Philippine Daily Inquirer-Aug 8, 2022

Former president Rodrigo Duterte’s controversial foreign policy pivot toward China and Russia during his six-year term is now unraveling at a big cost to taxpayers. First were the much-touted Chinese investments, many of which failed to take off, and funding for major infrastructure projects. It even had to terminate, early this year, loan negotiations with China after Beijing insisted on high interest rates. The latest came just days before Duterte ended his term last June, when the government unilaterally canceled a P12.7-billion contract to buy 16 Mil Mi-17 helicopters from Russia for fear of economic sanctions from the United States. Now, the Philippines risks losing the P2 billion it gave as down payment for the aircraft deal. Read more at: https://opinion.inquirer.net/155852/costly-pivot First published in Philippine Daily Inquirer