The country is a point of interest because it has been showing positive economic developments that was not present in the past. For decades, the country has been relegated as a basket case of Asia or the…
Philippines can be considered as the most westernized country in Asia. It has been colonialized by Spain for 330 years and by United States for few years. So it can be said that the country is very religious and westernize in orientation. The semi-feudal economic and political set up in the Philippines could be ascribed to the Spaniards feudal influences and its inability to become truly independent and to progress during the previous decades was due to its dependency to United States and its extensions, the IMF and WB. For decades, the country has been ruled by its oligarchs where its economic gains are only shared by few. Its political landscape was also marked by political upheavals experiencing three revolutions to depose a president.
The country however has one of the highest literacy in the world and also have one of the highest number of English speaking people in the world. Its workers are known to be skilled and many left the country for greener pastures. Some reforms were instituted in the aftermath of the 1997 Asian Crisis which strengthened its economic fundamentals. The growing number of its educated citizens are beginning to demand better governance thus prompting the government to implement economic reforms albeit in a gradual phase. The biggest challenge for the country however was how to stamp out corruption as it had beset the country for decades. Recently, a campaign to clean the government seem to be fruitful as the country are showing gains in economics despite the recent financial recession. In fact, CNN dubbed the country as the most resilient while Bloomberg named Philippines as the fastest growing economy in the world.
1. The three best source that I found that during my exploratory research are from World Bank report, Bloomberg and CNN. These sources are considered best during my exploratory research because they are credible and reliable that relies their report on hard facts and figures than opinion. These ...
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