by winston » Mon Jul 02, 2018 6:46 pm
Philippines
While the Philippines has been one of the fastest-growing economies in Asia, with annual GDP growth rates just shy of 7% for the last few years, it now faces the very real challenge of runaway inflation thanks to that brisk growth rate.
Specifically, in May inflation hit 4.6% for the fastest pace in five years and well above the central bank’s target range of 2% to 4%.
The nation’s central bank is starting to act as a result, but a combination of higher rates and higher prices are starting to put pressure on businesses and consumers alike.
It doesn’t help that Philippines President Rodrigo Duterte, a strongman who has even used the word “dictator” to refer to his leadership, is not known for his contributions to political uncertainty. As a result, the iShares MSCI Philippines ETF EPHE, +2.27% has skidded about 23% year-to-date in 2018.
Source: Market Watch
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