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  • Module 3 Lesson1 - Act 1

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    Heyhey Lahlah
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    The document discusses the World Bank's classification of countries into four income categories based on GNI per capita: low income, lower-middle income, upper-middle income, and high income. It asks why the Philippines is included in the lower-middle income category. The response explains that with a 2020 GNI per capita of $3,430, the Philippines is considered a developing economy in East Asia by the World Bank. It notes that while the Philippines has a competitive labor force, governance issues in previous decades slowed economic progress and scared away investors.

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    The contemporary world subject

    Original Title

    MODULE-3-LESSON1_ACT-1

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    The document discusses the World Bank's classification of countries into four income categories based on GNI per capita: low income, lower-middle income, upper-middle income, and high income. It asks why the Philippines is included in the lower-middle income category. The response explains that with a 2020 GNI per capita of $3,430, the Philippines is considered a developing economy in East Asia by the World Bank. It notes that while the Philippines has a competitive labor force, governance issues in previous decades slowed economic progress and scared away investors.

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    © All Rights Reserved
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    6 views2 pages

    Module 3 Lesson1 - Act 1

    Uploaded by

    Heyhey Lahlah
    The document discusses the World Bank's classification of countries into four income categories based on GNI per capita: low income, lower-middle income, upper-middle income, and high income. It asks why the Philippines is included in the lower-middle income category. The response explains that with a 2020 GNI per capita of $3,430, the Philippines is considered a developing economy in East Asia by the World Bank. It notes that while the Philippines has a competitive labor force, governance issues in previous decades slowed economic progress and scared away investors.

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    © All Rights Reserved
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    4 CATEGORIES OF INCOME ECONOMICS

    LOWER-MIDDLE UPPER-MIDDLE
    LOW INCOME INCOME INCOME HIGH INCOME
    ETHOPIA GHANA BRAZIL CHILE
    HAITI INDONESIA COLOMBIA JAPAN
    RWANDA MOROCCO MALAYSIA POLAND
    SOMALIA PHILIPPINES MEXICO SINGAPORE
    SOUTH SUDAN VIETNAM PERU SOUTH KOREA
    TANZANIA ZAMBIA SOUTH AFRICA UNITED STATES
    WHY PHILIPPINES IS INCLUDED TO LOWER MIDDLE INCOME?

    The Philippines is one of the developing market economies in East Asia and
    the Pacific, according to the World Bank classification, with a GNI per
    capita of USD 3,430 in 2020 and a globally recognized and competitive
    labor force.

    Over the previous few decades, the Philippines had suffered from scandals
    and governance problems that scared away investors and slowed down
    economic progress. It is crucial that the nation keeps up its good
    governance reforms by pursuing peaceful resolution, transparent and
    minimally corrupt macroeconomic management, and political dynasty
    restraint.

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