This study investigates changes in teacher professionalism in the Philippines in response to globalising education policies, with a particular focus on the impact of the 2017 Philippine Professional Standards for Teachers (PPST) policy introduced under the conditions of official development assistance. With the technical and financial support of the government of Australia, this policy introduces clear indicators of professional competence that challenge traditional views of teacher professionalism and redefine teacher quality. Anchored by the ontological and epistemological foundations of critical theory and critical realism, and the theoretical and methodological framework of the Critical, Cultural Political Economy of Education (Dale & Robertson, 2015), this study explores the underlying mechanisms that have shaped the ideation, development and enactment of the professional standards policy and its impact on teacher professionalism. Based on interviews with policymakers, Department of Education (DepEd) officers, a public school district supervisor, school heads and teachers, the findings of the study indicate the emergence of idealised professionalism, a term used to describe how the context and policymaking process of the professional standards policy was heavily influenced by broader economic, political, and cultural globalisation. However, this idealised professionalism remains primarily a theoretical construct that is not grounded in the actual realities of teaching in the Philippines. The introduction of the policy has resulted in ongoing tension between state regulation and teachers’ professional autonomy. This tension is further complicated by the fact that policy enactment is not always consistent across different schools and jurisdictions, with various cultural practices and contextual socio-economic factors shaping teachers’ agentic responses. Ironically, the institutionalisation of clear expectations for teachers embodied in idealised professionalism has led to teaching practices characterised by complexity rather than certainty. This study makes a contribution to the continuing debate over the role of official development assistance in driving education policies that not only perpetuate neoliberal and neocolonial practices but also fail to align with the local context of aid-receiving countries. It prompts critical reflection on whose interests are ultimately served by externally induced official development assistance project reforms in developing countries. The study recommends redirecting official development assistance towards areas of government where its benefits would be maximised, such as institutional building and capacity development, rather than project-based reforms. Additionally, establishment of a mechanism for local school stakeholders and the local community to actively participate in national policymaking could help ensure that policies are appropriate and relevant to teachers. Lastly, future studies could re-narrativise the globalisation story by concentrating on local contexts and using them as the vantage point from which to better understand the modernisation of education.