Realities about the Philippine economy

It is more fun criticizing

While other posts praise the growing PHL economy (now no 34 in GDP ranking!!!) others just like this post criticize its performance and say PHL is a house of cards    

As someone who has invested in the countryside, and go around frequently for the site visit, Ii conclude that much local investment has been made and we can not escape the fact that there is progress and much stride has been made in country side development.  And the truth is Western countries cant help but notice the growth rate of the PHL and that it has become an alternative for sites of manufacturing for those who leave China or Vietnam

Certain level of skill and ability has been built on AI, computers, semiconductor and even on infrastructure design and construction by Filipino architects and engineers

Self development personal improvement is prevalent among Filipinos and that is something not mentioned in the article/video.

We can move forward despite the questionable leadership in the country   

Credit Suisse problem is a worldwide financial malaise?

It is more fun criticizing

Ulongnuno on Credit Suisse malaise

Manila Times - bank fears spread to Europe

Credit Suisse share prices dived a quarter on account of bad news about Silicon Valley Bank closure

All ready the prices of shares of Paribas and Deutsche  Societe Generalebank dived.

France's Societe Generale SA dropped 12 percent at one point. France's BNP Paribas fell more than 10 percent. Germany's Deutsche Bank tumbled 8 percent and Britain's Barclays Bank was down nearly 8 percent. Trading in the two French banks was briefly suspended.

Credit Suisse is "a much bigger concern for the global economy" than the midsize US banks that collapsed, said Andrew Kenningham, chief Europe economist for Capital Economics.

It has multiple subsidiaries outside Switzerland and handles trading for hedge funds.

"Credit Suisse is not just a Swiss problem but a global one," he said.

Since the CSB has branches elsewhere in Europe and the world, its problems malaise is not confined to Switzerland but around the world.   Gladly the Swiss National Bank promised a liquidity support up to $54 billion

This post may bear marks of nega and being alarmist.  But is this the global collapse that pundits are predicting? Could this be the start of worldwide recession.  ?  Have we braced enough for this.?

Has our country institued countermeasures. ?  But surely not yet since we are so far away yet  

One of the aspects that we should be concerned about this is the foreign remittances by OFW.  With these bank malaise, banks may tighten lending and if closed cause domino effect on the industries they are supporting..   And this may mean reduced inward remittances   Lesser consumer spending locally

Bad for the local economy.  Should we not be concerned?