Abstract
This study elucidates discourses on how the flow of debt and capital creates a series of unmitigated booms and busts for domestic economies. Drawing comparison from the economic model of China’s Belt and Road Initiative and the Philippines’ Build Build Build, the presence of both crises and opportunities in fiscal expansionary policies shows the instability and irony of this model of development. With numerous developing countries in the 70s and 80s transformed into debt and aid-dependent states, the Philippines’ trajectory of being indebted to China’s expansionist policies are analyzed and made lucid – exhibiting and historicizing the complex character of a twenty-first century development state.
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KEYWORDS
BUILD BUILD BUILD, BELT AND ROAD, CHINA, DEBT
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