enviro-Chic Bag Collection earned multiple accolades from both local and international award-giving bodies.
Megaworld Lifestyle Malls emerged victorious at multiple international award-giving bodies this year. At the Retail Asia Awards 2025, the company bagged three major recognitions: Mall of the Year-Philippines for Uptown Bonifacio; Integrated Mixed-Use Mall of the Year-Philippines for Eastwood City; and Themed Mall of the Year-Philippines for Lucky Chinatown.
The group also swept the 2025 International Business Awards (IBA) Stevie Awards, taking home 13 trophies—including six Gold Stevies—for its innovative campaigns and landmark events, such as the McKinley Hill Grand Christmas Parade, the launch of the Repertory Philippines (REP) Eastwood Theater, and its sustainability collaboration with Miss Universe 2018 Catriona Gray.
Megaworld Lifestyle Malls also secured two huge wins at the Asian Experience Awards, where it was recognized for its outstanding experiential dining programs and customer-first retail innovations and its industry-leading pet-friendly mall initiatives.
From pioneering the township concept to becoming the country’s most awarded property developer, Megaworld has consistently reshaped the Philippine real estate landscape. Its latest accolades—spanning governance, branding, sustainability, people, and customer experience—are not just milestones, but markers of how the company continues to lead with vision and purpose. More than building properties, Megaworld is building communities that inspire, connect, and elevate the way Filipinos live, work, and play.
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Nearly 7,000 winning bids and purchase offers have been recorded just six weeks since the launch of Pag-IBIG Fund’s Acquired Assets Super Sale, marking a strong start for the program and reinforcing government efforts to make homeownership more accessible for Filipino workers.
The online Super Sale, which began on Aug. 25, has drawn 6,402 winning bids from interested buyers across the country. In addition, 486 current occupants of Pag-IBIG-acquired properties have formally expressed intent to purchase the homes they live in, allowing them to legitimize ownership and secure a more stable future.
“We are happy to report the early success of the Pag-IBIG Acquired Assets Super Sale in providing more Filipino workers with homes of their own,” said Secretary Jose Ramon P. Aliling, head of the Department of Human Settlements and Urban Development (DHSUD) and chairperson of the Pag-IBIG Fund Board of Trustees. “With nearly 7,000 homes with winning bids or reservations, this initiative is more than a sale — it is a concrete step toward empowering thousands of Filipino families to finally own the home they’ve long dreamed of,” Mr. Aliling stated.
“For us, this forms part of a wider commitment under the Expanded Pambansang Pabahay Para sa Pilipino Program to help build better, more dignified lives for our fellow Filipinos, as we push forward the Marcos administration’s vision for a Bagong Pilipinas,” the Secretary added.
The Pag-IBIG Fund Acquired Assets Super Sale features more than 30,000 foreclosed properties offered at significantly reduced prices through various payment options.
For unoccupied properties, buyers may receive discounts of up to 35% for cash purchases, 25% for 12-month installment terms, and 15% when financed through a Pag-IBIG Housing Loan. For occupied properties, discounts go as high as 40% for cash, 30% for installment, and 20% through housing loan. Meanwhile, current occupants of acquired assets may purchase the homes they are living in through direct sale and enjoy a 10% discount.
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta attributed the strong early turnout to the agency’s fully digital auction system, which has made participation more convenient and transparent for members.
“Not only are we offering our highest-ever discounts on our acquired assets, we are also providing a seamless, secure, and user-friendly platform that allows more members to participate,” Ms. Acosta said. “What’s remarkable is that nearly 30,000 individuals registered for a Buyer ID in just one month since we launched the Super Sale, a significant surge that pushed our total to 108,643. This rapid growth shows just how many Filipinos are eager to take this opportunity to become homeowners through our Super Sale.”
“New batches of properties are posted every week until Dec. 14. We invite all interested members to visit our online portal, browse listings, and submit their offers,” Ms. Acosta added.
She also encouraged current occupants of Pag-IBIG-acquired properties to avail of the ongoing sale. “This is the best time for our current occupants to settle with Pag-IBIG Fund and become legitimate homeowners. We are issuing Invitations to Purchase or Lease to help them legalize their tenure and gain peace of mind, knowing they have a home to call their own,” Ms. Acosta said.
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Staff members work at a booth for lighting products at the China Import and Export Fair, also known as Canton Fair, in Guangzhou, Guangdong province, China April 15, 2023. REUTERS/ELLEN ZHANG
SHANGHAI/GUANGZHOU – Amid the chaos of erratic US tariff announcements, Chinese exporters making everything from kitchen appliances to Halloween decorations have responded by selling more goods to buyers in Europe, Latin America, the Middle East and Africa.
Jacky Ren, whose Gstar Electronics Appliance factory used to generate more than 60% of its revenue from US orders, says he has “given up” on the American market.
Months of tit-for-tat tariff escalations, de-escalations, a brief truce, and the latest threat of a triple-digit tariff increase on Chinese goods from US President Donald Trump in retaliation for Chinese curbs on rare earths exports, have left Ren feeling “extremely exhausted”, and he is seeking out new markets to offset lost orders from US customers.
Ren is not alone. Chinese customs data released this week showed exports from the world’s second-largest economy have grown 7.1% to 19.95 trillion yuan ($2.80 trillion) in the first nine months of this year, despite a significant drop in goods heading to the United States.
This growth is expected to help China demonstrate the resilience of its economy in the face of geopolitical and trade upheaval when it announces third-quarter GDP data on Monday.
Still, Chinese exporters aren’t exactly happy with the situation, even though they have found new markets.
“In this environment, where global consumption [of our products] is not enough to replace US demand, our order volume and revenue have plummeted by half,” said Lou Xiaobo, who makes Halloween decorations in eastern China and is in Brazil on a market research trip as he looks to sell more to Latin America.
As China’s entire export-oriented manufacturing sector has pivoted almost simultaneously, competition has eroded prices, making it more difficult for manufacturers to make ends meet.
“Losing access to the United States, which is the largest consumer market, is akin to the rail industry losing the locomotive,” Ren said, adding that it’s becoming increasingly common for exporters to sell at a loss.
“Every market is highly competitive … all we can do is hold on and wait for an opportunity.”
‘US BUYERS GAVE UP’
On Wednesday, the bustling opening day of the autumn edition of southern China’s Canton Fair in Guangzhou – the world’s largest trade show – all 15 companies Reuters spoke with said they had seen no US buyers. Most noted an uptick in attendees from Brazil, Southeast Asia and Europe. All said they were prioritizing market diversification.
“The situation’s too unstable. (Trump’s) like a child – crying one minute, laughing the next. You can’t play along with that,” said Cherry Yuan, overseas sales manager at Foshan Greenyellow Electric Technology, a maker of mosquito trapping equipment.
Cai Jing, who runs a travel mug company started by her mother and uncle in 1998 that recently started making personal blenders, said export manufacturers have little choice.
It hasn’t been the decision of Chinese exporters to abandon the US market, Cai said.
“Sales to the US have dropped a lot, by around half. It’s not that we’re giving up on the US market. It’s that US buyers gave up on us.” — Reuters
