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The Filipino millennials (born 1982-1994) and post-millennials (born 1995 upward) may not be aware that the Philippine government has been relying on borrowing as the main instrument in managing the economy since the 1960s. The economy has become a debt-driven one for around six long decades. This is equivalent to…
After one year and three quarters of rolling quarantine programs (ECQ, MECQ, GCQ, MGCQ), the surge in Covid cases appears to be subsiding. The economic toll is terrible—a gross domestic product (GDP)growth rate of minus 9.5 percent in 2020, the worst since the end of World War II. The quick “V”…
Part two The amazing success of China in posting an annual gross domestic product growth rate of almost 10 percent in four decades (1980-2019) has triggered a debate among Western economists on the superiority of the so-called “Beijing Consensus”over the “Washington Consensus” in the promotion of growth among developing countries.…