Philippine economic growth 'only looks great on paper' - The Atlantic #juanvote

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But that economic growth only looks great on paper. The slums of Manila and Cebu are as bleak as they always were, and on the ground, average Filipinos aren't feeling so optimistic. The economic boom appears to have only benefited a tiny minority of elite families; meanwhile, a huge segment of citizens remain vulnerable to poverty, malnutrition, and other grim development indicators that belie the country's apparent growth. Despite the stated goal of President Aquino's Philippine Development Plan to oversee a period of "inclusive growth," income inequality in the Philippines continues to stand out.

[Above excerpt taken from "The Grim Reality Behind the Philippines' Economic Growth" published on The Atlantic.]

Comments

  1. AnonymousMay 9, 2013 at 8:42 AM

    so only the capitalists are earning. Well, if you can't beat em, join em. become a capitalist by investing in mutual funds. Start with as little as 5,000 pesos

    ReplyDelete
    Replies
    1. AnonymousMay 9, 2013 at 9:29 AM

      5,000 pesos is the salary of a husband for a month, who needs to feed a wife and five kids or more...

      Delete

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