"The arbitration has in fact become an anchor around the Filipino people's neck, weighing the nation down economically," said Herman Tiu Laurel, president of a Manila-based think tank.

MANILA, July 12 (Xinhua) -- The so-called South China Sea arbitration of 2016, initiated unilaterally by the Philippines, has triggered "a myriad of problems" for the country, economically, diplomatically and regionally, one expert has said.

Herman Tiu Laurel, president of the Asian Century Philippines Strategic Studies Institute, a Manila-based think tank, told Xinhua in a recent interview that Manila spent 30 million U.S. dollars merely to pay off legal fees and expenses of lawyers who prepared the case, a figure criticized by the Philippines' Commission on Audit as "unnecessary and excessive."

"The arbitration has in fact become an anchor around the Filipino people's neck, weighing the nation down economically," Laurel said.

"I have articulated a myriad of problems created by the 2016 arbitration ruling, particularly the economic and diplomatic damage it has inflicted and continues to inflict on the Philippines," he said, stressing that regional peace and stability have been at risk due to the tensions caused by the so-called award.

The arbitration ruling "has become the source of 'silent alienation' of the Philippines from its ASEAN family, being in conflict with China while all the rest, including those with South China Sea disputes, are in full cooperation mode with China," Laurel said.

Laurel advocates for the Philippines to emulate other ASEAN countries' "successful and mutually beneficial" approach by engaging in dialogue and constructive cooperation with China.

"China has continuously demonstrated through modern historical times to be a force for peace and harmony," he noted.

This year marks the 50th anniversary of the establishment of diplomatic relations between China and the Philippines. Over that half-century, cooperation has grown in trade, investment and people-to-people exchanges. Yet, the arbitration ruling continues to cast a shadow, Laurel said.

He also pointed to the May midterm elections in the Philippines, noting that many newly elected senators are "independent-minded," bringing new hope for easing bilateral tensions.

The Philippines should "redouble its efforts" to return to the independent and neutral foreign policy and to "focus on building lasting peace and prosperity with our neighbors and the global majority," Laurel said.