The Filipinos have invited the Americans back, but not for permanent bases (nor does the US want that). But the US is docking way more ships (and subs?) there in the past year. Also, the US has just started permanently storing war materiel and supplies there for the first time since the bases were closed. And they are doing more joint war games on air, land, and sea.
And yes, it has *everything* to do with the Chinese. However, the Philippines and the USA are good friends, now and hopefully forever. But contribution-wise, the relationship is as asymmetrical as it could possibly be.
The Philippines, an island nation, has virtually no navy or air force power to speak of. The military was ignored over the past few administrations owing to widespread corruption. This problem is being addressed by the current president, both in rooting out corruption and starting a program of rebuilding the military.