Asia Sentinel

Asia Sentinel

Manila Gets Set for the Downturn

Our Correspondent
Nov 22, 2008
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Often described as the sick man of Asia, the Philippines appears to be walking an economic tightrope again. Its currency has fallen sharply against the US dollar from a high of P44:US$1 to P50:US$1, a fall of 13.6 percent since August. Three of the pillars of its economy – call centers, electronics exports and inward remittances -- are all deeply expose…

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