Simulations therefore of a “hard landing” are important to track. Euromonitor International reports that ten jurisdictions most at risk from a hard landing in China include HK, Taiwan, large economies like South Korea, India and Japan, as well as the 4 biggest ASEAN economies (Indonesia, Malaysia, Singapore and Thailand) plus Vietnam. What does this mean for the Philippines?
China is an important trading partner and has been, in fact, the third major export market of the Philippines since 2011, with an average share of about 12 percent from 2010 to 2014. Based on NSO data, in 2014, our exports to China reached $ billion or 13.6 percent of our total merchandise exports. 1  IMF. (August 2015).