President Benigno Aquino takes the Philippines forward
Recent economic figures point to a resurgent economy in the island nation
Hongkongers have long regarded the Philippines with barely-concealed contempt.
Decades of misrule stemming from the gross abuses of the Marcos Era have left the republic trailing badly at a time when “Asia Rising” was the dominant narrative.
However, times have changed. The Philippines is no longer a basket case.
The nice Filipino lady you meet on the plane is more likely to be a software designer on a weekend break rather than a domestic worker.
The numbers reinforce the archipelagic nation’s surprise emergence, underlining a possible shift in Asean as both Vietnam and the Philippines, former laggards, display their mettle.
According to the World Bank, from 2011 to last year, the Philippine economy grew by an average of 5.95 per cent, surpassing Vietnam and Indonesia’s 5.7 per cent as well as trouncing Singapore’s 4.2 per cent.