December 6, 2013

Development in the Midst of World Inequality

Most of the economic observers; economists, analysts, and the likes, would agree that economic development is not instant. It takes decades before the effect of the past to be realized. Now, the present is the result of the previous government and social actions - high unemployment, underdeveloped manufacturing and agriculture sector; poverty.

It is probable that the present administration has something to do with the current economic problem of the Philippines; yet, the problem is not rooted in the present but on the past government. In passing, it is not the objective of this article to blame or to conclude but to root the cause. The country will not move to development if its method is to blame and not to move forward. The country should move forward and think of solutions - instead of complaining.

The country is not denying that it is home of riches of the rich and poorest of the poor – - and it is not deniable that the statement is not only applicable to the Philippines but also in other countries. The world is experiencing a phenomenon where rich becomes richer and poor becomes poorer (a world with high income gap). In the midst of global growth slowdown achieving a 7% growth is remarkable.

The challenge to the present government is to lay down the foundation for development – by providing policies that will boost service, manufacturing, and agriculture commerce. The country needs to achieve self sustainability if it wants long lasting development. Ensuring that the policies are coordinated from top to bottom is a crucial key to development.

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