VENUS B.

MACATUGGAL MIST- SOCSCI

Title: The Philippine economy under the pandemic: From Asian tiger to sick man
again?
Author: RONALD U. MENDOZA
Source: https://www.brookings.edu/blog/order-from-chaos/2021/08/02/the-
philippine-economy-under-the-pandemic-from-asian-tiger-to-sick-man-again/
Main Idea:

The main idea for this issue is that in the year 2019, Philippine was one of the fastest
growing economies in the world. Prior to Covid-19 Pandemic, Philippine was touted as the
next Asian tiger economy. Unfortunately when Covid-19 outbreak appeared different sector got
affected, not just the people, it is also the tourism, services, remittances-fed growth are all
vulnerable to pandemic-induced lockdowns and consumer confidence decline. International
travel plunged, tourism came to a grinding halt, and domestic lockdowns and mobility
restrictions crippled the retail sector, restaurants, and hospitality industry.
According to Ronald U. Mendoza the main markets have been hit heavily by the
pandemic, forcing the sector to rapidly up skill and adjust to emerging opportunities under the
new normal. He said that lockdown is very useful to lessen the spread of virus; however, this
strategy affects our growing economy. Due to lockdowns the government give “ayudas” during
the 16 months of lockdown by mid-2021 for that joblessness. And the Philippines suffered from
delays in its vaccination, because of the implementation and issues of vaccination that greatly
affect the recovery of the Philippines.
In order to mount a more successful economic recovery, the Philippines must address
the key policy issues, be prepared at all times and learned from the experiences to avoid
becoming the sick man of Asia again, and return to the rapid and steady growth of the pre-
pandemic decade.