Phil Economic Development: a Dream

During the last few age, much has been said ab forth how the Filipino Economy is heary for a boom. There is evidence to story toward that boom too. Look at the Peso, as we close in on the end of 2007 the Peso is standing at sizable b atomic number 18ly more than 40 Pesos to the U.S. horse sign. It was just a lucifer of years ago that we got more than 56 Pesos for every Dollar that we traded! That would appear to be a huge benediction for the Philippine miserliness. But, it really? Well, when you look at it and do a eccentric of analyzing, the hearty Peso is not necessarily a in force(p) thing for the Philippine people. You see, the biggest part of the Philippine economy is gold remitted by Overseas Filipino Workers (OFWs). These Filipino workers go overseas and work. They send a large percentage of their recompense kinfolk to support their family in the Philippines. Most of the contracts of OFWs argon scripted in US Dollars. Three or quartette years ago, when an OFW sent kinfolk $100 to his family, they got around P5,600 expenditure of disbursement power! Now, though, when the OFW sends that same $100 home to his wife and kids, they pull forbidden only P4,000 for it! Thus, the same $100 that he sent home a short while ago, is worthy 30% little to his family now! This is hurting a repair of Filipino families! But, the strong Peso is great for Filipino businesses, ripe? Well, not really.

A lot of export businesses are really going out of business because of the strong Peso! I just read an article in the paper this good morning that a lot of clothing factories i n Bula sess are already going out of busines! s. They produce clothes that are exported to the USA. Now, the clothes are more expensive for the US consumer! Basically, the Philippine company has two choices, they can charge a glare price in Pesos (this charge the price the same in Dollars), or they can upraise the price. What are the consequences of each swear out? If they keep the price at a constant dollar level, they are only get 70% of the Pesos that they got a few years ago. This much of a...If you essential to get a complete essay, order it on our website: BestEssayCheap.com

If you want to get a full essay, visit our page: cheap essay