Why the Philippines is Suddenly becoming Asia's Most Important Country
The Philippines has become a crucial country in the global economy, attracting significant foreign investment, especially from China and the US, due to its strategic location and young population. Historically, its geography with many islands made development difficult, leading to a reliance on money sent from Filipinos working abroad. However, recent large investments in infrastructure, particularly from China, have boosted its economy, making it one of the fastest-growing in Asia. This growth and its position in the South China Sea place the Philippines at the center of the US-China rivalry, forcing it to navigate complex relationships. Despite economic success, the country faces challenges with high inequality and corruption, which could hinder its long-term development if not addressed.
Key Vocabulary
To exceed or go beyond a particular limit, achievement, or standard.
Examples:
- Her athletic performance was truly remarkable, surpassing all previous records.
- The new software update offered features surpassing those of its competitors.
- The company's profits this quarter were surprising, surpassing even the most optimistic projections.
A figure representing a statistical measure of income inequality, specifically the Gini coefficient. A higher coefficient indicates greater inequality.
Examples:
- Economists often use the genie coefficient to compare income distribution across different nations.
- A rising genie coefficient can signal growing disparities between the rich and the poor within a society.
- Policies aimed at reducing the genie coefficient often focus on progressive taxation and social welfare programs.
A very powerful and influential nation, typically one with a dominant international role and significant economic, military, and political strength.
Examples:
- During the Cold War, the United States and the Soviet Union were considered the two main superpowers.
- Many analysts predict that a certain emerging economy will become a global superpower within the next few decades.
- The small nation dreamed of one day achieving the status of a regional superpower.
Recently discovered or acquired, often implying a sense of novelty or a change in circumstances.
Examples:
- After years of hard work, she enjoyed her newfound success and recognition.
- The team displayed a newfound confidence after their unexpected victory.
- The explorer returned from his journey with a newfound appreciation for remote wilderness.
Able to withstand or recover quickly from difficult conditions, shocks, or adversity.
Examples:
- The city proved remarkably resilient after the natural disaster, rebuilding much faster than anticipated.
- Despite numerous setbacks, the entrepreneur remained resilient, constantly adapting his business model.
- A resilient economy can better absorb external shocks without collapsing.
Relating to the redistribution of wealth, income, or resources, typically through government policies like taxation and social programs, to reduce inequality.
Examples:
- The government introduced new redistributive policies aimed at providing more support to low-income families.
- Many social democracies implement strong redistributive systems to ensure a more equitable society.
- Debates often arise over the extent to which redistributive measures should be applied in an economy.
A person, country, or entity that performs below its potential or expected level.
Examples:
- For many years, the company was considered an underachiever in its industry, failing to capitalize on its innovations.
- Despite having talented players, the sports team was often labeled an underachiever due to its inconsistent performance.
- The student, despite her intelligence, was an underachiever, rarely turning in assignments on time.
To make suffering, deficiency, or a problem less severe or easier to bear.
Examples:
- New medical treatments aim to alleviate the symptoms of chronic illnesses.
- The charity organized a food drive to alleviate hunger in the struggling community.
- Implementing flexible work schedules can help alleviate employee stress and improve morale.
A state of continuous competition for superiority or a desired outcome between two or more parties.
Examples:
- The intense rivalry between the two tech giants often results in groundbreaking innovations.
- A healthy rivalry among siblings can sometimes motivate them to achieve more.
- The historical rivalry between the neighboring countries has deep roots.
Directed or channeled a resource, such as money or information, through a specific course or into a particular place or purpose.
Examples:
- The funds were funneled into the new research and development department.
- Information was funneled discreetly through various intermediaries before reaching the main office.
- The government funneled significant resources into upgrading the nation's public transportation system.
Of questionable character, integrity, or legality; suspicious or dishonest.
Examples:
- The company was involved in some shady dealings that eventually led to a government investigation.
- He received an email from a shady address, warning him not to click on any links.
- Avoid any investment opportunities that seem too good to be true, as they might be shady.
An abbreviation for "also known as," used to introduce an alternative name, nickname, or description.
Examples:
- The famous author, aka the 'Master of Suspense,' released his latest novel.
- The city's main square, aka 'Freedom Plaza,' is a popular gathering spot for protests.
- His stage name is 'The Riffmaker,' aka the guitarist with the fastest fingers.
Something complicated or puzzling, made up of many interconnected parts, similar to a jigsaw puzzle.
Examples:
- The detective meticulously pieced together the jigsaw of clues to solve the mystery.
- Building a successful startup often feels like assembling a complex jigsaw with many unknown variables.
- The historical event was a jigsaw of political maneuvers, economic shifts, and social unrest.
Areas or contexts where intense competition, conflict, or struggle takes place.
Examples:
- The upcoming election is expected to be fought on several key battlegrounds in swing states.
- The market for smartphones has become a fierce battleground for innovation and customer loyalty.
- University campuses are often intellectual battlegrounds where different ideologies clash.
Causing something to become unstable, uncertain, or prone to collapse; undermining stability.
Examples:
- The sudden economic downturn had a destabilizing effect on the global financial markets.
- Rumors and misinformation can be highly destabilizing to a company's reputation.
- Political unrest in the region proved to be a destabilizing force for international relations.
Individuals who harass or pursue another person persistently and unwantedly, often with malicious intent.
Examples:
- The new security measures were implemented to protect public figures from potential stalkers.
- Online platforms have introduced tools to help users block and report digital stalkers.
- She reported the individual to the authorities after realizing he was one of her stalkers.
A figurative term referring to a very close proximity or immediate vicinity; literally, the step leading up to a door.
Examples:
- The delivery service promises to bring groceries right to your doorstep within an hour.
- The new factory brought job opportunities directly to the doorstep of the local community.
- He found an unexpected package waiting on his doorstep when he arrived home.
Remaining in operation or existence, especially in difficult circumstances; financially solvent.
Examples:
- The small business struggled to stay afloat during the economic recession.
- Despite losing a major client, the company managed to keep its operations afloat.
- Government subsidies were crucial in keeping the struggling industry afloat.
The total number of people employed or available for work within a country, region, or company.
Examples:
- The aging workforce in many developed nations presents challenges for future economic growth.
- The company is investing in training programs to upskill its workforce for new technologies.
- A diverse workforce brings a variety of perspectives and experiences to a team.
The state of being in control or having power and influence over others.
Examples:
- The tech company achieved market dominance through its innovative products and aggressive marketing.
- The athlete's dominance in the sport was evident from his consistent victories.
- Historically, empires sought global dominance through military conquest and economic control.