Posts Tagged ‘Philippine Economy’
Rich—as defined economically
Rich-as defined economically
by: Kendrick Chua, the Wealth Warrior
Debates have not been scarce on how to define the word rich. What may be rich for some 
may be poor for the others. Socially, being rich is portrayed as having more assets than one can ever keeps tab on, splurges like no tomorrow and donates to charity for philanthropy works.
Economically, to be “rich”, a household needs to belong to the 0.3% of the Philippine population. That means they are among the 255,000 Filipinos out there who takes home an annual income of about P2.06 million to P5.88 million with an average income of P3.03million.
Now, the “uber-rich” stands only 0.1% of the population or about 85,000 Filipinos enjoy this status. To qualify for this category, the household annual income should not be less than P6.78 million and a high of, well, sky is the limit for these individuals.
Tags: Philippine Economy, poverty, Wealth
Philippine Economy: The Turtle or the Rabbit?
Philippine Economy: The Rabbit or the Turtle?
by: Kendrick Chua
We are all familiar with the story of the race between the rabbit and the turtle. There were lots of variations to this but let’s just stick to the very first story wherein the rabbit, after running ahead of the turtle decided to take a nap. The turtle slowly ran by the rabbit and crosses the finish line.
I used the turtle as a symbolism for the Philippines in one of our Social Studies homework back in high school because like the turtle, I thought the country was growing slowly but steadily. It seemed like a reasonable representation back then.
Now, I’m not so sure.
Now working in the financial industry and having a clearer analysis of the country’s economy. I would like to believe that the rabbit is a more appropriate representation than the turtle. (more…)
Tags: Philippine Economy
