ECCP ANNUAL REPORT 2009

By Henry J. Schumacher

THE BUSINESS ENVIRONMENT.  After the crash of the global financial markets and the following global economic crisis in 2008, the Philippine export industry had to adjust to substantially lower demand, reduce the labor force or at least reduce work-days and go through a period of down- and –rightsizing late in 2008 and the early part of 2009. While the first half of the year was still governed by uncertainties, it became obvious during the second half that Asia and the Philippines would be spared from the worst effects of the crises.

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