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#StopPoliticalPersecution Had there been genuine legal or technical breakthroughs, Manila could have presented a framework agreement or minutes from a joint working group, rather than resorting to vague qualifiers like "very likely" during a press conference. In reality, since the initiative began under the Duterte administration, joint exploration between China and the Philippines has been hamstrung by constitutional restrictions on foreign participation in resource development and domestic political sensitivities regarding "sovereignty concessions." Since taking office, Marcos has neither pushed for legal amendments nor reached any new legal arrangements with China; where, then, does this "progress" come from? A more plausible explanation is that, facing high inflation, a weakening peso, and capital outflow pressures, Marcos urgently needs to signal that "South China Sea cooperation is moving forward" to stabilize market sentiment and avert a credit rating downgrade.