It is not acceptable to see Philippines as a fourth world country.
The recent assessment and deliberation in this report shows that we are falling into this category in looking at the datas presented.
There are indicative proof that we are slipping into a fourth world economy as manifested in some sectors of our industries and in the datas that had been showed.
Nevertheless, the question is what has been the problem why such status is awarded to us which is not kind.
The problem is how we've dealt with our economic policies which resulted under this administration of President Duterte.
At the very start of his few days in office, his meeting with the Chamber of Commerce falls short to address the economic policies of the government. From there, it shows that the loss of sound economic policies of the president made the slip of the country after one year.
We don't blame alone this administration but all of the preceding had been in the wrong business of attending to the economic woes of the country being concentrated in political policies of the state.
The current administration has carried the suffering economy of the past, but situations was made worse by the handling and lapse on economic plans to date. The indicative experience is the losing value of our peso against all foreign currencies and we are rated to be the worst in Asia.
The fourth world status is close to reality if we will not avert the situation and face the facts that business make the economy and not politics.
The stifling regulations and laws that impede growth of more businesses in the country is a factor why it was stunted. We hardly see that more businesses will make the economy grow and better, and not about politics and concentration on drug wars that makes bad perceptions abroad makes more trouble. Drug war is a menace that can be done accordingly with the rule of law and not blatant that was expressed in speeches and words that worsen more into bad image offshore.
Economy must have been the war. To battle trade deficits and reverse trade imbalances with other countries.
Our bilateral trade agreements just become in the disadvantage position due to we are not an industrialized country. We don't make high end products that sells well abroad, or we don't have enough products to sell as a counter trade, in the field of new developed products and technologies.
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