Economic Conditions And The Philippines

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...of the Philippines, located in the western Pacific Ocean, consists of more than 7,000 islands. According to encyclopedic information, only 460 of the 7,000 islands are larger than one square mile in size and only 11 islands count for the majority of the Philippine population (Encarta). The Philippine Islands lie approximately 750 miles east of Vietnam. To the north is Taiwan and China, to the immediate west is the South China Sea, to the east is the Philippine Sea and the North Pacific Ocean (Encarta). Agriculture serves as the primary driver for the nation's economy. However, manufacturing and has become an important part of the economy over the fifty-plus years since World War II.
The Economy
Relatively speaking, The Philippine economy fared better than many of its neighbors during the Asian financial crisis of the late 1990s. In an interview with the nation's finance secretary Jose Isidro Camacho, Frederik Balfour (2003) explains...

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