STANDARD: EMIL JURADO - Why many consider themselves poor
For one thing, our economy is FUELED MOSTLY by services and consumption from increasing remittances from migrant workers. This inflow however DOES NOT PROVIDE JOBS for a great number of Filipinos. The bull run at the PSE is because of "hot money" coming in. These funds come and go where there is profit to be made. AGAIN THEY DO NOT CREATE JOBS. The strong peso is a double-bladed sword. It's good for imports, but bad for exports. Most of the investments are going to our neighbors - Thailand, Malaysia, Vietnam and Indonesia.
For one thing, our economy is FUELED MOSTLY by services and consumption from increasing remittances from migrant workers. This inflow however DOES NOT PROVIDE JOBS for a great number of Filipinos. The bull run at the PSE is because of "hot money" coming in. These funds come and go where there is profit to be made. AGAIN THEY DO NOT CREATE JOBS. The strong peso is a double-bladed sword. It's good for imports, but bad for exports. Most of the investments are going to our neighbors - Thailand, Malaysia, Vietnam and Indonesia.
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