Bongbong Marcos aka Ferdinand Marcos Jr. has won the presidency by a landslide. With 78% looking upon US favorably and 55% looking upon China favorably, there is a geo-political struggle in the region. Marcos has said that he will not alter their relationship with the US, but that he wishes to extend the countries' relationship with China. They are very close neighbors, and it seems like something that would organically happen.
If newly elected President Marcos goes back to his father's way of "violating" human rights, it will put their "partnership" with the US in jeopardy, but unlikely to make them look unfavorably to China. President Duterte has welcomed in stronger relations with China and walked back from the US, in many ways. With Bongbong and his daughter walking into the government as president and vice president, a continuation in this direction looks inevitable.
I think the Philippines wants to create their own identity free from any influences and try to foster good business relationships with whoever is willing to come to the table. Many foreign countries come to the Philippines to open up businesses to employ and service their people. The Filipinos are a very welcoming and warm people that just want freedom and prosperity and hopefully the new president is able to find this success that his people crave, at a higher level. Bongbong Marcos says he wants to right the wrongs to his family's image and bring more hope for a better life for the citizens of the Philippines.