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peter's picture

What Is In Store For The Philippine Economy?

Submitted by peter on Tue, 02/10/2009 - 08:10
in

"FedEx Corporation, the world's largest air cargo shipper, will close its air shipment hub in Subic Bay, northern Philippines, and move it to Guangzhou, capital city of China's Guangdong Province, sources reported."

http://www.chinaknowledge.com/Newswires/News_Detail.aspx?type=1&NewsID=20917

"MANILA--Philippine exports plunged by a record amount in December, dragged down by a contraction in electronics shipments and weaker sales to major markets in China, Japan and the U.S...Preliminary data on goods exports showed that December shipments dropped 40.4% to $2.67 billion from $4.48 billion in the same period a ..."

http://online.wsj.com/article/SB123425036453967335.html?mod=googlenews_wsj

These are some pretty drops in the bucket.  What does this mean for expats?

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