With growth rates approaching eight percent, the Philippines is now the now home to the fastest-growing economy in East Asia, says ISA — International Strategic Analysis. It’s 27 years since popular protests overthrew Philippines dictator Ferdinand Marcos — and the country is still on a very tough democratic journey. It has often been written-off as the basket case of East Asia. But right from the beginning — unlike Egypt — the Philippines succeeded in handing over power to elected successors — however flawed and hopeless they might have been and the military stood by Corazon Aquino, the first ineffective post-dictatorial president – despite there being nine coup attempts to topple her. My message — hang in there Tunisia.
. This marks quite a turnaround for a country that had fallen far behind most of its neighbors in terms of economic growth and its ability to attract foreign investment. Moreover, there are signs that the political situation in the Philippines is becoming more stable, a develop that could lead to an influx of foreign investment, something that would enable this recent surge in economic growth to be sustained over the longer-term.