Comment form a reader on the post: The US left the Philippine Bases Because they Didn’t Want to Pay Extortion :
Agreed. Interesting article in the Philippine Star a day or two ago on the editorial page pointing out the very low foreign investment rate in the Philippines compared to every other South East Asian country. Blamed it on government and corruption and bureaucratic mess...so the cycle of infrastructure disaster and massive wealth for the top 1% and poverty below continues.
From the Bugle: The cycle continues but it's hard to argue that things aren't changing. The Philippines is the second fastest growing economy in East Asia, behind only China. It has the one of the best performing stock markets in Asia and one of the best performing currencies in Asia. This year the country will likely achieve an investment grade rating from Moodys, S&P, etc. That will have a big impact on foreign investment.