Clearly, the Philippines continues to see the AIIB as some kind of Chinese Trojan horse to buy the loyalty of neighbors and some measure of territorial acquiescence in exchange for economic carrots. Manila is also not comfortable with China having huge presence in its strategic, infrastructure sectors.
Underneath the rumble of political debates, the tender shoots of a new global consensus around commonsense, practical and progressive economics are emerging. It's what Swedish Prime Minister Stefan Löfven calls the Global Deal -- a new compromise between capital and labor that would ensure shared prosperity by putting jobs at the center of global macroeconomic policy.
As a country, we have continued to lose standing throughout the world as a legitimate voice for human rights, as a responsible member of a community of nations, as an arbiter of peace, or as a party protective of the planet. We have seen our standing reduced from a beacon of freedom to a beacon of financial self-interest.