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US Pentagon official’s Manila speech exposes alliance fragility, with Philippines likely to bear costs of provocations: Chinese expert_我的网站

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While delivering a speech at the Stratbase Institute in Manila, Philippines, on Monday, Colby, the Under Secretary of War for Policy, laid out the US' so-called "flexible realism" approach to the Indo-Pacific, stressing that the US is "definitely not disengaging from Asia" but strengthening its forward posture and seeking to build a "denial defense" along the First Island Chain, according to a transcript of the speech released on the US Department of War website.
At the same time, he called on US allies and partners to step up, invest more in their own defense, and take responsibility for their own sovereign security. "We are looking for partners, not protectorates," Colby claimed.
The claims have drawn attention from some Philippine media outlets, with some linking them to the South China Sea issue. However, the transcript of Colby's speech showed that he did not mention China, the Global Times found.
A Manila Bulletin report noted that after calling on allies to invest more in defense, Colby cited the Philippines as an example of the "kind of partner Washington wants to work with." He praised Manila for "strengthening its military and coast guard capabilities while deepening operational cooperation with the US" amid what the report described as China's "aggression" in the South China Sea.
Colby's visit to Manila marked his first official trip to Southeast Asia as an undersecretary under the Trump administration. He is scheduled to travel from Manila to Jakarta, Indonesia; Bangkok, Thailand; and Phnom Penh, Cambodia, said the report.
Meanwhile, a Manila Standard report interpreted Colby's remarks as showing that "the US is working closely with the Philippines" to strengthen Manila's military capabilities and protect its sovereign rights in the South China Sea, despite the fact that Colby did not mention China in his speech.
The US appears to be adopting a more retrenchment-style approach, shifting from leading directly to relying on regional allies to take the frontline role while providing support. This approach allows Washington to advance its interests while lowering its own costs, Song Zhongping, a Chinese military affairs expert, told the Global Times.
Song noted that Washington seeks to use repeated maritime frictions to tie down Chinese resources, which helps explain Colby's praise for Manila: the Philippines bears part of Washington's strategic burden while receiving largely rhetorical US support.
A South China Morning Post report on Tuesday noted that Colby avoided mentioning the recent disputes over Huangyan Dao, despite Washington having criticized China's establishment of a nature reserve there just two days earlier. The report described the omission as a "measured tone" ahead of a potential meeting between the Chinese and US leaders.
Washington's primary concern is its own interests. At the core of its "Indo-Pacific strategy" is strengthening its alliance network by pushing partners such as the Philippines to shoulder greater security burdens in pursuit of US strategic goals. As US-China diplomatic dynamics evolve, countries serving as Washington's geopolitical spearheads in confrontations with China risk being left behind, said some observers.
Song noted that this also reveals the fragility of the US-Philippine relationship.
The US has encouraged the Philippines to take the front line in confrontations with China while offering mostly rhetorical support. Should tensions escalate, Manila would bear much of the cost on its own, said the expert.
。 炒股就看金麒麟分析师研报,权威,专业,及时,全面,助您挖掘潜力主题机会! 來源:银瑞社 文/瑞财经 许淑敏 过去的半年,招商证券有一个最重要的变化—— 董事长从霍达变更为朱江涛。 新官上任三把火,伴随着朱江涛到任,招商证券管理层开始频繁调整。 从2026年4月-8月,招商证券董高变动高达13次。

二 | 其中,6名董高离任,占2025年初董高总人数的30%。 招商证券管理层,迎来一轮大洗牌。 除了董事长的变更,还有非执行董事刘振华、李晓霏、李德林的离开,职工董事马小利、董秘刘杰离任。

三 | 最新的安排显示,招商证券聘任马小利为董事会秘书。 据称,马小利是招商证券的“老将”具有良好的职业道德和个人品德,具备财务会计相关工作经验。

四 | 他自2024年11月起任招商证券办公室总经理,2025年12月至2026年8月任职工代表董事。 招商证券的管理层调整,仍未完待续。当下,招商证券总裁一职空悬,仍由朱江涛代为履行总裁职责。

五 | 人事变动之下,招商证券管理层薪酬上涨了。

六 | 截至2026年6月30日止6个月期间,招商证券关键管理人员报酬为738.79万元,较上年同期的498.19万元上涨了48.29%。 薪酬上涨的背后,是招商证券业绩大爆发。 2026年上半年,招商证券实现营业收入219.02亿元、归母净利润106.24亿元,分别同比增长108.19%、104.87%。 同时,资产规模也不断走高。 截至2026年6月末,招商证券资产总额8714.08亿元,较2025年末增加15.65%。 不过,招商证券的净资本下降了。 截至2026年6月末,招商证券母公司净资本为870.88亿元,较上年末的895.49亿元减少了2.75%。 业绩高增之下,是招商证券营收结构的变化。 招商证券近乎过半营收,来自于投资及交易业务。

七 | 2026年上半年,招商证券投资及交易板块实现营业收入108.91亿元,同比增长325.63%,占总营收49.72%。 而投资及交易业务主要包括权益投资、衍生金融工具的交易和做市、固定收益投资、大宗商品、外汇业务以及另类投资业务等,收益具备一定的不确定性。

八 | 至于财富管理和机构业务板块,2025年该业务营收占比一度达到55.36%,但眼下营收占比下滑明显。 2026年上半年,招商证券财富管理和机构业务板块实现营业收入82.58亿元,同比增长39.21%,占比为37.7%。 业务高增的另一面,则是招商证券营业支出的上涨。 2026年上半年,招商证券营业总支出88.63亿元,同比增长83.30%。其中,信用减值损失计提2.5亿元,同比增长2.66亿元、增幅达1687.7%,融出资金、买入返售金融资产均有计提。 另外,招商证券业务及管理费为85.26亿元,同比增长78.07%,主要是职工工资增加。 2026年上半年,其实现职工工资为59.56亿元,同比大涨126.38%。 但从员工总数来看,招商证券正在减员。 截至2026年上半年,招商证券在职员工12767人,较上年末12792人减少了25人。 若以职工工资粗略折算,2026年上半年,招商证券员工人均工资约为46.6万元。责任编辑:杨红卜。

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Published on:07:24:57

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