MIKE WOOTTON
The phrase “our strong macroeconomic fundamentals” is frequently repeated, most recently as the safeguard against the effects of changes in the US dollar/peso exchange rate. I find the claim a bit baffling really. This sort of statement along with quotes, including one from the World Bank recently that the Philippine economy has grown miraculously, conflicts with unemployment, poverty, low levels of government spending and foreign investment statistics. There is an apparent dramatic disconnect.