![]() ![]() It seems to me that in many countries there has been a revolt against the elite and elitism. This phenomenon has given rise to the number of populists who had grabbed political power in countries like the United States, Russia, Hungary, Brazil and many others. ![]() In the Philippines and all over the world, income inequality had become worst. In other words “the rich are getting richer while the poor remain poor.” She was saying in layman’s terms that while the Philippines had one of the world’s highest GDP growth rate, the beneficiaries were predominantly the wealthy elite. She observed that in the Philippines, the high economic growth rate had not resulted in any meaningful reduction in the poverty rate. Rong Qian of the World Bank made an observation that, to me, was very disturbing. In a recent economic briefing to the Management Association of the Philippines, Dr. ![]()
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