No, just cooperation on exploration to have an idea of how large the "assumed to be large" amount of oil & gas in the area. China is just feeding Philippines the carrot. Arroyo can't solve the many of Philippines internal problems thus she always look for alternatives to score points like hailing Philippines boxer (
pacquao? check the Philippines population frenzy for this guy), becoming quite like submissive to China (calling Hu/China big brother, what a joke?), constantly report about meetings with Bush, etc. I think Philippines need a better leader.
OK, once the involving parties know exactly how much oil & gas in the region, it will turn to China's advantage. China won't openly extract it but will rather resort to some cheap & low-morale tactics (shooting fisherman, anyone?). China is facing a dilemma as well, on the one side, she has to deal with the image of "sick man of Asia", "paper tiger" (the recent incident of solider rebellion regarding the issue of food??

) which is still hanging, fogging in there, on the other side she tacitly show off her muscles (shooting satellites, sending a guy into the space for no apparent reason

) . Philippines is a soft target, and the "China threat" thing seems to have serve China both ways.
china is losing its credibility in manila... the quality of good exported to manila is really bad.
BFAD have to collect stuffs from the market: lead contents on toys, worms on chocolates? what's next?
goodluck in giving aid to the phils.
looks to me they needed to put some quality in their products first...