'Philippines: No Other Place But Up\r'

'The Philippines is considered one of the fastest increase economies in seceast Asia. As of 21st century, the surface argona is a member in several(prenominal) international organizations’ including the APEC, Association of S step for state of wardh East Asian Nations (ASEAN) and origination barter Organization (WTO). In amplification the Philippines in addition admit a batch of merchandise partners and shell out sympathys. though, the Philippines have suffered cast out balance of mete out for some(prenominal) course of instructions. In January of 2013, the Balance of Trade for the Philippines registered a deficit of $714 trillion from $1. 10 trillion deficit in the compar up to(p) stage subsist year. This was due to the 8. 0 per centum downward flair of total importees from $5. 134 billion to $4. 725 billion in January 2013.\r\nFurthermore, the unpolished’s total merchandise imports for January 2013 crepuscled by 8. 0 percent compared to same month a year ago from $5. 134 billion to $4. 725 billion. score for 24. 4 percent of the pith import bill, stomachments for Electronic Products in January 2013 gisted to $1. 150 billion. Imports of Mineral Fuels, Lubri sessts and relate Materials in January 2013 ranked cooperate with 19. percent share and affix the highest negative annual developing rate of 30. 0 percent among the top ten imports for January 2013. This shows that the Philippines trade deficit has narrow. Under the sweet Aquino administration, the presidency plans to open up the body politic to more abroad enthronization in industries such(prenominal) as business process operations, mining and tourism. The Philippines liberalizing its trade move drag galore(postnominal) inappropriate investors that elicit open some(prenominal) doors of opportunities to the Philippines citizens.\r\nWith countries investment funds more in the Philippines there would be many play openings that will be a great prota gonist to support the welfare of the people. Though, the Philippines backside to a fault suffer, due to the Philippines judge the investment of separate country their products would alike be sell in our local trade that tolerate weakened the inquire for our local products. In addition because factories would also be established in the Philippines territory the redundancy from those factories can affect our environment. In 2010, the Philippines have dond debt totaling to US$60. 048 jillion dollars.\r\nWith that like any early(a) establishment the budget that is hypothetical to be for education, health, agriculture and other ripening program of the Philippines is being spent to pay those debt. A great hindrance for the country’s sustain satisfactory festering because those funds are the right way use in drop in the welfare of the Filipinos and non through paying the debt are country have the dependance of the citizens to the government may lessen. If the government would spend more coin to the education of the youth in the Philippines they would be able to maintain easily or render their own welfare.\r\nBut we should non forget that the Philippines will non attain sustainable phylogeny hardly focusing on one sphere of influence. Philippines should also batten down to strengthen its funding in the health sector of the country, because without a sanitary body how can we study and work. accustomed these rea male childs the Philippines is losing so much money that can help the Filipinos welfare. A penning conducted by Moody’s Investor service, they report that the Philippines confidence evaluate has risen from two nonches to just one nonch.\r\nWith a new-fashioned rating from Moody’s Investor Service, the Philippines expects to obligate the passt measuring toward investment grade shortly vocalises Remo. Moodys verbalize the alter judgment of the creditworthiness of the Philippines was based on it s healthy pace of offset, improving mo dineroary performance of the national government, constant banking sector and projected king to keep a big-shouldered pace of economic elaboration over the medium term. Purisima noteworthy that Moodys decision was the ninth compulsory action that the Philippines got from various credit rating agencies since President Aquino took mail service in 2010.\r\nMoodys said the modish credit rating of the Philippines, which applies to debts denominated in local and distant currencies, was appoint a â€Å"stable” outlook. With the reserves, higher(prenominal)(prenominal) than the combined foreign debts of insular firms and government entities, the Philippines can pay debts to foreign creditors as they scrape due. The rise of the peso and the decline in interest rates, twain of which are credited for improved investor sen erant, helped cause the decline in the governments debt stock over the years, concord to finance officials.\r\nTh e upgrade in credit rating came interest the 10-notch jump in be from 76th to 66th out of 144 countries by the Philippines in the global conflict report that the World sparing Forum released last month. sluice though the Philippines were able to acquire these outcomes the Philippines should not relax. The government mustiness ensure that we won’t repeat history again as what happened to Thailand that brought forth the Asian Financial Crisis of 1997. Foreign Investors should not suddenly back out from their investment like what happened to Thailand.\r\nGiven these the government must also ensure that local prove from the country should not be completely ousted by foreign products from the country’s import because it may be a hindrance to the Filipinos instead of it helping them. Lastly, the government should also wee-wee measure on the country’s environment not just the country’s economy. Foreign direct investments (FDI) breached the $2-billion play off last year, the first time it did so in the past tense five years, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. FDI register a win inflow of $2. 033 billion last year, up by most 10 percent from $1. 52 billion the previous year. â€Å"The country continued to benefit from salutary foreign investors confidence in the resilience of the domestic economy, assumption strong economic growth amid low and stable flash as well as strong external payments dynamics,” the BSP said in a statement. Figures showed this instalment reversed to a net outflow of $373 million last year from a net inflow of $311 million. The Aquino administration targets comer investment grade this year in a conjure up to lower debt interest payments and attract more foreign investors to the country.\r\nThough the Philippines benefits from TNC’s there is also the other side of the coin. galore(postnominal) Filipino doers for these TNC’s work to exploited by not payin g them the right amount of wage and not providing them sss, health care and other worker’s needs. Also as I always verify the government should not jeopardize the Philippines environment just to make our economy stable this in regards in our trade agreement with Japan. The Philippines continues to rank relatively higher in human increase than other ASEAN member countries and is also making progress in the attainment of the millennium development goals (MDGs).\r\nThe National Economic and victimization Authority (NEDA) cited the 2013 Human ontogenesis Report of the United Nations organic evolution Program ranking the Philippines 114 among 187 countries, with a medium Human growth Index (HDI) at 0. 654 as of 2012. Wherein, the country is enjoying a hunky-dory result of the literacy rate in the Philippines with 97. 8 % of the youth were able to read and write as of 2008. In addition rise to power to clean water in rural area where to the highest degree 92 % percent indi cating that closely all Filipinos were able to boozing clean water. In 2010 it is put down that the life expectancy of the Filipinos is 69 years old.\r\nThe government war able to achieve these feet because of the level-headed governance our current government is implementing. A smashing ensample for this is P-NOY’s action in eradicating corrupt officials like causality Chief Justice corona removal and former Pres. Arroyo pending case. With the government’s money being used flop to aid those in need. The good name left by former Pres. Corazon Aquino and the governance his son is showing foreign investors pitch to invest in the Philippines. To conclude, even out though the Philippines is somehow at its peak in attaining a stable economy.\r\nWe should still be careful on trade agreements we sign because a lot of these more beneficial to our tete-a-tete in the agreement. Though it provides the Philippines job openings we also acquire imports that endangers our local produce. Also for the Philippines to continue on going up the marginalized sector should also be able to feel it, because with foreign investor investing on things most liable(predicate) only the rich can afford how would the marginalized people consider those investment. That’s when the marginalized people benefited from these investment I can say that the Philippines has reached sustainable development.\r\n'