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Over-dependence on Global Economy The growth of the Philippines economy drastically slowed to just 3.6% in the first three quarters of 2011, which is significantly less than the 7%-8% growth targeted by administration’s Philippine Development Plan (PDP). Though the slowdown may have been due to the ongoing global crisis, it was markedly slower in comparison to other South-East Asian.
The Philippines has long been a country with a struggling economy. Ever since World War II, they have struggled to have a steady government and labor system. Independence did not bring any social changes to the country. The hacienda system still persists in the country, where large estates are farmed by sharecroppers. More the half the population are peasants and 20 percent of the population.
Downloadable! This essay is concerned with the broader canvas of economic reforms in the Philippines viewed from the framework of political economy. The first part provides a brief discussion of the rationale for economic reforms. The second part presents a tableau of economic policies in perspective over a long-term perspective covering years before political independence.
The Phillippines' Economy Essay. Length: 1218 words (3.5 double-spaced pages) Rating: Better Essays. Open Document. Essay Preview. The Phillippines' Economy Over the past few years, the Philippines' economy has undergone a remarkable transformation. In the late 80's and early 90's the Philippines were stuck with poor political leadership, economic growth, and slow paced economic development.
Over-dependence on Global Economy The growth of the Philippines economy drastically slowed to just 3.6% in the first three quarters of 2011, which is significantly less than the 7%-8% growth targeted by administration’s Philippine Development Premium1596 Words7 Pages.
Since 2003 the Philippine economic system has continued to spread out. and a trade shortage has become a trade excess in recent old ages. Figure 1: Development of GDP since 1980Beginning: Economist Intelligence Unit ( accessed November 17. 2009 ). Note: The 2009 figures are EIU estimations; the USD base twelvemonth is 1985. Figure 2 shows the existent GDP growing rate. rising prices rate.
A critical goal of the Philippine economy has been an expansion of its product manufacturing base to take advantage of its labor surplus and position itself favorably in the regional economy. The Philippines is a labor-surplus country, and the government has traditionally encouraged the development of labor-intensive industries, such as textile production and the assembly of electrical and.