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Essay / Research Paper Abstract
This 5 page paper examines the Philippines a potential business destination. The paper starts by examining the economy of the Philippines; its’ performance, its’ structure and its’ trade patterns, the nearby economies of Malaysia and China are also outlined. The paper then considers some of the potential issues management may face with setting up a business in the Philippines including the cultural differences. The bibliography cites eight sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEphilipp.rtf
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Unformatted sample text from the term paper:
in the area due to these nearby countries. The Philippines itself has a fairly robust economy; during the 1998 Asian financial crisis it was one of the countries in the
area that was least affected. The resilience was aided by a high level of remittances made by overseas workers as well as the absence of a rapid increase in asset
prices immediately prior to the crisis (CIA, 2007). In 1998 the GDP had only a small decline of 0.6%, the economy recovered rapidly following the crisis, with an increase in
GDP of 2.4% in 1999 and then 4.4% in 2000 (CIA, 2007). 2001 did see a slight slowdown in economic growth to only 3.2% which reflected the general economic climate
and the slump in exports, and between 2002 and 2006 there had been an average GDP growth rate of 5% which is reflective of the service sector resilience as well
as the improved position in terms of exports and the agricultural output (CIA, 2007). Despite its healthy level of growth any company considering entering the Philippines as market will need
to take into account that 40% of the population live below the poverty line (CIA, 2007). With the GDP of $116.9 billion1 the GDP per capita is only $5,000 (CIA,
2007). The growth rate for 2006 was 5.4%, therefore, for poverty to be alleviated there would need to be a significantly higher level of growth.
The Philippines have a high population growth rate of 1.76% per annum which hinders poverty eradication programmes which is also made difficult by the highly unequal income distribution
(CIA, 2007). Other economic problems of the country face include high oil prices and interest rates and relatively high inflation at 6.3%. There
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