New findings on Chinese financing in the Philippines are challenging the assumption that Beijing reduced its funding under President Ferdinand Marcos Jnr because of worsening tensions in the South China Sea. Instead, Chinese capital had continued to support Filipino businesses in recent years, including a US$3.9 billion syndicated loan to telecommunications company Dito Telecommunity in 2023, the largest ever China-backed private-sector loan to the Philippines, AidData, a US-based research...