It was a hell of a story, a beautiful dream. But it was also a great and fatal illusion. The world economy was on a sustainable growth path – this was the opinion of the majority of managers and company owners, it was the view among bankers and economists. A high, growing, inflation-free growth of 4 – 5% per annum was possible, globally! Finally, major parts of the world population would leave poverty behind them.

The Joint Foreign Chambers (JFC) recently launched a paper called Impact of the Global Economic Crisis on the Philippines Preparing to Rebuild Foreign Investment Flows and outlined eight components of recommended strategy growth. One of the recommendations are BUILD REALLY BIG WINNERS. We said that fortunately, there are quite a number of sectors that offer great potential to create millions of new jobs and billions of dollars of new direct and indirect revenues for the public sector.