The Philippines, the host of this year’s Asian Development Bank annual meetings, provided an ideal backdrop for a forthright debate on the role of the capital markets in funding Asian infrastructure projects. President Rodrigo Duterte’s administration has embarked on an ambitious ‘Build, Build, Build’ campaign to close the country’s notorious infrastructure deficit. While that kind of initiative is long overdue, it also raises questions over how Asia’s developing economies should be paying for major projects. The Philippines has moved away from...Read more