We had real Filipino friends, many of whom knew what would happen when the fleet left. Their Manila bosses told them they'd service the Chinese commercial fleets with the gear we left them. The Chinese wouldn't pay them what the U.S. did, and why should they, with Chinese shipworkers making a couple bucks a day tops? End of story.
Clark's pretty much done for, but we had nothing to do with it, Pinatubo did. The infrastructure elsewhere constructed over decades has been systematically looted right down to the copper wires. There just isn't all that much to come back to.
It was, as might be expected, a lot of politicians in Manila with red t-shirts and loud mouths and radical chic that ended the relationship. As usual, they let other people pay the price of their vainglory and vanity. They're still around. Let them police their own damn region.
To the contrary, all that stuff that was looted was 25 year old technology, all the infrastructure is still there. Good plumbing, good electricity, lots of structures, plenty of land, and TA-DA, two freaking great runways that can land the erstwhile space shuttle, at least two flight schools, and five or six airlines flying out of there, mostly to Dubai, Singapore and Hong Kong. I would like to invest there but the laws for foreigners discourage that.