write a 500 word essay on what you think will happen to the philippines fifty years from now
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Answer:
The Philippines is forecast to become a highly developed country in the next 50 years (2069) as its economy is projected to continue growing at least 6% per year. If so, the PH would have a GDP of $7.423 trillion in 2069. The population of the Philippines is expected to grow to about 160 million people in 2069 and if the Philippines has a GDP of $7.423 trillion, the GDP per capita would be $46,395, which would qualify it as a highly advanced economy by today's standards. And with this advanced economy, Filipinos would assumingly enjoy a very high standard of living (according to the HDI).
Of course, this scenario for the year 2069 will only be true if the Philippines conducts major reforms in our infamously weak governance system to increase the effectiveness of administration and reduce corruption. Filipinos need to remove the current system of patronage and family loyalties and instead impose a system of meritocracy, similar to that in Singapore.
Economic reforms are also highly needed such as continued spending in infrastructure to make transportation easier, easing the process for establishing businesses and encouraging people to start their own ventures in all fields, reducing barriers for investment (especially foreign), strengthening and prioritizing our manufacturing, creative and technology sectors, making our agricultural sector more productive and resilient to the predicted effects of climate change, etc.