Ferdinand Marcos Jr, the son and namesake of the Filipino dictator deposed in a popular uprising in 1986, won a presidential election by a huge margin on Monday, according to unofficial results, marking a stunning comeback for the country’s most notorious political dynasty. country. Here is the reaction to his victory.
PETER MUMFORD, EURASIA GROUP PRACTICE MANAGER, SOUTH AND SOUTH EAST ASIA “Marcos’ apparent landslide election victory is no guarantee that he will be a popular and/or effective leader, but it does give a good departure for his presidency. In particular, it will create a strong initial gravitational pull on members of Congress….and will mean that more technocrats/economists will be ready to serve in his cabinet.”
“One of the key watch points under his administration will be whether corruption and cronyism – already notable risks in the Philippines – are worsening. It will be interesting to see if he acknowledges these concerns and flags/takes action. in the coming weeks to reassure foreign investors, or whether he mainly appoints relatives and other personal relations to key positions, reaffirming investors’ concerns.” ALEX HOLMES, EMERGING ECONOMIST ASIA, CAPITAL ECONOMICS
“The victory puts Marcos in a strong position. Given his family background and checkered political career to date, investors fear his election will fuel corruption, nepotism and poor governance.” “Marcos gave few political details about the election campaign. But one thing he is keen to do is take over President Duterte’s ‘Build, Build, Build’ infrastructure program, which he hopes to ‘expand and improve’ There is no doubt that the Philippines would benefit from upgrading its infrastructure, which is ranked among the worst in Asia.”
“The new president is also keen on forging closer ties with China. China’s low-interest loans could help limit the fiscal impact of the infrastructure push.” Courting China would likely involve a compromise in relations with the traditional ally of the Philippines, There seems to be little economic reason to turn away from a country which accounts for a greater share of export demand than China, which has invested heavily in the sector of business process outsourcing and which is a huge source of remittances.”
TEMARIO RIVERA, FORMER PROFESSOR OF POLITICAL SCIENCE, UNIVERSITY OF THE PHILIPPINES “Marcos Jr’s victory signals the worst rise and concentration of dynastic political power in the country’s political history. birth to an opposition force that could challenge the impunities of the ruling regime if properly led by progressive leaders who can inspire and move with the people.”
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