Future Of The Philippines...

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Jake
Posted
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the future of this country...i do not really know.

For sure they have the man power, technical knowledge and natural resources to go high up and fast

The will and interests of the ones managing these resources is another thing and that is what keeps this country where it is. for how long will it last?

i am a man rather stupid and i like to analyze things as simple as possible.

  • Main source of income of this country is the income from OFW. they get paid in dollars and other currencies, they make them peso and spend them here. A peso worth 10p/1$ (which means a strong economy) would immediately disappear all the OFW from the face of earth since no one would pay them that high. See a pinoy abroad who makes now say 1000$/month=42000peso, in the case of 10p/$ then for them to make the 42000p they have to get paid 4200$, no one will do that!!!! So that source of income goes down and away.
  • Filipinos abroad are some of the worst investors ever due to their needs and culture. All their money goes in a house, help for useless relatives and perhaps a sari sari store or an FX or a jeepney or a food cart hopefully in the mall. Some come with big packages and they throw it all in a nitch elegant business which they probably never worked it before, loose everything. So there is not much of hope from the OFW for financial development of the country, other than sending their salaries.
  • Corruption, pollution, bahala na attitude and a sick mentality towards to work and living are factors hard to change and takes strong political power to do so, none so far has proven to meet not even an inch of these issues.
  • Condominiums, resorts, malls, casinos, and luxury small cities pop up all the time, that is not progress of the country, that is profit of the clevers who know how to take away the money of the new middle class pinoys by placing them in a 30m2 cage for the price of a 150m2 house with garden.
  • The country is not progressing by changing faces, manila has changed a lot the last 9 years for what i have seen. they made and still make new highways and roads, they make huge profit from it too, the tolls have forbiden prices for the low or middle class filipinos.
  • Public services are from non existing to ridicoulous, civil rights exist on papers, public health care, pansion system etc etc we all know where they are and what is done to become better...nothing.

Therefore one thing is making money in a country and another if the economy of that country is good. So i can only see this country stagnant here where it is for the next 50-100 years. Not unless a political will rises and changes all that, make the impossible reality.

My good friend Joe is a senior Maritime Officer (love boat cruise liner) who has traveled quite extensively.

I value his opinion and in this case, the above post is right on the money!

Well done sir -- Jake

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Dave Hounddriver
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A Canadian dollar buys 40 Pesos today. Down from 44 a year ago. My wife's favorite style of Lechon Manok cost her 130 pesos today. Up from 100 a year ago.

If this is the trend that is to continue then I can't say I care about the future of the Philippines as I won't be able to afford to live or visit here before too long. I tried to explain to my wife that it is like having your 10k peso a week budget slashed to 8k peso a week. 10% from the exchange loss and 10% to inflation. She said: Thats nice. (Like she understood a word of it.)

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Jack Peterson
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:attention: So in reality! the PI is catching up with the rest of the World. even if it is only with Inflation.

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TheMason
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In my opinion, the Philippines is a lot closer to a failed state than economic boom times. Will things change in the next 5 years? Yes they will. The population will continue to grow, the infrastructure will continue to decay, and the crime and violence will get worse. The main reason I left the Philippines is that I don't think the country has much of a future. I want to get my wife dual citizenship before we return to the Philippines. If things go bad, we can both move back to the US.

I've got another 3-5 years before we'll be ready to move back to the Philippines. If things aren't too bad from a crime/stability standpoint, I think we'll be OK retiring there.

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i am bob
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I understand the cost of TVs in Cebu are coming down...i

It's not just the Philippines! Dave, when was the last time you bought basic veggies in a grocery store in Canada? Remember lettuce used to be around $0.85 CDN? Just last winter in fact! Now it's $1.50! Tomatoes are anywhere from $0.90 lb to $3.60 per lb. I just saw the first of the field crops for sale - $1.20 per lb. I haven't bought peas for over a year now because they doubled in price... Same with corn... Potatos - new crop - over $3.00 for 10 lbs? And that's the cheap ones?

Prices may be going up in the Philippines but I can't afford to live in Canada much longer... I figure I've only got months left before I go broke just buying my groceries!

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Jack Peterson
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:unsure: Well fellow members, according to this latest list. The PI is not so bad. In fact if you look at the previous years The PI has actually reduced Inflation, it is not far above the UK at all. and for that matter it is fairing quite well against the US To me far from a failed Country. I am no economist but facts speak for themselves.

:tiphat:

http://www.tradingec...list-by-country

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Dave Hounddriver
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I am no economist but facts speak for themselves.

That is true:

Historically, from 1958 until 2012, Philippines Inflation Rate averaged 9.1000 Percent

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cebu rocks
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i am a man rather stupid and i like to analyze things as simple as possible.

You nailed it . How many years have you lived in the Phils ?

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Beachboy
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Because it is a slow night, I’ll throw out some thoughts about the Phillippine economy .. thoughts of an outsider to be sure but also thoughts from someone who’s worked in economic development most of his life.

First the Philippine economy is growing rapidly – it’s expanded by about 300% in the last 10 years. The inflation everyone talks about is caused by this growth. The peso is getting stronger than the dollar becasuse the Philippine economy is growing so much faster than the American economy. That’s a good thing for the Philippines (but not so good for ex-pats of fixed incomes :bash: ).

Wages in the Philippines are also growing rapidly. This also causes domestic inflation (i.e. the price of your favorite lechon goes up). But this is also a good thing as long as wages grow faster than inflation. And wages are growing. The average daily wage in the Philippines is now among the highest in S.E. Asia (I believe only Malaysa and Singapore are higher). It might surprise you to know that wages in the Philippines are twice has great as in China, 5 times higher than Viet Nam and Thailand.

The country has huge untapped mineral resouces, some of the largest in the world. We’re talking about gold, cooper and chrome. It also has the potential to be self-sufficient in energy production by using it’s hydroelectric, geothermal and natural gas. It’s already one of the world’s leading producers of semiconductors and it’s automobile assembly industry is one of the largest in Asia outside of Japan and Korea.

International investment banks now predict the country will grow in the next 30 years from it’s current rank of 46 to about the 15th largest economy in the world. So there’s improvement ahead. But why all the poverty? Monopolies. A huge chunk of the national wealth is concentrated in the hands of a small number of families. Hopefully this will change.

So I’m bullish on the Phils. IMHO if you want the Phils to remain a place where you can live like a king on $2000 a month, then you are also wishing that millions of people in these beautiful islands remain impoverished. Having endured homelessness for a short while myself, I couldn’t wish this upon anyone. I’d like to see the day when the people in the Phils are as rich as the people in the US of A. That would be just fine with me.

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cebu rocks
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It might surprise you to know that wages in the Philippines are twice has great as in China, 5 times higher than Viet Nam and Thailand.

Thats a shocker any reference info on this ? I know people who want to move there factorys from China here because the cost of labour is double in China . China is not a 3rd world country

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