TEO’S 60M, MONTANO’S 80M, CAYETANO’S 1B | FORBES MAGAZINE: “PHILIPPINES, GETTING MORE CORRUPT UNDER DUTERTE”

“PHILIPPINES, GETTING MORE CORRUPT UNDER DUTERTE”: President Rodrigo Duterte’s death squads have killed the democratic process in the Philippines, and they haven’t killed the system that reproduces and perpetuates corruption.

In fact, the Philippines is getting more corrupt under Duterte, dropping 13 notches in the 2017 Corruption Index published recently by Transparency International.

That’s on top of six notches it dropped in 2016, which had already pushed the country closer to highly corrupt Asian countries like Pakistan, and far below countries like Singapore and New Zealand that are almost corruption free.

 

Country Corruption

Rank 2010

Corruption

Rank 2015

Corruption
Rank 2016
Corruption Rank 2017
Philippines 134 95/168 101/168 114/180
Pakistan 143/168 117/168 116/168 123
India 87 76 79 85

Source: Transparency International

 

To be fair, the findings of the survey should be interpreted with a great deal of caution, for a couple of reasons. One of them is that they are based on other surveys and polls, and therefore, subject to aggregation errors. Another reason is that some of the data included in these surveys go back a couple of years ago, and therefore that data reflects the policies of the previous administrations more than it does the Duterte administration.

Meanwhile, other surveys show that Filipinos are better off today than they were two years ago. Like a Gallup survey, which finds an increase in the percentage of Filipinos who consider their lives positive enough to rate it as “thriving” since Duterte assumed office.

Specifically, 28% of Filipinos consider themselves thriving in 2017 compared to 26% in 2016, pushing the Philippines up one notch in the ranking of the Asian-Pacific countries.

For an obvious reason: Duterte’s economy is running on high gear. It was ranked the world’s 10th fastest growing economy in the world in 2017.

That’s according to the World Bank’s latest edition of Global Economic Prospects.

Still, fighting corruption is a big bet for the Philippines and for foreign investors buying Philippine stocks. Why? Because it will determine whether the Philippines can move forward to become a developed country or slide back to the frontier status.

 

Fund 3-Month Performance 2-year Performance
ishares MSCI China (FXI) 1.77% 12.89
iShares MSCI Philippines (EPHE) -2.75 4.14
iShares MSCI Emerging Markets (EEM) 2.36 10.42

Source: Finance.yahoo.com 2/21/2018

 

 

 

Source: https://www.forbes.com/

 

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