IS THE Philippines just unlucky? Or are there more fundamental reasons why the country has long been considered the laggard among South-east Asia’s economies?
IS THE Philippines just unlucky? Or are there more fundamental reasons why the country has long been considered the laggard among South-east Asia’s economies?
PREDICT a positive outcome to peace talks between the government in Manila and Muslim insurgents in the southern Philippines these days and you may well be accused of over-optimism.
“WHEN there is no corruption, there will be no poverty.” This was the enticing slogan that helped sweep Philippine President Benigno Aquino to power in 2010.
EARLIER this year, when the Philippine government announced its intention to review mining regulations in an attempt to gain a greater share of mining profits, the move triggered a storm of criticism from industry players.
THERE is a growing sense of euphoria in the Philippines these days that is hard to deny. Such over-optimism needs to be tempered by a dose of reality.
President Benigno Aquino has stepped up efforts to lure foreign investors into the country, so far without much success. The country continues to be hobbled by widespread corruption and several long-running insurgencies.
However, the government has had some success in reducing the budget deficit. The president also remains popular with voters.
WHAT TO WATCH FOR:
My name is Dr Bruce Gale and I am a senior writer with the Singapore Straits Times. I studied at LaTrobe University (BA Hons) in Melbourne and later at the Centre for Southeast Asian Studies at Monash University (MA). My PhD thesis, which focussed on Malaysian political economy, was completed at the Malaysian National University (Universiti Kebangsaan Malaysia) in 1987.
From 1988 to 2003 I was Singapore Regional Manager for the Hong Kong based Political and Economic Risk Consultancy (PERC).
I have written several books and articles on Southeast Asian affairs, including Political Risk and International Business: Case Studies in Southeast Asia (Pelanduk Publications, 2007). Books on language include Mastering Indonesian: a guide to reading Indonesian language newspapers (Pelanduk Publications, 2008)