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As stated above, the Philippine industrial sector is now growing at a 6% rate. Similarly, the
Philippine GDP growth is at 5.9%. In the past, the Philippines had corruption when under the
regime of its previous president Marcos, who was very much dictatorial. However, since that
administration ended, the Philippines became more economically liberalized with more elements
of free market business ultimately leading to this GDP growth rate. However, as also mentioned
above, with the election of Duterte, which is shaping up to be another dictatorial regime, will the
GDP start to decline? My prediction is that it will. For example, earlier this year Duterte was
threatening trade between them and the US, as well as other countries. I trade were to decline
because of this, the economy would suffer as consumer prices rise.
Reflective Summary:
I think that he Philippines have a good start to becoming a great economy in the future. It
has already increased its exporting and trade with other countries, and the GDP is growing as a
good rate. What worries me is the election of Duterte. Will the election of such a controversial
person as a leader affect the economy so much it will go into a recession? The Philippines has
had a lot of good growth in the last several decades and was (or still is) projected to be a
significant competitor in the Asian manufacturing markets. Its movement away from agriculture
and into manufacturing helped to advance its economic progress.
With President Duterte I feel like he will cause some negative affects to his economy. A
major concern is his death squads, whose actions have been favored by the president. President
Duterte has been getting approval from his people on taking this extreme stance on crime and
drugs. In the last few years, the drug use and crime rates have been rising, and understandably
the citizens of the Philippines wanted something to be done about it. The resulting death squads
have been flagged for obvious human rights violations. Eventually the goodwill of those who
elected him will turn as they realize that with no official criminal justice system, there will be no
security in going to the police who could arbitrarily kill you with no evidence with the approval
and pardon of the President.
On the other hand, he is also inflammatory in his speech in regards to neighboring and
powerful countries. With the present human rights violations with his death squads and his
incendiary speeches, hes driving the rest of the world to isolate the Philippines. One of the most
effective ways, and the one that is most likely to be used, is a rise in trade barriers with the
country. As mentioned, its manufacturing industry is what is majorly responsible for the past
years economic rise. If the countries it exports to suddenly raise tariffs or other trade barriers, it
will stagnate the rising industry.
In my opinion I see the President Duerte is going to hinder the economy. The people of
the Philippines may have to impeach or somehow corral the actions of their president in order for
the economy to rise as before. They need to maintain their growth in manufacturing by getting
more trading partners, and not denying trade with countries willing to buy.