Indeed. That's why Japan used to use the Peso.
And it still is rich.
Our GNP is greater than Romania, Pakistan, Kuwait, Qatar, New Zealand, Peru, Ukraine, Iraq, Puerto Rico, Vietnam, Syria, Lebanon, Jordan,Cyprus, Macau, Iceland, Laos, Malta, and many more.
The Philippines GNP is ranked at about 50. Placing it lower than 50 other nations, yet still higher than about 150 other nations! That's not too bad. At least we're not Tuvalu!
We have the 12th largest population, 43rd density, 32nd GDP-PPP, 44th Gini Index(better than the USA), 112 HDI, with only a rating of 73rd position on land area.
The Philippines also has only a 7.2% unemployment rate. Compare the USA at 8.6%. Spain 23.5%. 8.5% in Canada. 8.4% in the UK. 14% in Ireland. South Africa is 25%. Puerto Rico is 16%. American Samoa: 28%. Many nations have an unemployment rate of 40%-80%. 7.2% is on par with 1st world nations, and higher than some. Making "little money" has got to be better than none at all.
The Philippines is not Paradise. But it's not bad.
EDIT: Thanks Buta. Very true. Americans think that the 1930's and 1950's were very prosperous and rich. People's favourite old films show this. It was hardly true. Nostalgia corrupts the mind. Things have always been bad everywhere...
· 8 years ago