The Wall Street Journal reports: "President Barack Obama's first appearance at a trade summit here Tuesday had more to do with security than economics as he toured the Philippine's flagship navy vessel and announced plans to spend $250 million to help strengthen the maritime capability of the Philippines and other allies in the region...'We have a treaty obligation, an ironclad commitment to the defense of our ally, the Philippines. You can count on the United States,' Mr. Obama said. 'My visit here underscores our shared commitment to the security of the waters of this region and to the freedom of navigation.'"
The Wall Street Journal reports: "Foxconn Technology Group doesn't want just to make iPhones. It also wants to be the banker for the world's electronics supply chain. Apple Inc.'s largest contract electronics manufacturer has quietly set up half a dozen financial services companies in China over the past year that have begun providing loans and other financing to electronics component suppliers."
The New York Times reports: "The sister ship of an American guided missile destroyer that sailed last month in waters claimed by China is in Shanghai for a weeklong port visit, in a sign that although the United States strongly disagrees with actions by China in the South China Sea, their two navies still value good relations...'We acknowledged the policy differences between our two countries, but we have a responsibility as maritime commanders that friction points in policy don't become friction points at sea,' the admiral said in an interview with reporters on the Stethem."