Marcos decides to return to the Philippines after an electoral landslide

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Philippine presidential candidate Ferdinand “Bongbong” Marcos Jr., son of late dictator Ferdinand Marcos, delivers a speech during a campaign rally in Lipa, Batangas province, Philippines April 20, 2022. REUTERS/Eloisa Lopez/File Photo

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May 9 (Reuters) – Ferdinand Marcos Jr, son and namesake of the Filipino dictator deposed in a popular uprising in 1986, won the presidential election on Monday by a huge margin, according to unofficial results, marking a stunning comeback for the most famous in the country. political dynasty. Read more

Here is the reaction to his victory.

PETER MUMFORD, EURASIA GROUP PRACTICE LEAD, SOUTH AND SOUTHEAST ASIA

“Marcos’ apparent landslide election victory is no guarantee that he will be a popular and/or effective leader, but it does give his presidency a good start. In particular, it will create a strong initial pull on members of the Congress…and will mean that more technocrats/economists will be ready to serve in his cabinet.”

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“One of the key watch points under his administration will be whether corruption and cronyism – already notable risks in the Philippines – are worsening. It will be interesting to see if he acknowledges these concerns and flags/takes action. in the coming weeks to reassure foreign investors, or whether he mainly appoints relatives and other personal relations to key positions, reaffirming investors’ concerns.”

ALEX HOLMES, EMERGING ECONOMIST ASIA, CAPITAL ECONOMICS

“The victory puts Marcos in a strong position. Given his family background and checkered political career to date, investors fear his election will fuel corruption, nepotism and poor governance.”

“Marcos gave few political details about the election campaign. But one thing he is keen to do is take over President Duterte’s ‘Build, Build, Build’ infrastructure program, which he hopes to ‘expand and improve’ There is no doubt that the Philippines would benefit from upgrading its infrastructure, which is ranked among the worst in Asia.”

“The new president is also keen to tighten ties with China. China’s low-interest loans could help limit the fiscal impact of the infrastructure push.

“Courting China would likely involve a compromise in relations with the Philippines’ traditional ally, the United States. business process outsourcing industry and is a huge source of remittances.”

TEMARIO RIVERA, FORMER PROFESSOR OF POLITICAL SCIENCE, UNIVERSITY OF THE PHILIPPINES

“Marcos Jr’s victory signals the worst rise and concentration of dynastic political power in the country’s political history. But (Vice President Leni) Robredo’s campaign has also spawned an opposition force that could challenge the impunity of the ruling regime if properly led by progressive leaders who can inspire and move with the people.”

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Reporting by Karen Lema and Martin Petty; Editing by Nick Macfie

Our standards: The Thomson Reuters Trust Principles.

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