The Philippines may be part of the world’s 20 largest economies by way of worth in lower than three many years due to its massive inhabitants and fast-improving industries like manufacturing, in line with BMI Analysis.
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The Philippines had a very slow paced track record of progressions. If you look at most of the millionaires, billionaire, they’re mostly comes from old money they don’t produce new and self made millionaires and billionaire or even trillionaire. Looking at at their list of forbes list the people that whose on the list are mostly from after the USA gave the Philippines their independence and most of them decedents of the colonial aristocrat had billions and millions are old money and it’s very unfortunate. That’s how you know that the countries progression is really slow and corruption and red tape is pretty transparent I mean compared to California the Silicon Valley had produced more than any country of new millionaires billionaires and trillionaire’s that’s progress. That’s why it’s so hard to alleviate such poverty in the countries.
Reason of Growth in the Philippines
1. Population = large labor force
2. Foreign Investments = Mainly in Japan, South Korea, and China. (Most companies in US prefer to go Vietnam or India because of low labor cost)
3. Trades = primarily Nickel and coconuts
4. Companies going to Philippines for outsourcing = Most of Filipinos speaks English so its no surprise
5. OFWs i think = Most of the income they get in other countries are transferred in the Philippines which leads to moderate consumer spending which still benefits our economy
Indonesia will be number 4th in the world after china india usa, with approx GDP 12 trillion USD
The Philippines will never get there as long as the cost of power is expensive.
Corruption is the only hindrances to growth ❤❤❤ may Bbm tacle this monster
Chinese rises in economy is good for the Philippines
🇵🇭
Apressiate to fillipine..love from indonesia
I highly doubt China taking over as number 1. It will actually be opposite. China will struggle economically. All those fake or cheap made products they make won't be sold anymore.
Yayaman na pala pero bakit di ko ramdam😂😂😂
Good for my money money
Tuloy tuloy yang progress basta stable tayo politically. Sana walang gulo politika ang mangyayari sa future para sana naman maging totoo ang forecast na ito
That's just a dream lol. Philippines won't even develop its own warships and other things so how would Philippines become like that 😂😂😂😂😂😂😂😂
We have to fix our political system that’s the problem. Filipinos should start thinking smart
Di na uublad pilipinas sa mga politiko pa lang puro corrupt haha😂
2050? One should eat really good food and constantly physically fit to witness the country's progress. We have plenty of young skilled work forces but we have terrible systems here at the moment to take care for the aged.
this is based on population..what was no considered is the advancement in technology like AI….china will never pass the usa …china's data now is being questioned as suspicious & manipulated….then there's the west now denying advance technology to china neighboring countries boycotting chinese products… right now is struggling in advance computer chips chinese development & manufacturing…china may even be surpassed by india if the trend continues…
the philippines is not getting a fair share in the companies exiting china because of lack in infrstructure & skills development…corruption is still a big hindrance …
the big plus of the philippines isonly in its importance in the usa's ' 1 st island chain strategy' to contain china….. so dollars will keep on pouring to the country…
I think it's too early to say. Many more presidents will come and go and who knows how their laws and policies will affect us economically.
Cut the poverty, equalize wealth distribution.
😊😊
its a long process to build a strong independent nation, truly –
1st anyone who doles out 500 peso per house to get a vote needs jailed.
2nd no family members are allowed to be appointed by anyone in power.
3rd all funds going in and out of public officials pockets are transparent for all to see on a web site.
4th outside supervision of all projects and construction costs and who is profiting from materials purchase and all transparent on public web site.
5th all donated items from other countries are freely given promptly to the public they were donated to not held as bribes and stamped with election propaganda and doled out as if the mayors or congressman bought them as a gift out of his own pocket.
6th create a national program to get clean drinking water to each and every home that flows all day every day.
7th create a national program to ensure electricity flows to each and every home daily all day without brown outs.
8th supply actual school books to children and have all nations curriculum be equal level at all ages and grade
levels.
8TH eliminate corruption in all police forces and fund massive military expansion to protect your country.
9th create a strong industrial base with govt incentives and foreign investment where the foreign investors will benefit fairly and not be penalized for not being filipino.
10th create a national program to clean litter and waters of trash and provide a national trash collection program to recycle and compost and deposit all trash in all areas of the country.
11th make use of all the foreign investment opportunities already inside the country in the expats who live and have families there but are penalized by law from building a business and hiring workers and owning land to create progress and create good paying jobs, nobody wants to invest in this if they have no rights or ownership to protect their investments and the amount of funds and skills and knowledge that would immediately become available to benefit all of the philippines is huge free and already in place.
What RUBBISH! With a GDP of only 400 billion now , about the same as Vietnam but less than Thailand. the gowing population is a negative NOT a positive and in the Philippines there is more and more and more poverty, beggars in the street, no social welfare net, huge corruption, homes made of tin, going rusty before your eyes……….the country NEED reform, but wont get it unless it allows foreign investment without the strings it currently imposes, without the corruption and manipulation that currently exists, without the denial that these things actually DO exist! It's infrastructure is rotten, it's political instutions don't work, the bureaucracy is horrible, example a city hall for every city? em[oying about 1,000 perople each? Pulic officials dont reply to questions , Barangy Captains ignore City Hall directives, Traffic enforcers that just stand around in FLOCKS flapping their arms and hands aroung in the air meaninglessly, NOPE nothing good is happening until a lot of bullshit is swept up and disposed of and the people get some social justice.