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Essay / Research Paper Abstract
This 5 page report discusses the economy of The Philippines and its neighbor nations. The different economic sectors and their strengths are considered. Whether or not the strengths of one country complement or compete with one another is considered. Agriculture serves as the primary driver for the nation's economy. However, manufacturing and has become an important part of the economy over the fifty-plus years since World War II. Bibliography lists 5 sources.
Page Count:
5 pages (~225 words per page)
File: D0_BWphilec.rtf
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Unformatted sample text from the term paper:
larger than one square mile in size and only 11 islands count for the majority of the Philippine population (Encarta). The Philippine Islands lie approximately 750 miles east of Vietnam.
To the north is Taiwan and China, to the immediate west is the South China Sea, to the east is the Philippine Sea and the North Pacific Ocean (Encarta). Agriculture
serves as the primary driver for the nations economy. However, manufacturing and has become an important part of the economy over the fifty-plus years since World War II. The
Economy Relatively speaking, The Philippine economy fared better than many of its neighbors during the Asian financial crisis of the late 1990s. In an interview with the nations finance secretary
Jose Isidro Camacho, Frederik Balfour (2003) explains that: "From its position at the eye of the storm, the Philippines swayed while other Asian economies swooned as hot money raced out
of the region" (p. 66). Balfour quotes Camacho as asserting that there is now less of a "contagion effect" than there was in 1997 since, to a great degree, the
leaders of Asian economies have learned a powerful and painful lesson (p. 66). Camacho adds: "Reforms have been undertaken in many economies to strengthen banking sectors and
work on non-performing loans, and also at multilateral institutions. The IMF, World Bank, and Asian Development Bank are more enlightened" (p. 66).
The most important thing that the crisis proved was that there is no such thing as "one size fits all" for national economies. Different circumstances each require their own unique
formula to protect and maintain a national economy (p. 66). According to Parker (1998), the economic fallout of the financial crisis on Malaysia, the Philippines, and Singapore was less
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