the philippine economy is growing fast miracle or not?why?
No, The archipelago nation of the Philippines is part of the overall emerging markets bubble that has been inflating since 2009 after China launched a $586 billion economic stimulus plan to counter the negative effects of the global financial crisis on their economy. China’s stimulus plan called for an aggressive credit-driven infrastructure and residential real estate-based economic growth strategy that resulted in the building of scores of cities and other projects – many of which are still empty or unused – across the entire country. The stimulus plan succeeded in temporarily boosting economic growth, and drove a global raw materials boom (and bubble) that benefited commodities exporters such as Australia and emerging market nations. Very soon, investors the world over were clamoring into emerging market investments to diversify away from investments in troubled Western economies.
