Start the School Year with This End in Mind

By now you might have heard the news about a positive prospect of our economy.

HSBC has predicted that the Philippines will grow into $1.69 Trillion economy by 2050.  Business Mirror reports:

THE Philippines is seen to become the 16th largest economy in the world by 2050—larger than even neighboring Indonesia, Malaysia, Thailand or even oil-producing Saudi Arabia or the Netherlands.

The British-owned global lender HSBC made the forecast in a study projecting the size of 100 economies 40 years hence, expanding the same from the original 30-country review published last year.

HSBC said the Philippine economy were to expand from the puny $112 billion at present into a leviathan capable of generating output worth $1.69 trillion or 15 times larger.

Initial reaction may be a jaw-drop or eyes wide open. The projection is a product of scientific forecast based on our present fundamentals which include current income per capita, rule of law, democracy, education levels and demographic change. The news to say the least brings a glimmer of hope in the future of this nation. For the older generation, this might be a consolation of sorts knowing that if the condition where the forecast is based stands true, then their children will reap the benefits. For us the younger generation, this is practically it. The most exciting period in Philippine macroeconomic development can happen within our lifetime. It is our generation who will lead the corporations, man the factories, and direct our government during these hopeful times. It means that we can either make or break this immensely unique opportunity for any nation. Let us be steadfast.

This brings a degree of burden in us, the younger generations since this projected growth still depends upon the quality and veracity of our people. So let us all start this academic school year with this in mind that it is in this generation, in our generation that experts predict that tremendous macroeconomic changes will occur and it is incumbent upon us to work harder to make this hopeful forecast true and meaningful to all Filipinos especially the poor and powerless.