Economic Crisis: People’s Greatest Problem in the Philippines

The Philippines has long been undermined with long-term structural problems such that sustainable economic development is yet to be a dream come true. According to the pages of Philippine economic history, the country has been dominated by a sequence of growth spurts, brief and mediocre, followed by shard to very-sharp, severe, and extended downturns—a cycle that came to be known as the boom-bust cycle. As such, economic growth record of the country has been disappointing in comparison with its East Asian counterparts in terms of per capita GDP. What makes matters worse is the seemingly perennial impoverished state of its inhabitants, that is, in the past years, an absolute poverty incidence of 13.2 percent—higher than Indonesia’s 7.7 and Vietnam’s 8.4 percent has been recorded, and thus giving further testimony of the unequal distribution of wealth that keeps growth and development a far reach for the Philippines. An increasing number of the Filipino workforce has become frustrated due to unemployment and low standards of living in the country. Thousands of Filipinos leave the country every day to seize better income opportunities and promise their children a better and secure future.

Moreover, around five million of Filipino children are unable to go to school and are forced to work on the streets or in other various workplaces where they can find some food or other means to fill their appetites. When does financial crisis ends? As population of the Philippines keep on getting higher, do we still have the hopefulness to let the economic crisis prevented? It’s been out in the latest news on television concerning the negative effects of financial crisis in the Philippines. It is in the news concerning robbery hold ups, victims for natural calamity like bad weather that can cause gigantic destruction to the environment as well as the people living on it, unexpected explosion of fires that can cause conflagration towards the entire town, unexpected earthquakes and many more. What are the effects to those circumstances? Shortage of supply is one of the effects of that natural or unexpected situation. Who are affected? The people are the main victim of this situation. Another harsh effect is killing of people like hold ups/robbery.

Because of economic crisis, people who are slothful to undertake difficulties in life will choose to have immediate money income like robbery, car nap, hold ups and etc. Most of the time, innocent people are killed to this harsh way of getting money quickly. How can this prevented? Let’s find out later on.

Still, there are many victims killed and cases filed, nonetheless; there are still shocking incidents takes place until now. As the number of inhabitants grows and years pass by, the worse happenings are always present to the society today. Can this be solved while the years are kept on running? Maybe it can be solved but the majority people assumed that there is no hope as well as the negative problem can’t be solved. Poor management of the government like not implementing strict rules will tolerate those innocent people killing. As of now, there many people who are victims of fire burns, great deluge, earthquakes and media or non media killing asking for justice and help from the government due to lack of food supply, shelter, clothing and other daily needs.

With those economic crisis problems that I have mention earlier, Are there still hope waiting? Big yes, hope will embrace you and to all of us unless the government officials will have a helping hand to face the economic crisis with the cooperation of all people around Philippines and then implements the laws strictly to avoid killings. With regards to natural calamity like floods, earthquake or fires (human cause or unexpectedly happen to cause fire, etc.); this are nature’s well. Wither we don’t like it, if nature will get mad to the people, natural calamity might occur. In order to prevent floods, stop cutting tress as well as fire can be prevented by extra careful to the things that can cause explosion that will immediately spreads and can’t be prevented of some hindrances like narrow ways or crowded houses which is difficult to pass through the rescuer.

This can be solved through government’s cooperation and also to all people. If the government will execute strict rules and regulation, disciplinary action, Philippines will change its direction into a better living away from killings.