During his visit to New York late last month, President Marcos Jr. announced that his administration would pursue a “slightly different” approach to the controversial and bloody drug war of his predecessor, Rodrigo Duterte. “It is certainly my view that enforcement, which has been the part of the drug war that has been most vigorously pursued by President Duterte, only gets you so far. And my approach is slightly different,” Mr. Marcos said at a forum
With the peso-dollar exchange rate now seemingly courting P60 to the dollar, our economy appears to be suffering from a case of LDM, or loose dollar movement. Dollars are indeed flowing out of the country for various reasons, foremost being how the US economy is sucking in its own currency with its rising interest rates. The US Federal Reserve Bank has been deliberately raising its rates to mop up too many dollars in circulation, which has caused inflation rates Americans have not seen in decades. High-interest rates make US financial investments more attractive, unless other countries match the US interest rate
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