Economy

 

Millennials aren’t just choosing experiences over possessions; they are facing far greater economic challenges than previous generations.

WASHINGTON — “Despite the challenging global economic environment, the Philippines has achieved notable economic expansion, driven by the economy’s strong export performance and inflows of remittances that have bolstered private consumption,” noted the Heritage Foundation in its 2017 Index of Economic Freedom released this week here.

Asia Society recently issued the 2015 Asian Pacific Americans Corporate Survey at the Diversity Leadership Forum in New York.

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From left, Consul General Mario L. de Leon, Jr., Commissioner Maria Torres-Springer and PACC President Michael Nierva.

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The Philippine economy is the 39th largest in the world, with an estimated 2014 Gross Domestic Product (nominal) of $289.686 billion. Primary exports include semiconductors and electronic products, transport equipment, garments, copper products, petroleum products, coconut oil and fruits. Major trading partners include the United States, Japan, China, Singapore, South Korea, the Netherlands, Hong Kong, Germany, Taiwan and Thailand.

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