Philippine Economics Corruption

By Arnold S. Tenorio, Senior Reporter

POLITICAL instability, rather than China’s cheap labor, accounted for the decline in foreign investments in the Philippines, a leading China expert said.

In a paper delivered at last week’s annual meeting of the Philippine Economic Society, Ellen Palanca, executive director of the Ateneo Center for Asian Studies, noted that the macroeconomic and political stability of other Asian countries has helped them retain a fair share of incoming foreign direct investments even after the East Asian currency crisis of 1997.

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