The deadline for this post is today, the 30th of December.

(I'm in an internet cafe right now, my laptop died a week ago.)


Economic Issue: Emerging Markets: Sri Lanka


The Article:

After Decades of War, Sri Lanka Bounces Back
Billions of Foreign Money, especially from China, are pouring in
by Frederick Balfour


source:Bloomberg Businessweek

"The ADB expects Sri Lanka's economy to grow as much as 8 percent this year and next. Colombo's stock market is the world's second-best performer (after Mongolia) in 2010, more than doubling in value even as many investors wait to see whether the stability holds. Visits from foreigners have increased 40 percent so far this year and are expected to top 600,000 for 2010. The government hopes that number will hit 2.5 million by 2016 as word spreads about the white sand beaches, rainforests teeming with wildlife, and ancient temples nestled in the lush hillsides of the newly peaceful island nation. "Sri Lanka has been a closed shop for 30 years," says Joseph Michael Suresh Brito, chief executive officer of Colombo-based Aitken Spence Hotel Holdings, which is working with a Thai company on a $40 million community of luxury villas on the south coast. "People will come with no fear." 

My Reaction:

Sri Lanka's economy and government is very similar to our own country (it's a democratic republic, and its GDP is $106.46billion, just slightly smaller than our country's GDP of $161 billion).

I haven't read or heard any good news about the Philippine economy this year. In fact, I haven't read or heard any developments in our country this year (who cares about the President's fashion, the weddings he attends-- it's all nonsense and unnecessary.)

I think Sri Lanka should be a good example for our country. We do almost have the same geographical location, the same climate, the same kinds of people, maybe even more-- Filipinos have talent and skills that not a lot of other people of other countries have.  The only problem is that the government isn't doing a lot.
What's worse for us is that Sri Lanka is bouncing back from DECADES of civil war. What did we have? We didn't have suicide bombers all over the place, we're a more peaceful country, it was only in the 80's when the country was really chaotic. Why hasn't our country become an 'emerging market' yet?

That being said, I think our government should plan their investments wisely. Just recently they've released new-generation Philippine Peso bills (they say you should look at the new security features instead of the erroneous content of each bill). To be honest, I think the bills look nice, but it is not the time to invest on printed money. What about reforms in agriculture? Education? What about infrastructure and houses for people? Have they even planned for sustainable jobs for the citizens?  We may not have suffered years of civil war, but I think we've suffered years of inefficient planning from our government.