By Roberto F. de Ocampo
THE FIRST clear reality that predicates the question above is that it’s a far different world now from what it was even as recently as five years ago. The world economy was once much simpler and, thus, governable when the Bretton Woods agreements were established, giving rise to, among others, postwar global institutions and procedures to regulate the international monetary system, namely the IMF and the World Bank.
By Walden Bello
The economic news on the Philippines the last few weeks has been good. The country’s Gross Domestic Product (GDP) growth rate for the first semester was an impressive 6.1 per cent, which put it in the top tier in Asia, while its “competiveness” leaped 10 notches, to the 65th from the 75th spot, out of 144 countries rated by the World Economic Forum. Most other indicators appear to be pointing in a positive direction.