Economics Explained
Could The Philippines Predict Our Next Decade?
Jun 21, 2024
Explore the economic growth and challenges in the Philippines, including corruption and inequality. Learn about the historical ties between the Philippines and the USA, as well as the impact of outsourcing. Discover why major companies favor the Philippines for outsourcing over other countries and the economic landscape of the country.
18:30
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Quick takeaways
- The Philippines is rapidly growing due to its workforce and stability, attracting global businesses for diversification.
- Despite economic growth, the Philippines faces challenges like corruption, income inequality, and governmental dependencies.
Deep dives
The Philippines' Approach to Economic Growth
The Philippines is strategically leveraging its people and resources to catch up rapidly with other advanced economies in Asia like Taiwan and South Korea. By focusing on developing its workforce and emphasizing its stability amid growing divisions in Southeast Asia, the Philippines is becoming increasingly attractive for businesses looking to diversify operations beyond China.
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