Something BAD is happening to the Philippines...

Your playbook for doing business in Asia : https://statrys.com/youtube?v=CBqmA_84OAY Open a business account: https://statrys.com/getstarted?utm_source=youtube&utm_medium=organic_video&utm_campaign=youtube_description&utm_content=CBqmA_84OAY 0:00 Intro 3:46 When nobody signs 7:20 The money that never arrived 11:56 The one thing that works 13:30 The Clock nobody is watching The Philippines economy is shifting as ASEAN trade dynamics evolve. In three years, the Philippines put about 10 billion dollars into flood defences. Sea walls, drainage, river barriers. In a country hit by storms every few weeks. Investigators found that some of those projects never existed. A senator was arrested for plunder. The Speaker of the House was charged alongside 86 other people. Then the cleanup did something nobody expected. In one quarter it cost the country more than the theft had cost in three years. Growth fell to 2.3%, the weakest in Southeast Asia. The peso broke its all time low four sessions in a row. Fitch moved the outlook to negative and named the scandal in writing. In this video I explain what's really happening in the Philippines. Why the companies already operating there are the first to stop sending money. And the one threat that matters more than oil or corruption, even though it never makes the news. #Philippines #Corruption #Economy