{"id":1708,"date":"2009-08-06T09:51:15","date_gmt":"2009-08-06T14:51:15","guid":{"rendered":"http:\/\/onthe8spot.com\/?p=1708"},"modified":"2009-08-06T09:51:15","modified_gmt":"2009-08-06T14:51:15","slug":"repost-dr-doom-on-the-philippinesrge-are-there-bright-spots-amid-the-global-recession","status":"publish","type":"post","link":"http:\/\/onthe8spot.com\/index.php\/2009\/08\/06\/repost-dr-doom-on-the-philippinesrge-are-there-bright-spots-amid-the-global-recession\/","title":{"rendered":"rePost: Dr Doom on the Philippines:RGE – Are There Bright Spots Amid the Global Recession?"},"content":{"rendered":"

Philippines<\/a>
\nThe Philippines’ stalwart consumers saved the economy from the recessions<\/a> that plagued its more export-dependent neighbors. Remittances<\/a> proved surprisingly resilient despite the global economic slowdown as Filipino laborers, especially professional or skilled workers, continued to find strong demand overseas. This was partly due to the government’s diligence in forging new hiring agreements with several countries<\/a>. Unperturbed remittance growth shielded domestic demand from high unemployment<\/a> rates at home, which is obscured by the country\u2019s very loose definition of employment<\/a>. In the meantime, however, dependence on external demand for Filipino labor denotes a lack of progress in developing the local economy. Apart from land grabs by Persian Gulf<\/a> countries, the Philippines has attracted little foreign investment of the kind needed to create jobs and lift Filipinos out of the poverty<\/a> that afflicts a third of the country\u2019s 90 million people. (For more, see Philippines 2009 Growth Outlook: A Recession-less Bright Spot in Asia<\/a>?)
\nvia RGE – Are There Bright Spots Amid the Global Recession?<\/a>.<\/p>\n

\"Reblog<\/a>