“In yet another blow to BRI, Philippines abandons big Chinese-backed infrastructure projects, turns to Japanese And Western competitors”, Swarajyamag, November 3, 2023:
“The recently concluded Belt and Road Initiative (BRI) summit in Beijing marked the 10th anniversary of the ambitious global infrastructure-building program, with 23 national leaders, including Philippine President Ferdinand Marcos Jr, in attendance.
At the event, Chinese President Xi Jinping announced close to $100 billion in new state policy bank financing for the BRI, emphasising the goal of creating a “global community of shared future.”
However, the Philippines has taken a significant geopolitical turn by opting to terminate several major infrastructure projects backed by China in favor of Japanese and Western alternatives…..”
Read the full article at Swarajyamag.com
