By several standards, the Philippines has fallen behind her East Asian neighbors and suffer from predictable consequences. It is often said (and bragged) that the per capita income in the Philippines was second only to Japan in the 1950s.

Rosa Maria Alonso i Terme, an economist from the World Bank who was also recently a visiting professor at the University of the Philippines School of Economics (UPSE), reported that almost 60 years later, in 2012 it had slipped down the rankings of the region behind all the by-now-developed countries, such as South Korea, Taiwan, and Singapore, and all the upper middle-income countries, such as China, Thailand, and Malaysia. In addition, Vietnam and Indonesia had overtaken the Philippines in education results (Program for International Student Assessment tests), and were fast approaching it in income levels.

This drop down the rankings is not unique to the East Asian context. I Terme also observed that the Philippines is now also below the income per capita level of almost all Latin American countries, ranking below Guatemala. The World Bank meanwhile noted that the country also exhibits the highest level of income inequality and the lowest rates of poverty reduction in East Asia during the 1980-2010 period. Even more worrying, despite increasing growth in the 2000s poverty increased steadily from 2003 to 2009 and only registered a statistically insignificant decline from 28.6 to 27.9 percent between 2009 and 2012. The country also exhibits the highest tuberculosis prevalence rate in the region, and infant and maternal mortality rates that are significantly higher than the region’s average.

 

For the rest of the article, please click on the link below:

 

http://www.interaksyon.com/business/96758/reversing-downward-trend–ph-needs-new-politics-with-a-new-tax-culture-at-its-core

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