US RECESSION? How has it affected the Philippine economy? 4

From the website of Dr Cielito Habito (formerly Philippine Economic Planning Secretary) at http://cielhabito.multiply.com/
When the US sneezes…
It is often said that when the US economy sneezes, Asia – and much of the world, for that matter – catches a cold. And the reason for this is that as the biggest economy in the world, the US tends to be at or the near the top of many countries’ list of biggest trading and investment partners.

For the ASEAN-5 countries (Indonesia, Malaysia, Philippines, Singapore and Thailand), the US remains among the two biggest buyers of their exports. It may …read more