Debt watch: Ireland

Just a few months ago, the world’s attention were on Greece, then Portugal and Spain, because of their impending debt and fiscal crisis, coupled with high unemployment. Now, the world’s attention for debt watch is still on Europe, Ireland especially.

These developments abroad have impact on the Philippine economy, positively and negatively. Positively because some capital and businesses that are retreating from the adversely affected economies would be coming here, even temporarily. But negatively because business uncertainty in one continent would create a ripple uncertainty in other continents.

Meanwhile, China’s economy remain hot and humming, there is threat of high inflation as more income in the hands of average Chinese households would be seeking more goods and services to buy. The Chinese government is set to raise interest rates, which will have some negative message to business and investment there.

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