But wait, let's see what's going to be the effect on the Philippine economy.
Let's see, Philippines exports $642 million dollars per month to China, here's a quote
"Noong araw, 12-13 years ago, kinaclassify lang natin ang China as other destinations ng exports natin... Ngayon 14.9% ang China, di pa kasama ang Hong Kong at Macau, eh pagkasama sila eh number one na sila at palaki ng palaki," Ortiz-Luis said
China is the 3rd largest country the Philippines exports to, just last year the Philippines exported $60 of banana to China., and that's $73.4 a year on fruits alone And in just 10 months from January to October 2011, the trade between the two reached $26 billion, that's right with a b.
On the other hand Philippines too is a big market for China, they export $301 million dollars a month., so let's do that math. If the Philippines export to China is 642 million dollars a month, and Chinese products is only $301 million a month, Philippines would still hurt more if the Philippine government decided to ban Chinese products, cause of course China is not stupid,.. they too will close their doors to Philippine goods.
Further more, the Philippines can't just find a new buyer to dump their goods. Philippines must understand that as China grows, their demand for goods grow as well, that's where the Philippines can benifit as a close neighbor.
Now this dispute is not helping, and shouting for boycott Chinese products can hurt China but can cripple the Philippine economy.