Chitchat Pinoy vice-president makes more sense than murderer Duterte.

Robredo warns of China debt trap, cites Sri Lanka

The Duterte administration’s new source of financing for its ambitious infrastructure projects, China, could lead the Philippines into a “debt trap” as it did other countries that had borrowed heavily from the Asian giant, according to Vice President Leni Robredo.

Robredo cited the project to build a new Bicol Express, a rail system connecting Manila and Bicol region, for P175 billion, which would come from a Chinese loan.

Robredo said there should be a better way to finance the project other than through loans from China.

“First of all, it’s debt. Very huge, P171 billion. That’s very huge,” said Robredo, who is a native of Naga. “Our fear is we might get stuck in a debt trap like the one experienced by Sri Lanka,” she said.

According to BBC.com, Sri Lanka had relied so heavily on loans, mostly from China, that 95 percent of all government revenues now go to debt repayment alone.

Many of the projects funded by Chinese loans turned out to be nonprofitable, according to the BBC.com report.

Second bridge cannot help Penang Bridge as the traffic flow differ by seven times

Seberang Perai, April 10 – Sultan Abdul Halim Mu’adzam Shah Bridge (also known as Penang second bridge) public relations and communications manager Azizi Azizan said the average daily traffic flow of the Penang Bridge was 100,000 vehicles while the second bridge only recorded 13,000 vehicles per day, therefore it was unable to help in dispersing the traffic flow of the Penang Bridge.

In an interview with Kwong Wah Yit Poh, he said the traffic flow of Penang Bridge was seven times higher than the second bridge, of which more than 70% of the Penang Bridge users were from northern and central district of Seberang Perai. The majority of them did not use the second bridge.

RM1.7bil loan from China for second Penang bridge

KUALA LUMPUR: Malaysia is set to secure a loan of more than RM1.7bil (US$500mil) from China for the construction of the much-awaited second Penang bridge – the largest for any single project given to a foreign country by China.

RM1.7 billion in 2007 is how much in 2017?

Sounds like Obama. No sense.

You think people in the red dot better off?
How many % of your CPF are invested in GIC/Temasek ?(via SSGS .) Although issued and guaranteed by the government -isn't it oneself guarantee oneself=as GIC/Temasek are govt entities?
How many % of these are in invested in high risk countries like China, India, Brazil ect2

Our ASEAN neighbours are chimpanzees who can't manage money or delay gratification. Sinkapore prospered by playing the bagman role for the rich and powerful.

Now with a giant playing the new banker, Sinkieland should find a new role quickly