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BY EDGARDO J. ANGARA
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February 2, 2018
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THE WORLD Economic Forum (WEF) recently launched its second Inclusive Development Index (IDI) report, where the Philippines ranked a dismal 38th out of 74 developing economies surveyed.
This ranking puts the Philippines way below its peers in the Association of Southeast Asian Nations, namely Malaysia (13th), Thailand (17th), Vietnam (33rd), and Indonesia (36th). Singapore was not included.
The index includes three main pillars: growth and development; inclusion; and intergenerational equity — which refers to an economy’s sustainable stewardship of natural and financial resources.
We registered a below-average healthy life expectancy of 61.1 years old — putting us in the bottom 40 percent of the survey.
While we ranked high in terms of the dependency ratio (43.6 percent), we rated very poorly for Wealth GINI, which refers to the level of inequality in the economy.
The report emphasizes: “Slow progress in living standards and widening inequality have contributed to the political polarization and erosion of social cohesion in many advanced and emerging economies.”
If our society cannot close the gaping gap between the few who are very rich and the many who are poor, it’s not entirely impossible that a new class war will erupt.
And we have no one to blame except ourselves for allowing that situation to persist. (Email: angara.ed@gmail.com| Facebook &Twitter: @edangara)/PN
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