Ferdinand Marcos Jr.’s win, corruption and kleptocracy in the Philippines
10 May 2022 (GZERO)
With Marcos Jr. about to win the presidency, how will his leadership change the Philippines?
Well, it was a big win, almost 30 points over his opponent, and the first time we’ve seen an absolute majority in Philippines history for the presidency. Not huge changes expected in governance. Let’s keep in mind that the vice president is actually the daughter of President Duterte, who’s just leaving power. The president and the vice presidents here are actually… Those elections are held separately, and so you can have different parties that actually win, and frequently do, which is sort of an unusual twist to the Philippines. Pro-foreign direct investment, generally pro-markets, a little bit more of a US and Western tilt as opposed to Duterte, whose military really was skeptical of China, but he personally was more engaged with Beijing. The big question is what’s the cabinet going to look like, how independent, how technocratic, or is there going to be a lot of corruption, a lot of kleptocracy? Keeping in mind that Bongbong, the new president, is the son of Ferdinand and Imelda Marcos, who were drummed out for an extraordinary abuse of power in the Philippines before. So what everyone’s going to be watching.