Road to self-sustaining economic growth and President Duterte’s lament (continued)
Last week’s essay closed by emphasizing the need to pass the comprehensive tax reform program to provide the proper non-inflationary financing for the 10-year development plan that involves higher infrastructure investments and other public spending program.
Foreign direct investments brought big gains to high-growth East Asian countries
In the past few weeks, I discussed, in succession, how foreign direct investments (FDIs) improved and accelerated the economic progress of Indonesia, Vietnam, and Thailand. I could have looked further back in history and done the same review for the newly industrialized countries of East Asia.
