N-11 Market Seeks US Partnership
That book I told you about yesterday, The Growth Map: Economic Opportunity in the BRICs and Beyond, by Jim O’Neill, talks about 11 up-and-coming countries that are going to be the real engines of growth for the global economy.
They are dubbed the “Next 11″ or N-11, and one of them is the Philippines.
And then we hear this from the BBC:
The Philippines has confirmed that it is discussing ways to “maximise” defence ties with the US amid territorial disputes in the region.
In a statement, the foreign affairs secretary cited the need for more joint military exercises to protect national interests.
The statement was in response to a Washington Post story alleging a possible return of US bases.
Analysts say the move is an attempt to contain the influence of China.
This could not only offer the Philippines some regional protection (whether it’s warranted or not is up for debate), but an economic trigger. U.S. bases bring a lot of money to a city or region, and the Philippines could use it.
The country is growing too quickly, but it’ll need revenues to keep up with other kinds of growth – like population and resource demand.
Keep the Philippines on your watch list…
