China pledged US$30.5 billion in development aid to the Philippines between 2015 and 2023 – the most for any Southeast Asian country – but only a sliver of that funding ever arrived, according to new data from an Australian think tank report.
Of the total pledged, just US$700 million was actually disbursed – a shortfall analysts attribute to derailed infrastructure projects, changing political winds in Manila and rising tensions with Beijing. These factors have not only stalled flagship ventures…