Economist sees need for far more investment in Philippines

02/7/2013 | Business World (Philippines)

Noting that the Philippines depends on strong domestic consumption for growth -- a reverse of the pattern in China -- Bloomberg economist Michael McDonough says the biggest constraint on the Philippine economy is a dearth of foreign direct investment. While investment accounted for about half of China's economy last year, in the Philippines it was only a fifth, "far below the average for a country in its stage of development," McDonough said.

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