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The Emerging Markets Handbook: An analysis of the investment potential in 18 key emerging market economies by Pran Tiku

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Chapter 10: Philippines

Overview

In the past the Philippines has been blighted by corrupt and incompetent leaders who drove most hard working Filipinos abroad to look for work, but lately times have been good. The $250 billion economy surged 7.8% in the first quarter of 2013.

Luxuries unimaginable just a few years ago are now tantalisingly within reach of the middle class. Many credit this new vitality to the policies of President Benigno Aquino III, who was elected in 2013. However, 28% of the population still lives below the poverty line and there is much work to be done to sustain this momentum.

Quick history

The first inhabitants are believed to have arrived at the archipelago in the South China Sea via rafts or other primitive ...

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