East Asia Archive

The Philippines’ upcoming presidential election in May comes at a critical time for Southeast Asia’s second-most-populous country and fifth-largest economy. After decades of anemic growth rates, the Philippines seems to have begun to turn a corner over the past six years under reform-minded President Benigno Aquino III. Yet as Filipinos prepare to go to the polls, it is unclear if the next government will be able to both sustain the progress made thus far as well as confront challenges old and new in the political, economic and security realms. Breaking With the Past Although the Philippines has been a democracy […]

The rise of a global middle class has been one of globalization’s great victories, but the surge in income and consumption in the developing world may be more of a temporary anomaly than a long-term trajectory. Some developing countries have ridden a commodities super-cycle to middle-class status, but most never made it or were far too late with the investments that might have converted the boon into more sustainable growth paths. Commodities are cyclical, and the global middle class may prove to be so as well. From 2001 to 2011, there was an unprecedented surge in the number of people […]