May 10 (Reuters) – Ferdinand Marcos Jr., the son and namesake of the Philippine dictator ousted by a popular uprising in 1986, won the presidential election by a huge margin on Monday, according to unofficial results, marking a stunning return to the country’s most famous political dynasty. Read more
The reaction to his victory follows.
PETER MUMFORD, Head of Eurasia, South and South East Asia, Practice Group, Singapore
“Marcos’ obvious convincing electoral victory does not guarantee that he will be a popular and / or effective leader, but it gives a strong start to his presidency. In particular, this will create a strong initial gravitational pull on members of Congress. .. and this will mean that more technocrats / economists will want to work in his office. “
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“One of the key monitoring points under his administration will be whether corruption and camaraderie – already significant risks in the Philippines – are deteriorating. It will be interesting to see if he is aware of these concerns and signals / takes action in the coming weeks to reassure foreign investors, or if he is mostly appointing close relatives and other personal connections to key positions, confirming investors’ concerns. “
ALEX HOLMES, NEW ASIA ECONOMIST, CAPITAL ECONOMICS
“The victory puts Marcos in a powerful position. Given his family history and political career so far, there are fears among investors that his choice will fuel corruption, nepotism and mismanagement.”
“Marcos has revealed some details about the campaign’s policy. But one thing he wants to do is resume President Duterte’s Build, Build, Build infrastructure program, which he hopes will “expand and improve.” There is no doubt that the Philippines will benefit from the modernization of its infrastructure, which is considered one of the worst in Asia. “
Philippine presidential candidate Ferdinand “Bongbong” Marcos Jr., son of the late dictator Ferdinand Marcos, delivers a speech at a pre-election rally in Lipa, Batangas Province, Philippines, April 20, 2022. REUTERS / Eloisa Lopez / File
“The future president also wants to pursue closer ties with China. Low-interest loans from China could help limit the fiscal impact of the infrastructure boost.
“China’s courtship would probably involve a compromise in relations with the Philippines’ traditional ally, the United States. There seems to be little economic reason to divert from a country that accounts for more of China’s export demand, invests heavily in large business process outsourcing sectors and is a huge source of remittances. “
TEMARIO RIVERA, Former PROFESSOR OF POLITICAL SCIENCES, UNIVERSITY OF THE PHILIPPINES
“The victory of Marcos Jr. is a sign of the worst rise and concentration of dynastic political power in the country’s political history. But (Vice President Lenny’s) Robredo’s campaign has also spawned an opposition force that can challenge the impunity of the ruling regime if adequately led by progressive leaders who can inspire and move with the people. “
GREG POLING, SENIOR SCIENTIST AND DIRECTOR, SOUTH-EAST ASIA PROGRAM, CENTER FOR STRATEGIC AND INTERNATIONAL STUDIES, WASHINGTON
“He will soon be the duly elected president. But 2022 is not 1972. This is not the end of Philippine democracy, although it could accelerate its disintegration.”
“The United States would be better served by commitment than by criticizing the democratic winds that blow the Philippines.
“Marcos is a political cipher. He avoids presidential debates, avoids interviews and is silent on most issues. However, he was clear that he would like to take another step in improving relations with Beijing.”
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Report by Karen Lema and Martin Petty; Edited by Nick McPhee and Ed Davis
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