A Forbes columnist recently wrote an article that stirred a hornets’ nest. The post called out the Philippine economic miracle as a bubble in disguise. While the author has some valid points we should not ignore, many of us do not agree. The Philippine economy is the fastest growing economy in Southeast Asia and one of the fastest in the world.
So, is the Philippine economic growth really a bubble in disguise? Our answer is a flat ‘no’!
I recently had a conversation with my colleague, economist Dr. Alvin P. Ang, who is also the president of the Philippine Economic Society. We both felt that the analysis was rather thin, not very accurate. Truth to be told, his analysis seems delinked from our reality.