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Showing posts from 2012

When Philippines Becomes Singapore, What Would it be Like?

Economies of countries in the world are being ranked by the International Monetary Fund (IMF), World Bank (WB), United Nations (UN) and CIA World Fact in accordance with the country’s Gross Domestic Product (GDP) for a given year. GDP is the market value of products and services produced by a particular country. Each ranking body may have other criteria or categories, but in general, the results of their rankings almost coincide. The ranking are pretty close from the top going down and there are only two to three divergence in the levels of economy ranking. In 2011, the Philippines is falling between the 43rd to 46th while Singapore is on the 38th to 39th position. On the average, Philippines has a GDP of US$220B while Singapore has US$260B. However, one big aspect to think about between these two countries if we are to compare them further is the population. Philippines has 92.3M people while Singapore has 5.2M. The implication of GDP of Singapore with respect to this aspect seems to