Why is the Philippines a poor country despite its abundant and diverse natural resources?

Why is the Philippines a poor country despite its abundant and diverse natural resources?

Because of corruption and inadequate legislation, the government does relatively little to meaningfully reduce poverty, deal with rapid population growth and raise standards of living. Aside from social, economic and political issues, environmental factors also contribute towards making the Philippines poor.

Why is our country poor in spite of a large population?

Corruption, lack of education, distribution of wealth, population explosion, caste system, mentality, mismanagement are some of the widespread causes of poverty in India. For an example, India has the largest public food distribution system for the poor in the world.

How does globalization affect the underdeveloped countries like the Philippines?

Evidence suggests that globalisation has a positive effect on the country’s economic growth and employment. In particular, trade openness and foreign portfolio flows have contributed to higher per capita GDP growth in the Philippines, following the implementation of FX liberalisation reforms.

Why is the Philippines considered as a newly industrialized country?

It is considered a “newly industrialized” country – one whose economy is transitioning from being based on agriculture to relying more on services and manufacturing. The country has been one of Asia’s fastest-growing economies in recent years.

Why is Philippine history is important?

Importance of Studying Philippine History: 1. Through Philippine History, we’ve learned and observed the beginning and development of our country. We’ve learned how to fight, defend ourselves and protect our teritory from colonizers.

Why is the Philippines still a developing country?

After the colonization and independence, many African nations are ruled by corrupt politicians, not dissimilar to the Philippines. There are various factors why the Philippines is still a developing country. Prominent factor is mainly social and cultural in nature. It is the very foundations of our society that needs a change in order to progress.

Is the Philippines still a poor country?

That hasn’t surprised those following emerging markets closely, even though the Philippines’ equity market has outperformed Indonesia’s and Singapore’s in the last ten years. Nor has it been a surprise seeing the Philippines leave behind the old glory days of the 1960s, remaining poor six decades later.

Why is the Philippines stuck without progress?

Richness in natural resources does not guarantee that a nation will be a developed country sooner or later. Economic policies, geography and political culture are what cause the Philippines stuck without progress. Our political landscape is fragmented and vulnerable.

What is the status of the Philippines in the world?

At the end of 2009, the Philippines graduated to the rank of ‘lower Middle-Income Country,’ which implies less reliance on aid and greater capacity to shape its own development. The performance of the Philippines in human development has also been respectable.

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