Philippines is the second best performing economy in S.E. Asia, next to Singapore, according to a recent report by the IMF. Another organization, the World Economic Forum has also cited that the Philippines has improved in terms or global competitiveness. It has climbed 3 notches from 75 last year to 71 this year. Article links after the cut.
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Please note: It’s a rhetorical question, the image does not relate to the answer. 
Just in case that you’re living under a rock or something, the U.S. economy is in a slump. And it seems the world is fascinated by the Euro and Renminbi (China) by and its strength. The Renminbi is pegged to the dollar and its currently undervalued. It seems to be that the dollar is no longer the preference as the world’s reserve currency. It’s the Euro, Clifford Bennett of Sonray Capital (Bloomberg Video).
Even though some may like the Euro, some also like the Renminbi or the Yuan. For example you can hear Jim Rogers of chairman of Beeland Interests Inc. talks about China (Windows Media Audio) and how he has a baby girl who is American Citizen, but does not have an American bank account and how he has hired a Chinese nanny so her daughter could learn Chinese for her own future benefit. He also has started to shift his assets out of the Dollar and into the Yuan (or video).
It’s interesting to see that the Canadian dollar is now strong, if not stronger (47 year high) than the U.S. dollar right now.
Ben Bernanke (U.S. Chairman of the Federal Reserve) will more likely devalue the dollar by printing more money out of the Federal Reserve.
The Philippine Peso
Even the Philippine Peso is getting stronger against the dollar. Citigroup even sees that the Peso would hover around the P42.50 against the dollar by the years end.
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Related Post:
The Wealthy, the Poor, and the Filipinos (part 1)
It’s easy to say that life is hard, and it’s harder in the Philippines. Among many Filipinos, many of them don’t even believe that they could make money in the Philippines. But let’s take a look who are the 5 richest people in the Philippines and their commonality.
The Top 5 Richest Men in the Philippines (Forbes, 2007) are
Four out five were immigrants, or the parents have been immigrants to the Philippines.
Four out five were self-made b/millionaires:
Five out five believed that they could make money — in the Philippines, nevertheless.
The Richest Man in the World
Interesting to note that the Richest Man in the World is no longer Bill Gates nor does he/she comes from the U.S. but from a “Newly Industrialized Country” — Mexico. His name is Carlos Slim (video). He also believed in Mexico, unlike anyone else.
His net worth is nearly $68 billion ($68,000,000,000.00), $27 million a day ($27,000,000.00), Lebanese immigrant, and does not own a computer 
.
Profiles: Pinoy Money Talk, Forbes
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Wake T-Rex has been down a couple of days last week due to a hard drive crash. If you see error here and there let me know.
While that was happening, there has been report about a explosion in Metro Manila at the Glorrieta Mall. There has been no conclusive findings yet, but it is of course either due to an accident or terrorist act. What really matters is that what happens next, the possibility of other militant groups trying to cause panic, and how fast the government can show its responsibility to protect its people.
So far, investors are unfazed about the blast and would continue to invest in the country.
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Related Post:
Filipinos are Optimistic says AXA
ING Group, a financial institution base in the Netherlands, concluded that India, China, Malaysia, and the Philippines are bullish about the next quarter.
83% investors in China,
75% inverstors in India,
69% investors in the Philippines,
Believes that their investments will be as strong in the next quarter.
While other countries like Australia, Hong Kong, Japan and Singapore are more conservative about their outlook.
(more…)
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