Returning the Favor

I think I know why Enrique Razon of port operator ICTSI got involved in the ZTE mess: his latest port operations now include one in Shandong province in China.

He may have gotten this deal in exchange for you know, a similar deal for a Chinese firm to expand its operations in the Philippines.

I read somewhere that Gloria initially raised objections to the broadband network project. What made her make a 180 degree turn is obvious: she helped Razon snatch the deal in China. In exchange, Gloria and Razon had to return the favor and facilitate the Chinese company's getting the deal for the broadband network. That is why suddenly, you have Gloria pushing for the deal despite widespread objections ("media attacks," according to her).

Problem was that this project made no economic sense whatsoever.

To appease the Chinese, I think Gloria and Razon will be hard-pressed to come up with another project that will benefit another hand-picked company of the Chinese government.

You can be sure that this time around, it will be more carefully prepared.

(Marc, analysts and economists love to speculate).