Tuesday, January 5, 2016

Why Philippine membership of AIIB is full of twists and turns

This was reprinted and/or republished in Xinhua, People’s daily, Global times and many other media portal in China, and “lianhe zaobao” from Singapore put this article in their website. Professor Lucio Pitlo III’s analysis is attracting many interests. It coincided that Global time also published an editorial commenting the Manila AIIB membership. Its general tune is positive, and describes it as “the road to happiness is full of hardships”.

Why Philippine membership of AIIB is full of twists and turns
Professor Luico Pitlo III. January 2016.

On Dec 30, 2015, just before the deadline of qualification as a founding member of AIIB, the Philippines hit a buzzer beater and announced its joining. Looking back at the process of Philippines membership of AIIB, It is really full of twists and turns. Philippines were among the first batch of 21 countries who had the intention to become the founding member of AIIB. However, when a big number of major western powers joined the bank one by one, Philippines instead hung back. At the time the public almost forgot the issue of Philippines membership, Philippines caught the last train to the surprise of many.

Why did the Philippines “start early, finish late”? Lucio Blanco Pitlo III, a scholar from De La Salle University Philippines, elaborates the reasons behind.