John Reneil Acojido
BSIT-107i

Reaction Paper about Philippines will be number 16th largest economy by 2050 according to IMF

It says that the Philippines and Peru are among emerging economies that would become much more prominent in the next few decades and the bank expected China to overtake the United States as the world’s biggest economy by 2050 and has the strong growth rates in other developing countries. And no doubt that China will soon be the powerful country than United States as it today. Because Chinise people are good at money and making money grow to its country. But by HSBC research says that our growing population and properly educated and trained Filipinos should help the Philippines generate more income and the fact that the Philippines have relatively low income gives much room for growth, and that its favourable fundamentals will help the country maximize that room. But it’s a long way before Philippines will be that rich again like Marcos era. Because nowadays, number of corruption is had been reported and says to the public by its people of the government. That’s why Philippines doesn’t improved as President Benigno Aquino says. And while the population grows fast, the Philippines economy is going down because so many Filipinos are unemployed. Over the last decade, the Philippines has transformed itself into a country with sustained structural current account surpluses and rapid reserve accumulation. And the remittance continue to contribute greatly to the Philippine current amount. Which is good because even if today we have many corruptions on our government the Philippines economy is improving. Growth sectors are strong and varied too in Philippines. And the electronics, the Philippines host world-class electronics firms such as Texas Instruments, Nokia and Intel. And we have one of the largest deposits of gold, copper, and nickel I the