Ferdinand “Bongbong” Marcos Jr. is eager to resume the “Build Build Build” infrastructure programme of his predecessor and pursue closer ties with China. Extra spending on infrastructure would be welcome and could provide an important boost to the country’s prospects. In contrast, the potential economic benefits from closer ties with China are likely to be quite small, especially given the risk that a pivot towards Beijing could jeopardise the country’s more important economic relationship with the US.
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