Marcos 2.0 likely to accelerate Philippines' backward slide

William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."

Pinpointing inflection points is hard enough in highly developed economies, never mind one as cacophonous as the Philippines. But voters just delivered one by returning the disgraced Marcos clan to the presidential palace in Manila.