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Wednesday, November 5, 2008

Nannies Worse Off Than Hedge-Fund Guys in Rout

As Japan and the U.S. grapple with the ``R'' word, or recession, the Philippines is dealing with one of its own.

For Asia's 13th-biggest economy, the ``R'' word is remittances.

Read more here.

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1 comment:

  1. SameerNovember 7, 2008 at 10:43 PM

    Talking about the effects of the recession in the US in Asia, isn't India supposed to be more safely placed than, say, China? Our exports are a lower percentage of our GDP than the corresponding figure for China, which means India's industry shouldn't be as hard-hit by the recession as China. Also, our GDP keeps growing at 7-8%, no matter what. Any comments?

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