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If the Yellowtards were the CEO of a company who always got their economic and business forecast wrong, they would have been fired a long time ago. Before the elections and even after, they predicted that we would go the way of "Socialist" Hugo Chavez of Venezuela when in fact President Rodrigo Duterte is more of a "libertarian" who does not want to get involve in dictating what business should do.
President Duterte is interested in creating a good business climate by establishing peace and order and the infrastructure to make businesses prosper.
Rappler's headline on January 12, 2017, wrote: "PH economy to stand out in Asia in 2017 – HSBC".
The online news organization also stated that the "Global financial giant HSBC expects the Philippines to continue its stellar economic growth and stand out among its Asian neighbors this year."
According to HSBC economist Joseph Incalcaterra in the HSBC Asian Economics Quarterly Report for Q1 2017 released on Thursday, January 12. "The Philippines continues to stand out as one of Asia's strongest performers. Despite an uncertain external environment and weak regional growth, the economy expanded by 7.1% year-on-year in Q3 2016, the fastest pace in almost 3 years… and placing the government's 6-7% growth target for 2016 well within reach,"
In contrast, HSBC predicts the rest of Asia, excluding giants China, India, and Japan, would grow by 3.5% for 2017.