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Asia Unbound

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Showing posts for "Philippines"

A Debate on the New Philippine Administration

by Joshua Kurlantzick
Duterte-State-of-the-Nation Philippine President Rodrigo Duterte holds up a copy of his speech as he speaks before the lawmakers during his first State of the Nation Address at the Philippine Congress in Quezon city, Metro Manila, Philippines, July 25, 2016. (Erik De Castro/Reuters)

Over email, Professor Richard Javad Heydarian of De La Salle University in Manila and CFR Senior Fellow for Southeast Asia Joshua Kurlantzick discussed some of the potential effects—both positive and negative—of the administration of new Philippine President Rodrigo Duterte.

Richard Javad Heydarian: By many indicators, Rodrigo Duterte is emerging as the Philippines’ most powerful president since the fall of the Marcos dictatorship three decades ago. Fresh into office, and after months of aggressive campaign rhetoric, the new president enjoys excellent trust ratings, has amassed super-majority support in the Philippine Congress, and is set to appoint a majority of Supreme Court justices in coming years. The Ombudsman office, which has been waging a relentless campaign against corrupt officials, also enjoys close and cooperative relations with Duterte. Read more »

Friday Asia Update: Five Stories From the Week of July 22, 2016

by Guest Blogger for Elizabeth C. Economy
Loretta-1MDB U.S. Attorney General Loretta E. Lynch announces the filing of civil forfeiture complaints seeking the forfeiture and recovery of more than $1 billion in assets associated with an international conspiracy to launder funds misappropriated from a Malaysian sovereign wealth fund 1MDB in Washington, July 20, 2016. (James Lawler Duggan/Reuters)

Rachel Brown, Lincoln Davidson, Bochen Han, Gabriella Meltzer, and Gabriel Walker look at five stories from Asia this week.

1. Justice Department announces action against 1MDB. The ongoing scandal surrounding Malaysian state investment fund 1MDB took a dramatic turn this week when the U.S. Justice Department announced plans to seize $1 billion in assets as part of an investigation into money laundering and funds improperly taken from 1MDB. While the fund was intended to boost Malaysia’s development, some of the money appears to have instead gone toward enriching Prime Minister Najib Razak, his stepson, and other associates. Read more »

Friday Asia Update: Five Stories From the Week of July 15, 2016

by Guest Blogger for Elizabeth C. Economy
Philippines-decision-waiting Activists watch an announcement by a government official regarding a ruling on the South China Sea disputes by an arbitration court in the Hague at a restaurant in Manila, Philippines, July 12, 2016. (Erik De Castro/Reuters)

Rachel Brown, Lincoln Davidson, Bochen Han, Theresa Lou, Gabriella Meltzer, and Gabriel Walker look at five stories from Asia this week.

1. Asia reacts to the South China Sea decision. The ruling of the arbitral tribunal in the Philippines’ case against China regarding the South China Sea sent ripples across the region. The Chinese government responded with an unequivocal rejection and state media irately critiqued the tribunal’s award, which included a ruling that China was not entitled to historic rights in the waters and that the Spratly Islands—alone or individually—do not generate any exclusive economic zones. Read more »

Friday Asia Update: Five Stories From the Week of May 13, 2016

by Guest Blogger for Elizabeth C. Economy
Philippines-transgender-congress Geraldine Roman, a transgender congressional candidate, waves to her supporters as confetti rains during a “Miting de Avance” (last political campaign rally) for the national election in Orani town, Bataan province, north of Manila in the Philippines, May 6, 2016. (Romeo Ranoco/Reuters)

Ashlyn Anderson, Rachel Brown, Theresa Lou, Gabriella Meltzer, and Gabriel Walker look at five stories from Asia this week.

1. Philippine congress gains its first transgender member. Despite the country’s discriminatory laws against gay and transgender people, Liberal Party candidate Geraldine Roman received more than 60 percent of the vote in her home province of Bataan in northern Philippines. Roman comes from a long line of politicians, and will take the congressional seat occupied by her mother during the previous three terms. Read more »

Friday Asia Update: Five Stories From the Week of May 6, 2016

by Guest Blogger for Elizabeth C. Economy
Supporters chant slogans as the motorcade of presidential candidate Rodrigo "Digong" Duterte passes by during election campaigning in Malabon, Metro Manila in the Philippines April 27, 2016. REUTERS/Erik De Castro Supporters chant slogans as the motorcade of presidential candidate Rodrigo "Digong" Duterte passes by during election campaigning in Malabon, Metro Manila in the Philippines on April 27, 2016. (Erik De Castro/Reuters)

Ashlyn Anderson, Rachel Brown, Lincoln Davidson, and Gabriella Meltzer look at five stories from Asia this week.

1. Duterte ahead in Philippine pre-election polls. Leading candidate Rodrigo Duterte is currently the mayor of Davao city on the southern island of Mindanao, where he is considered to have effectively cracked down on crime and improved the local economy. Duterte has pledged to do the same for the nation if elected and and to act decisively as president. He leads in current opinion polls with roughly 32 percent of the vote, and is trailed by Senator Grace Poe with 25 percent, and Interior Minister Mar Roxas with 22 percent. Read more »

How Could the Philippines’ Money Laundering Woes Affect Overseas Workers?

by Guest Blogger for Elizabeth C. Economy
Salud Bautista (R), president of PhilRem Service Corporation, a remittance and money changer company, answers questions from Senators, beside her lawyer, during a Senate hearing of money laundering involving $81 million stolen from Bangladesh's central bank, at the Philippine Senate in Manila April 19, 2016. REUTERS/Erik De Castro TPX IMAGES OF THE DAY Salud Bautista (R), president of PhilRem Service Corporation, a remittance and money changing company, answers questions from senators during a hearing at the Philippine Senate in Manila on money laundering involving $81 million stolen from Bangladesh's central bank on April 19, 2016. Greater scrutiny of PhilRem could have implications for other Philippine remittance services around the world. (Erik De Castro/Reuters)

Rachel Brown is a research associate in Asia Studies at the Council on Foreign Relations.

In February, $81 million stolen from the central bank of Bangladesh’s account at the Federal Reserve Bank of New York was laundered through the Philippines. Most observers worried about the security of the institutions involved. But equally if not more important is the potential impact on overseas Filipino workers. Increased scrutiny of vulnerabilities in the Philippines’ anti-money laundering provisions could make it harder for the over ten million Filipinos working abroad to send remittances home, as has occurred in many other developing nations. Globally, the Philippines is the third-highest recipient of remittances, which compromised 10 percent of GDP in 2014. These funds help fuel domestic consumption, and anything that affects the cost or ease of sending money to the nation will have significant economic implications. Read more »

Friday Asia Update: Five Stories From the Week of April 15, 2016

by Guest Blogger for Elizabeth C. Economy
China-water-pollution A man walks by a pipe discharging waste water into the Yangtze River from a paper mill in Anqing, Anhui province, December 4, 2013. (William Hong/Reuters)

Rachel Brown, Lincoln Davidson, Gabriella Meltzer, Gabriel Walker, and Pei-Yu Wei look at five stories from Asia this week.

1. China’s greatest pollution nightmare may be lurking underground. According to statistics released by the Chinese media on Monday, over 80 percent of water from 2,103 underground wells tested throughout the country is polluted to the point where it is no longer safe for drinking or bathing. Read more »

Prevent the Destruction of Scarborough Shoal

by Guest Blogger for Elizabeth C. Economy
Boats at Scarborough Shoal in the South China Sea are shown in this handout photo provided by Planet Labs, and captured on March 12, 2016. The head of U.S. naval operations, Admiral John Richardson said the U.S. military had seen Chinese activity around Scarborough Shoal in the northern part of the Spratly archipelago, about 125 miles (200 km) west of the Philippine base of Subic Bay. REUTERS/Planet Labs/Handout via Reuters ATTENTION EDITORS - THIS PICTURE WAS PROVIDED BY A THIRD PARTY. REUTERS IS UNABLE TO INDEPENDENTLY VERIFY THE AUTHENTICITY, CONTENT, LOCATION OR DATE OF THIS IMAGE. THIS PICTURE IS DISTRIBUTED EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTS. FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS. FOR EDITORIAL USE ONLY. NO RESALES. NO ARCHIVE. TPX IMAGES OF THE DAY Boats at Scarborough Shoal in the South China Sea are shown in this handout photo provided by Planet Labs, and captured on March 12, 2016. The head of U.S. naval operations, Admiral John Richardson said the U.S. military had seen Chinese activity around Scarborough Shoal in the northern part of the Spratly archipelago, about 125 miles (200 km) west of the Philippine base of Subic Bay. (Courtesy Reuters/Planet Labs).

Captain Sean R. Liedman currently serves as the U.S. Navy Fellow at the Council on Foreign Relations.  Previously, he was the commander of Patrol and Reconnaissance Wing Eleven operating the P-8A and P-3C maritime patrol and reconnaissance aircraft. He has twice served in the Air Warfare Division on the Chief of Naval Operation’s staff and also as the executive assistant to the deputy commander of U.S. Central Command.  The conclusions and opinions expressed are his own and do not reflect the official position of the U.S. government.

Read more »

Friday Asia Update: Five Stories From the Week of March 18, 2016

by Guest Blogger for Elizabeth C. Economy
Bangladesh-bank-theft Maia Santos Deguito, branch manager of the Rizal Commercial Banking Corp (RCBC), rubs her eyes as she testifies during a Senate hearing of money laundering involving the theft of $81 million from the U.S. account of the Bangladesh Bank, at the Philippine Senate in Manila, March 17, 2016. (Erik De Castro/Reuters)

Ashlyn Anderson, Rachel Brown, Lincoln Davidson, Ariella Rotenberg, Gabriel Walker, and Pei-Yu Wei look at five stories from Asia this week.

1. Bangladeshi bank chief resigns after $101 million cyber theft. The governor of Bangladesh’s central bank stepped down in the wake of a financial heist involving hackers, casinos, and multiple Asian nations. In early February, $81 million were transferred electronically from Bangladesh’s Federal Reserve Bank of New York account to the Philippines, mainly to accounts at the Rizal Commercial Banking Corporation. The funds were eventually laundered through casinos, which are not required to adhere to some of the nation’s money-laundering regulations. Read more »

The Philippines Reaches a Crossroads

by Joshua Kurlantzick
philippines-aquino-2016 Chinese President Xi Jinping (L) and Philippine President Benigno Aquino listen during a APEC Business Advisory Council (ABAC) dialogue at the Asia-Pacific Economic Cooperation (APEC) summit in Manila, Philippines on November 18, 2015. (Wally Santana/Reuters)

For the past five years, the Philippines, which long lagged behind faster-growing Asian economies like Thailand, Malaysia, Vietnam, and Indonesia, has posted some of the highest annual growth rates in the region. Although the Philippines’ boom has not received as much attention from investors and the international media as one might have imagined, the numbers are impressive. ANZ Bank projects the country to grow by 6.1 percent in 2016. In 2014, the country’s economy also grew by over six percent, and in 2015 it grew by 5.8 percent, according to World Bank data. Read more »