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Friday, February 24, 2006

Philippines: not Again!!

The political condition of Philippines has again become volatile because of coup attempt by some members of the army was foiled. President Gloria Arroyo has already declared state of emergency. There has been violent protest in the streets of between anti government protesters and police. There is no sign of the condition improving and it can only bring more suffering and frustration for the common people.
The condition of Filipino economy is not good at and in the recent months the country has come to the spotlight of the media because of political unrest and natural disasters. This declaration of state emergency will perhaps result into more political unrest. Right now, President Gloria Arroyo is trying her best to hang on to power while opposition parties are determined to oust her sooner or later. The economy has become a victim to this political fighting among the government and the opposition. Strong performance by the private sector and increase in remittance sent from the Filipinos living around the world helped to keep the economy moving in the last financial year. This year too, the amount of money from remittance can raise some and at the same Philippine is witnessing a good performance in Information and Communication sector.
Only one week ago, Filipino government and the private sector jointly declared their vision to make Philippines the animation capital of the world. The country has a lot of highly educated and skilled ICT professionals who are trying their best to take Philippines in the next level. Constant political unrest on such a large scale can only undermine the growth in ICT sector. Specially, Philippines has already made its mark as one of the most attractive destinations of animation outsourcing.
The political leaders of Philippines should try to understand the huge potential of the young generation. Otherwise, the world will see the fall of a country with so much potential to succeed in the knowledge based economy of today.

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