Friday, October 04, 2013

Blog #4 Moody’s Gives Philippines Investment-Grade Rating

As the theme of my Blogs have been focused on the Philippines and its divided sides of the rich, middle, lower classes and the affects of government corruption. As I mentioned before, the country was plagued with citizen protest stemmed from briberies, sexual harassment and misused funds that actually benefited Jeane Lim-Napoles, the daughter of Janet Lim-Napoles lavish lifestyle along with other politicians and law enforcement. With a country that exports goods ranging from household products to electronics, if there were paved roads, better working conditions or the $141 million that was tied up with corrupt officials, maybe worker standards and morale would be higher. But according to this article, this country was once labeled the  “sick man of Asia” is now “The new growth path is being reinforced in part by improved fiscal management. Revenue growth has accommodated sizable increases in infrastructure and social spending.” Now imagine if this country who has shown positive growth for the past eight years actually had an lower rate of corruption, the percentage of growth would exceed the double digits and the clear presence of modernization would be visible countrywide. But as we talked earlier in class, white collar crimes are very much present but President Benigno S. Aquino III has really made an effort to combat corruption, poverty and tax evasion. To go along with this, his diversification of the economy should jump-start the country's problem along with gaining support from the protestors but that will be one of the biggest hurdles, the transfer of wealth to the lower class.

Sean Odom
10:19 p.m.

No comments: