Manila—Dr Tun Mahathir Mohamad, Malaysia’s Prime Minister, issued a warning to the Philippines concerning loans from China. Drawing from Malaysia’s experience of what he termed as “unfair” infrastructure initiatives backed by China.
Rodrigo Duterte, the Philippines’ strongman President, has expressed admiration for China, and indeed has given the world’s second-largest economy preferential treatment. According to Capital Economics, “The upshot is that while improvements to the country’s infrastructure are desperately needed, the pace of increase needs to be managed properly in order to avoid further balance of payments strains.”
Source: Loan News Today (loannewstoday.net)
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