bin picking – PH warned against heavy dependence on China for funding

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bin picking – PH warned against heavy dependence on China for funding

The Philippines must avoid too much reliance on China in funding big-ticket infrastructure projects under its “Build, Build, Build” program, a leading economist said.
Veteran economist Bernardo Villegas of the University of Asia and the Pacific (UA&P) welcomed indications that President Duterte —after rebalancing trade and investment relations away from the West—was now doing “a lot of rebalancing away from China.”
At the beginning, Villegas said many people were concerned that Duterte was heading to the extreme by pivoting from the United States to China. He, however, also recognized the President’s moves to bring into the equation other Asian neighbors.

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