5 Million, 100 Million

by Boy Turon

There is this popular idea that the correct model for economic development for the Philippines is Singapore. From the time of the late Cory Aquino up to the present administration of her son, Benigno Aquino III, most of these economists, technocrats and economic managers from the academe, business sector, and government would extol Singapore’s adherence to economic liberalization as our way out of poverty.

After all, Singapore is prosperous and a key financial center in Asia with a high standard of living as opposed to the Philippines’ third world status. You cannot argue with success and by the looks of it, Singapore is a success model in terms of economic development.

But what is the hard fact behind it?

Singapore is a city state with a population of 5 Million as compared to the population of the Philippines of 100 Million.
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