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Manman Dejeto/AFP FIRST PART: Investigative: Romancing China under Duterte MANILA, Philippines (Philippine Center for Investigative Journalism) — They call it “Dutertenomics.” Its tagline: “Build, build, build.” Its boast: “The golden age of Philippine infrastructure.” Its estimated bill: P8.4 trillion, to be sourced from taxes, foreign and local loans, and Official Development Assistance (ODA) from bilateral partners.By 2022, senior officials of the Duterte administration promise that roads, bridges, skyways, and rapid mass transport systems will rise and connect the 7,000-plus islands of the Philippines.Philippine President Rodrigo Duterte (C) returns a salute from a Chinese naval officer (L) as Philippine Defence Secretary Delfin Lorenzana (R) looks on during Duterte's arrival to visit the guided missile frigate Changchun berthed at the Davao international port on May 1, 2017.Philippine President Rodrigo Duterte on May 1 visited Chinese warships docked in his home town and raised the prospect of future joint exercises, highlighting fast-warming relations despite competing claims in the South China Sea.The full bundle consists of 57 mostly infrastructure projects that the current government plans to implement, courtesy of money pledged by minted friends like China and Japan.
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Going by their press statements alone, they have already raised tens of billions of dollars—in pledges at least.
From his trip to the Middle East last month, Duterte has reportedly secured 5 million in potential investments from Saudi Arabia, Bahrain, and Qatar.