The Philippines' descent into the Sick Man of Asia
is bracketed by inflexible labor policies and by a self-defeating agrarian reform program.
We were no longer the sick man of Asia
and was in fact its newest Tiger.
Fortunately, international recognition of the country's vibrant economic outlook through rankings such as these indicates that the sick man of Asia
is nearing full recovery,' Gatchalian, chair of the Senate committee on economic affairs, said in a statement.
The Philippines, once known as "the sick man of Asia
", also posted the second strongest annual economic growth in Asia of 7.1% in the third quarter, lagging only China and outpacing the 6.2% expansion of Southeast Asia's biggest economy, Indonesia.
(4.) Yanzhong Huang, "The Sick Man of Asia
: China's Health Crisis," Foreign Affairs (Nov./Dec., 2011), 119-136.
A decade ago, Indonesia was the sick man of Asia
. After 32 years of rule by Suharto, who oversaw a system of entrenched corruption and nepotism, it stood on the brink of political, social, and financial collapse.
''For an emergent tiger economy, the Philippines is back once more to being the sick man of Asia
,'' she said.
For decades, the Philippines was the sick man of Asia
. It actually had a very strong economy in the early 1960s.
Meanwhile, the Philippine economy fell farther behind its Southeast Asian neighbors, earning a reputation as "the sick man of Asia
The Philippines, once dubbed as the sick man of Asia
, has been enjoying strong growth over the past year, consistently buoyed by overseas Filipino remittances, the booming business process outsourcing sector and the strong services sector.
"Ang gusto ko makatulong, nais ko makaahon an gating bansa...hindi ko tanggap na ang Pilipinas parating sick man of Asia, parating may nangyayari or hindi makasabay sa mga iba't ibang karatig bansa na mas mabilis ang pag-unlad (I want to help, I want our country to rise again...I cannot accept that the Philippines would always be the sick man of Asia
; where there is always something bad happening or that our country cannot keep up with neighboring countries in terms of development)," Roxas said.
The best way to debunk it is to read up on the Philippine economy in 1983, find out the peso exchange rate to the dollar, and the bankruptcy that led us to be labeled 'the sick man of Asia
.' Imagine how the country's economy slid from being second only to Japan in 1962.
Without that, the nation would have remained in the fiscal hell we used to be in during the time we were derisively called 'The Sick Man of Asia