From President Noynoy Aquino’s administration to the early days of Rodrigo Duterte’s presidency, investors branded the Philippines the “Darling of Asia.” <br /><br />Duterte’s economic team was confident the Philippines was on the road to upper middle-income status by 2022, which means Filipinos’ economic well-being will be at par with China, Indonesia, Malaysia or Thailand. <br /><br />But with the COVID-19 pandemic casting a dark cloud, that dream of a better life for Filipinos now seems to be simply aspirational.
