Philippines Underdevelopment

CHAPTER I INTRODUCTION For more than years, Philippine is saddled with huge challenges on how to find a concrete strategy to cope up economic depression, mainly the main reason that analysts could see is the drastic population density that leads to various implications like poverty (the main symptoms of having overpopulation and every country’s problem that almost all cannot resolved), poor governance that results rampant corruption from public officials, colonial mentality also blocks progression (results from low market acceptance which forces the local firms to withdraw from doing business), exhaustion of natural resources made by the business sectors for production and the community as well for survival, are all resulting to vast economic regression that hinders development in the country. Philippines' economy had been very unstable despite of the advantages of the state. Philippines is indeed an endowed country in terms of its natural resources, abundant fish in the sea, rich minerals in the soil, mountainous highlands, many tourist spots to brag with, and nevertheless, the lovely, hospitable, very caring, and kind people. The country remains to be left behind by the other countries that happened to be in the same spot and condition long time ago. Economic growth has been a big problem to sustain at least partial progression. As the industrialization come into view, the country seek ways on how to get advantageous step towards achieving economic growth and the Philippine government was determined effort at "globalizing" the economy. The period 1990s saw the most intensive free-market restructuring of the economy the country has ever seen. Yet, the welfare only worsened and this was felt abruptly by the Filipinos and it continues to get even worse year by year. With no development to speak of, there is little point in asking if it was sustainable or not. April of 2010, the International Monetary Fund's World Economic Report listed Philippines as one of