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Essay / Research Paper Abstract
This 4-page paper examines the economies of the Philippines, Taiwan and China, and discusses if these economies complement or hinder one another. Bibliography lists 3 sources.
Page Count:
4 pages (~225 words per page)
File: D0_MTphichi.rtf
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Unformatted sample text from the term paper:
the Philippines, Taiwan and China. Although these three nations are in close proximity however, their economies are vastly different; although with organizations such as ASEAN, economies are beginning to be
mixed and matched. Still, there has been the question as to whether these three economies might actually help or hinder one another when it comes to global growth and development.
In this paper, well examine all three economies to determine if, indeed, they are compatible. One thing these three did share in
common however, is they all suffered in some way from the 1997 Asian Crisis. The Philippine economy is a mixture of agriculture,
light industry and support services (CIA (b), 2003). As a result of the Asian financial crisis (and poor weather conditions), growth was erratic through the late 1990s (CIA (b), 2003).
Although the Philippines recorded a GDP growth of about 4.6 percent in 2002, the country also incurred a huge deficit, meaning that today, the Philippines has a public sector debt
equal to more than 100 percent of the GDP (CIA (b), 2003). As of now, the government is working toward economic reform such as privatization, reform of the tax system
and promotion of trade integration within the region (CIA (b), 2003). The countrys inflation rate is 3.1 percent, while about 40 percent of the overall population is below the poverty
line (CIA (b), 2003). Comparing this with the other two countries is sobering, as neither Taiwan nor China have such large inflation or poverty rates.
On the other side of the coin is the Taiwanese economy, which is a largely capitalistic economy that responds to market conditions rather than state owned enterprises
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