Lots of talk, little action

Sums up Philippine President Arroyo pretty well. From AP-

MANILA, Philippines - President Gloria Macapagal Arroyo on Monday used one of the most stable periods of her troubled tenure to tout her government's economic successes and promise the poor that they will benefit soon.

Making her seventh annual State of the Nation address as at least 3,000 protesters swarmed near the House of Representatives complex in suburban Quezon City, Arroyo told a joint session of Congress that she hopes the Philippines can join the ranks of wealthy nations in 20 years.

"By then, poverty shall have been marginalized, and the marginalized raised to a robust middle-class," she said.

Arroyo has gone from crisis to crisis, fending off at least three coup attempts and two impeachment efforts since taking office during the country's second "people power" revolt in January 2001.

Arroyo is big on promises, and acting tough. But what are the real results?

Nearly half of the country's 87 million people still live on $2 a day, and 10 percent of the population works abroad, sending home $12.8 billion last year in remittances.

To maintain the pace of reforms and increase growth, Arroyo has invited foreign companies to participate in huge public works projects worth nearly $1.7 billion.

Poverty, poverty, and more poverty. Plus an exodus every year of thousands of skilled Filipinos overseas. Can't blame them, considering the economic state of the country has changed little for generations. As to foreign capitol coming in, its a pittance compared to the rest of Asia. Who wants to invest in a country with corrupt, unstable politicians.

When an economic turnaround takes place in the Philippines, I'll be one of the first non-Filipinos to cheer it. It won't happen till concrete results start occuring.

Linked to- Adam, Leaning Straight Up, Perri Nelson,