Economy of the PhilippinesA candidate to lead AsiaEconomic position challenged.Sluggish economic growth.Affected be Asia economic crisisCapitalist market economy in AsiaNewly industrialized country
Economy of the Philippines (2012)GDP: $351.4 billion Inflation: 3.8%GDP growth: 7.3% Exports: $50.68 billionGDP per capita: $3,500 Import: $61.07billionGPD by sector Public debt: 52.4% of Agriculture: 12.3% GDP Industry: 32.6% Services: 55.1%
Economy of MalaysiaCentre of trade for centuries.Affected by Asian crisis.Emerged as multi- sector economy.Rapid economic boom
Economy of Malaysia (2012) GDP : $414.4 billion Inflation : 1.7% GDP real growth rate: Public Debt : 53.1% of 7.2% GDP GDP per capita : $14,700 GDP by sector agriculture: 10.5% industry: 41.4% services: 48.2%
Economy of Indonesia On significant economic reforms. Declining debt-to-GDP ratio. One of the three best stock market performers in the world. Suffered major disasters. Affected by Asian economic crisis.
Economy of Indonesia (2012) GDP : $1.03 trillion GDP by sector GDP real growth rate : agriculture: 15.3% 6.1% industry: 47% GDP per capita : $4,200 services: 37.6% Inflation : 5.1% Public Debt : 25.7% of GDP
Indonesia Economic Strengths Services Agriculture Industry Palm oil petroleum and Rice natural gas Tea Textiles Coffee Apparel Spices Mining Rubber
Impacts of Economic StrengthsSimilarities in Economic strengths.Tourism competitionAll three are behind China.Indonesia and Malaysia slower this year.
Investing in the Philippines: Management IssuesEconomic InstabilityGraft and CorruptionSafety threatsDisasters Natural Man-made
Investing in the Philippines: Management IssuesNon-compliance of relevant business factors: minimum wage laws payment of right taxes health and safety requirements working hours
ConclusionMost Asian countries including Philippines, Malaysia and Indonesia have suffered, and perhaps will be suffering from economic crisis, but these countries have been exerting all their best efforts to get up from the pack. Malaysia has advanced much ahead in is economic conditions while the Philippines and Indonesia are still struggling to improve their economic situation. So far there has been good signs of improvements, despite the different challenges faced.
ReferencesBackground Note: Philippines. (2012, January 17). Retrieved from U.S. Department of State: http://www.state.gov/r/pa/ei/bgn/2794.htm#econPhilippines: Economy. (n.d.). Retrieved from Wikipedia; The free encyclopedia: http://en.wikipedia.org/wiki/PhilippinesPhilippines: Uniquely Rising from Its Past. (n.d.). Retrieved from Thomas White: Global Investing: http://www.thomaswhite.com/explore-the- world/philippines.aspxWorld Factbook: Indonesia. (2012, January 3). Retrieved from Central Intelligence Agency: https://www.cia.gov/library/publications/the-world- factbook/geos/id.htmlWorld Factbook: Malaysia. (2012, January 3). Retrieved from Central Intelligence Agency: https://www.cia.gov/library/publications/the-world- factbook/geos/my.htmlWorld Factbook: Philippines. (2011, December 20). Retrieved from Central Intelligence Agency: https://www.cia.gov/library/publications/the-world- factbook/geos/rp.html