This is an excerpt from the speech of President Aquino during the 32nd National Conference of Employers of the Employers Confederation of the Philippines held at the Marriott on May 5, 2011.(via Resty).
“Please don’t look at this as a threat. Just imagine: In a few years, our population will undoubtedly continue to grow. Can you imagine if that growth in population were coupled with an enhanced purchasing power? Can you imagine if more Filipinos had jobs that could afford them more than just their basic needs?” said Aquino.
“An economy like that would be a boon to your businesses, which would in turn lead to expansion and the hiring of more labor. The balancing act that we are currently undertaking was envisioned to create that kind of cycle,” he said.
Can these people tell us the ideal growth rate that would not affect the number of people in the working age in the future? Shall the country suffer the same fate of Japan where the retiring aged people may not have enough retirement benefits since there are not so many replacing the huge Japanese labor force when the country's population growth rate decades ago was 10 per cent. Even with that population growth rates, its economy is one the fastest growing in Asia.l Since 2005, there is a negative growth rate which could be traced not to contraceptives but to the increase in life expectancy and late marriage of the young people. There are 127 million Japanese . There are 91 million Filipinos. Why are we poor?