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The Philippines is on an infrastructure binge: 57 projects are in the pipeline (though contracts have been awarded for only seven) and next year’s budget allots 562.3 billion pesos ($12.8 billion), around 4% of GDP, to infrastructure, with a further 802.9 billion pesos planned for 2016. The splurge is an attempt to maintain economic growth fed in part by a recent surge of foreign direct investment (FDI). Money flowing into the country has tripled since 2010, when Benigno Aquino was elected for a non-renewable six-year term as president. But at 1.4% of national income, FDI remains low by regional standards; it is the measure by which the Philippine economy has long been found wanting.Yet this may change. After years of puttering along as the tiger economies in the region roared, the Philippines is finally showing some growl of its own. Between 2008 and 2012, GDP grew by an average of 4.7%, rising to 7.2% in 2013—higher than any East Asian country except China—despite being hit by one of the most powerful typhoons ever recorded.
The World Bank forecasts growth of nearly 7% both this year and next. And in May S&P, a rating agency, raised the mood further by increasing the country’s long-term credit rating to BBB, two notches above the investment-grade baseline and higher than India and Brazil.
Agost Benard of S&P says the new rating is the result of stable politics and better governance. The days of popular oustings of presidents—the last overthrow was in 2001—are distant. Revenue growth has exceeded GDP growth for the past three years, thanks in large measure to Mr Aquino’s reforms of the internal-revenue service and the customs bureau. Investment and private consumption also posted strong gains in 2013, both aided by remittances from Filipinos working abroad. These have risen steadily since 1998, and in 2013 topped $25 billion, equivalent to around a tenth of GDP. An influx of tourists, lured to scenic beaches and jungle treks, has helped.
But concerns remain. Inflation hit a 33-month high of 4.9% in July, prompting the central bank to raise interest rates for the first time in over three years. Corruption remains endemic despite official campaigns to stamp it out. The Philippines still falls in the bottom half in the Corruption Perceptions Index kept by Transparency International, a lobby group. It does similarly badly in the World Bank’s “Doing Business” table: starting a business in the Philippines can leave entrepreneurs mummified in red tape. Foreign investors are frustrated by rules limiting them to 40% stakes in local firms. Those who invest anyway fret about the expensive electricity (when it is available) and poor infrastructure, notably the creaking ports.
Jim Yong Kim, the president of the World Bank, said the Philippines could be “the next economic miracle in Asia”. It would help if growth were felt by the poorest residents; at the moment, poverty rates remain stubbornly high. Much employment still happens in the informal sector. Some wonder where the rapidly-expanding labour force—a result of having a median age of just 22.3 years, five years lower than its South-East Asian neighbours—will find jobs. A youth bulge can be a great asset for an economy. Without jobs, however, it can turn into a liability very quickly.
About the game:
USA as a world power? In E-Sim it is possible!
In E-Sim we have a huge, living world, which is a mirror copy of the Earth. Well, maybe not completely mirrored, because the balance of power in this virtual world looks a bit different than in real life. In E-Sim, USA does not have to be a world superpower, It can be efficiently managed as a much smaller country that has entrepreneurial citizens that support it's foundation. Everything depends on the players themselves and how they decide to shape the political map of the game.
Work for the good of your country and see it rise to an empire.
Activities in this game are divided into several modules. First is the economy as a citizen in a country of your choice you must work to earn money, which you will get to spend for example, on food or purchase of weapons which are critical for your progress as a fighter. You will work in either private companies which are owned by players or government companies which are owned by the state. After progressing in the game you will finally get the opportunity to set up your own business and hire other players. If it prospers, we can even change it into a joint-stock company and enter the stock market and get even more money in this way.
In E-Sim, international wars are nothing out of the ordinary.
Become an influential politician.
The second module is a politics. Just like in real life politics in E-Sim are an extremely powerful tool that can be used for your own purposes. From time to time there are elections in the game in which you will not only vote, but also have the ability to run for the head of the party you're in. You can also apply for congress, where once elected you will be given the right to vote on laws proposed by your fellow congress members or your president and propose laws yourself. Voting on laws is important for your country as it can shape the lives of those around you. You can also try to become the head of a given party, and even take part in presidential elections and decide on the shape of the foreign policy of a given state (for example, who to declare war on). Career in politics is obviously not easy and in order to succeed in it, you have to have a good plan and compete for the votes of voters.
You can go bankrupt or become a rich man while playing the stock market.
The international war.
The last and probably the most important module is military. In E-Sim, countries are constantly fighting each other for control over territories which in return grant them access to more valuable raw materials. For this purpose, they form alliances, they fight international wars, but they also have to deal with, for example, uprisings in conquered countries or civil wars, which may explode on their territory. You can also take part in these clashes, although you are also given the opportunity to lead a life as a pacifist who focuses on other activities in the game (for example, running a successful newspaper or selling products).
At the auction you can sell or buy your dream inventory.
E-Sim is a unique browser game. It's creators ensured realistic representation of the mechanisms present in the real world and gave all power to the players who shape the image of the virtual Earth according to their own. So come and join them and help your country achieve its full potential.
Invest, produce and sell - be an entrepreneur in E-Sim.
Take part in numerous events for the E-Sim community.
