The Philippines have several strong economical neighbors. One of the largest economical countries would be China. Malaysia is to the South of the Philippines and is one of the largest oil and natural gas exporters. Japan is North East of the Philippines and is one the 3rd largest economic country. For more articles regarding globalization please check out http://www.associatedcontent.com/article/2808740/advantages_and_disadvantages_of_mersocur.html?cat=55
2. Outline Philippines neighbors and their economic strengths Regional Economic Overview Strong Economic Sectors of Each Neighboring Country Philippines Economic Complimentary Performance Philippines Economic Competitive Performance Investment Considerations by Management Areas for further research References
3. Philippines/Southeast Asia Regions China- 2nd Largest Economy in the World and fastest Growing in 30 Years. Malaysia- Large Oil and Natural Gas Exporter and Multi-sector economy Japan- 3rd Largest Economic Country in the World
4. Regional Economies Regional Economic Overview China is one of the strongest economic countries in the world China has a growth rate of 11.6% as of 2006 Malaysia is currently working to attract foreign investments
5. Regional Economies Malaysia is a large producer of raw materials, Including Oil and Natural Gas Malaysia is diligently working to become more domestic & Less dependent on exports. Japan has a strong labor force And technological advances Japan is debating on economic reform
8. Philippines Economic Complementary Performance Introduced economic reforms and initiatives to stimulate business growth And foreign investments. Better regulations on Banking systems and Securities market. Liberalized foreign participation in retail trade Tariff reduction
10. Investment in Philippines Management Considerations The Philippines are in an economic down turn and should be closely monitored for improvement. They depend heavily on exports, however, they are more self Sufficient than China or Japan They are implementing new reforms for foreign investments. Even after their drop in rankings they were still very competitive last year.
11. Conclusion and Areas For Further Research The Philippines is at this time experiencing a time of economic growth with an optimistic outlook. Although we might expect national development to accompany economic growth, various economic, political, and socio-cultural conditions in the Philippines still present challenges to national development to be explored further.
12. References National Bureau of Statistics (2004), China Statistical Yearbook, Retrieved from http://www.chinability.com/GDP.htm U.S. Library of Congress (2009), Philippines, Relations with Asian Neighbors, Retrieved from http://countrystudies.us/philippines/93.htm Central Intelligence Agency, (2009, October 8), The World Fact book, Malaysia, Retrieved from https://www.cia.gov/library/publications/the-world-factbook/geos/my.html Central Intelligence Agency, (2009, September 29), The World Fact book, Japan, Retrieved from https://www.cia.gov/library/publications/the-world-factbook/geos/ja.html Central Intelligence Agency (2009, September 30), The World Fact Book, China, Retrieved from https://www.cia.gov/library/publications/the-world-factbook/geos/ch.html Asian Development Bank (2006, April 6), Philippines Economic Performance, Asian Development Outlook, Retrieved from http://www.adb.org/Documents/Books/ADO/2006/documents/phi.pdf Montepiedra, M., (2009, July 14), State of Philippines Competitiveness, The Asian Institute of Management , Retrieved from http://www.theaimblog.com/2009/07/state-of-p hilippine-competitiveness.html
Editor's Notes
The Philippines have several strong economical neighbors. One of the larges economical countries would be China. Malaysia is to the South of the Philippines and is one of the largest oil and natural gas exporters. Japan is Northeast of the Philippines and is one the 3rd largest economic country.
China is one of the strongest economic countries in the world. Like the majority of the world the economic crisis has too affected China. However they are still pressing forward to improve their economic reform. They are taking extra steps to increase domestic consumption so they are not dependent on foreign exports. China has a growth rate of 11.6% as of 2006
Malaysia is a large producer of raw materials. This country is currently attempting to attract foreign investments in technology, medical technology and pharmaceuticals. This attempt is to help the country to not be so dependent on exports. Malaysia is a large exporter of Oil and Natural gas and has seen outstanding profits during from higher world energy. They have a healthy foreign exchange reserve and have lowered their chance to risk during the global financial crisis. Malaysia has a growth rate of 5.8% as of 2006. Japan is known for a strong labor force in manufacturing, distributors and suppliers. Japan imports most of their raw resources and fuel. They hold one of the largest fleets for fishing and are responsible for almost 15% of the worlds catch. This country has not invested wisely and has a large deficit. Japan is still in debate on wither they should begin an economic reform. They only have a growth rate of 2% as of 2006
Chinas industries include machine building, textiles, apparel, fertilizers and consumer products. They also specialize in transportation equipment, rail cars, and locomotives. China is huge in exports and survives off of the capital produced from exports. With out exports and imports China would be crippled. However, they are one of the largest economically advanced countries with an astounding growth rate. Malaysia is known for their rubber and palm oil processing as well as manufacturing electronics. They also produce timber and petroleum. Some of their leading industries include oil, natural gas, and chemicals. Malaysia has seen huge profits during the rise in energy costs.
Japan is a leader in technology and advanced in motor vehicles. They also specialize in a number of other industries including electronic equipment, steel and nonferrous metals. However, they have to import the majority of their steel and nonferrous metals from the Philippines. Japan lacks natural resources such as Oil and Natural Gas, which too must be imported.
In 2009 The Philippines growth rate was lower than expected. Private consumption growth also pulled back abruptly from the year earlier. Consumers are concerned about job loss and financial issues, which has caused a drop in the economic growth. Services constituted as the main contributor to growth in the first half of the year. In the second half of the year consumer confidence is projected to increase. Public investment is gaining dramatically because of the fiscal stimulus. Also business confidence should rise after the election in 2010. The Philippines is working on introducing economic reforms and initiatives to stimulate business growth as well as improve regulations on banking systems and securities markets. They are progressively working on liberalizing foreign participation in retail trade. A tariff reduction is also expected for the upcoming year.
These factors are also broken into sub-factors. The Philippines did relatively better in terms of prices they ranked 14th, fiscal policy 13th, societal framework 20th, and in the labor market they ranked 5th.
Even though The Philippines are in an economic downturn this year they are projected to come back after the fourth quarter of the year. They are constantly growing towards the future and China is very dependent on their exports which is a positive. The only reason their economic outlook dropped was due to the financial crisis that his the entire world. According to research they were not hit as bad as some of the countries they are competing against. They are looking to lower tariffs and improve trade agreements, as well as, promote foreign investors.