By: Elena Grace Flores
Despite the rants and disrespect of President Rodrigo Duterte against the outgoing American president Barack Obama and Donald Trump’s current victory, the Philippines has once again gained the spot of the fastest growing economy in Asia. Infrastructure investment and active consumer spending are cited to be the cause. However, it failed to mention the gold reserves the Philippines have at the World Bank as deposited by then the late President Ferdinand Marcos for the welfare of the Filipinos. So, whatever economy efforts the current administration does, it will just be an add-on to Marcos’ efforts in the past that not many Filipinos knew.
Youtube video by; Norma Dwayne
[VIDEO]: World Bank Whistle blower Karen Hudes On Proof That World’s Gold Reserves belong To Us All
Strong Construction and Infrastructure Investment
The Philippine economy is the fastest growing in Asia, at 7.1% on-year July -September. The growth is solid in three years. The figure as announced by the Philippine Statistics Authority surpassed the 6.7% median growth estimate of 15 economists and matched an estimated 1.2%GDP rise against the previous quarter, according to Bloomberg.
Upbeat Consumer Spending
It also stacked favorably against China’s third quarter growth rate, at 6.7%, and Vietnam’s, at 6.4%. Last quarter, India posted a 7.1% growth rate but it has yet to report its third quarter figures. Bloomberg projects that the Philippine economy, undeterred by the risk of a protectionism under Donald Trump and President Rodrigo Duterte’s anti-U.S. tirades, is set to expand more than 6% until 2018 given that consumer spending is upbeat.
Gold Reserves at the World bank since 1960
Duterte’s Endorsement of Bongbong Marcos
The world is watching every step of Duterte in favoring and endorsing the son of the late strongman, Bongbong Marcos. Given that the keeper of the gold reserves’ bill of lading is his mother, Imelda Marcos, it is speculated that when Bongbong Marcos becomes president, he can better assign the placement of the gold reserves entrusted through Central bank of the Philippines with the Filipino people as beneficiaries.