Yung decrease from 2007 to 2009 sagdpng countries naito ay dulotng global financial crisis Though, karamihanngmgabansa ay nagkaroonng negative growth noong 2009, merongdalawanghindi, which are Cambodia and Philippines though near to zero yunggdp. Sa case nay un, Philippines ang least affected by the crisis dahilmatatag an gating banking system and that mababalangyungnagingepektosa stock market and peso value. 2010
By 2010, umangatlahatyung economy especially Singapore na nag-post ng 15% gdp growth. Yung growth nayunng Singapore was causedby increase in exports, tourism and booming of manufacturing sector (Shannon, 2010). Also, the government lowered corporate taxes, subsidized wages, guaranteed bank loans and invested in the country’s infrastructure (BertersmannStiftung, 2012). Sa Philippines namannung 2010, tumaasyunggdpkasi election which spurred the consumer demand in the market (Philippines Economy Profile, 2013) In Thailand, the 28% increase in their exports contributed a lot to the increase in their gdp which accounts for 70% (Michigan State University, 2012). In Malaysia, the increase in 2010 was caused by the strong expansion of private consumption and capital spending (Xinhua, 2011). For Cambodia,it is driven by strong exports, private investment, agriculture, diversification, and a solid macroeconomic position. Also, the decrease in poverty rate has played a major role in the increase (World Bank, n.a). 2011
In 2011, Philippines, and Malaysia posted a slight decrease in their gdp growth while Thailand and Singapore steeply slide. Cambodia, on the other hand, increased its gdp from 6% to 7.1%. The decrease in the gdp growth in the Philippines was caused by payment of international debts resulting to less government spending in public infrastructure (Philippines Economy Profile, 2013). For Malaysia, the decrease was caused by the economic slowdown in the world especially within U.S, Singapore and European Union that is very significant trading partners for Malaysia. Also, it was affected by the political cycle in the country for which fiscal policies are used in preparation for the incoming election which caused the government excessive insignificant spending (Nambiar, 2012). In Thailand, the steep decline was the consequence of flooding in Thailand’s central region inundating several key industrial estates and supply chain disruption caused by Japan’s tsunami and overall slowdown in the global economy (Michigan State University, 2012). The decline for Singapore’s GDP growth was in-line with the expectations of Singapore’s ministry for trade and industry. This was due to the persistent economic slowdown in the Europe and U.S. (Holland, 2012). The further increase in Cambodia’s GDP growth was caused by the expansion of maternal health, early childhood care and primary education program in rural areas (World Bank, n.a). 2012
For Singapore, same explanation in 2011
The Philippines increased its GDP due to the extensive government spending on infrastructure. (Citation needed). The increase in Thailand’s GDP growth was driven by the increase in the domestic demand largely due to government spending and investment for flood reconstruction (Michigan State University, 2012). For Malaysia, interest rate was held low and lending procedures were relaxed which in turn enabled an increase in the public and private expenditure (Kong 2013). Unemployment Rate
Note nayungsa Thailand noong 2011, tumaasyung unemployment dahilsa flooding sa central district noongtaonnaiyon Sa Philippines, mataaskasimalakiang population. At the same time, lagitayongnahi-hit ngmga calamities kaya mataasang unemployment. CUT ONA
2007- 2010 (Early Quarter)
Unemployment rates were high due to the recession from 2007 – 2009 due to the U.S. Great Recession which started in 2007. (Kudlyak, M, Schwartzman, F., 2012) This cut in employment due to the fact that the 2007-2009 crisis was more severe than old. (Kudlyak, M,...
References: Bertelsmann Stiftung (2012). Singapore Country Report. Retrieved September 22, 2013, from http://www.bti-project.de/fileadmin/Inhalte/reports/2012/pdf/BTI%202012%20Singapore.pdf
CIA World Factbook (2013, February 21). Philippines Economy Profile 2013
Economic Fanatic (2013, November 22). Malaysia’s GDP | Economic Fanatic. Retrieved September 22, 2013, from http://economicfanatic.blogspot.com/2012/11/malaysias-gdp.html
Xinhua (2011, February 21). Malaysia 's GDP in 2010 grows 7.2% - GlobalTimes. Retrieved September 22, 2013, from http://www.globaltimes.cn/business/world/2011-02/624698.html.
BLS. (2010). http://www.bls.gov/. In recession_bls_spotlight.pdf.
Retrieved September 22, 2013, from http://www.bls.gov/spotlight/2012/recession/pdf/recession_bls_spotlight.pdf.
Pastrana, D. (April 6, 2009). Rising Unemployment. In Poverty in the Philippines.
Retrieved September 22, 2013, from http://www.wsws.org/en/articles/2009/04/phil-a06.html.
Almond, K.. (July 4, 2011). Who 's got the highest (and lowest) unemployment rates?. In Unemployment. Retrieved September 22, 2013, from http://edition.cnn.com/2011/WORLD/asiapcf/07/14/world.comparison.unemployment/index.html.
Please join StudyMode to read the full document