Philippine GDP Is NOT ENOUGH To Say Philippines Has A Bright Future!
Now I don't deny that the Philippines GDP is growing since Gloria Macapagal Arroyo and as of current, President Nobita Aquino. However there are still other issues that we need to address. First, GDP means GROSS DOMESTIC PRODUCT. However gross does not account the remaining balance because there is still the depreciation expense of the Philippines. What the Philippines needs to consider is... the depreciation expense. How much money is left after they had spend it on depreciation matters and where that money goes is what's needed. Also, how is the money allocated? Now Butcher A-Bad still has a LOT to answer to!
Looking at the Philippines' unemployment rate, it has the HIGHEST unemployment rate and tot hink that Cambodia a Communist country has a lower unemployment rate. This is based on the ASEAN chart. Unemployment still needs to be ADDRESSED!
Consider this factor also from the Bangko Sentral ng Pilipinas charat above which has shown that the Philippines has the HIGHEST unemployment rate in the ASEAN. Economist Ben Diokno as an economist had refuted the idea that our economy is really Asia's next miracle. ABiaS-CBN News Network is just mixing truths with lies just so.... they could keep making President Nobita look like he's a miracle worker. If the economy was really good, why is the Philippines still relying on OFWs and families are getting torn apart. Sad to say but the OFW family scenario can be a very bad one.
You do know why the Philippines lacks jobs? Again, it's no thanks to the lousy 60/40 policy! Again, why do I need to KEEP STRESSING THAT FOREIGN INVESTMENT IS NOT FOREIGN INVASION? All I say is, come on OPEN UP THE ECONOMY STUPID! All I can say is some people defend protectionism as good and that it helped countries without knowing the truth that, protectionism if done wrong will really spin disaster. Yes it does if you restrict foreign competition to the SAME LEVEL as competitors that is make sure they still pay taxes and comply with their requirements just as EVERY BUSINESS, they must respect the laws of the land even if they get 100% ownership. That's the kind of protection that local businesses that should be used, not the lousy 60/40. Too much of competition or too little of it is bad for the economy.