Quote from FutureUSRN
When China corrected their currency to make it stronger, US reacted that it isn't enough. It means China is pressured by US to correct its currency to a stronger value but China didn't do as much. Why? China liked it weaker than stronger. It means more power for domestic consumption as every dollar paid to China equals more local currency value. It also means high domestic buying power.
China is different and they can control their nation economy because of their authoritarian government. Let go of the control and they will collapse.
Ours is different, and remember we import more than we export. China export more than they import. Which is more advantageous to us since we import more. The moment the barrel of oil goes up we complain.
If we have sound economic policies, investor friendly, less red tape when it comes for foreigners to invest here then we will have a stronger Peso that is not buoy by dollar remittance, foreign loans ,etc.
One thing I hate about some fellow Filipinos is they are so happy when the dollar is stronger and the Peso depreciates because that means they can get a lot of pesos when their relatives send them dollars. They don't realize that they are spending more for items which would have been cheaper if our peso is stronger.
One question, which do you prefer when you take the NCLEX, pay the $200 at the current Php49 or when the peso depreciates at PHP55.
The weaker the peso that more we spend..
This is a just a joke although there is some truth in it. If the peso is weak, you go carrying a bag full of 100Pesos and enter a grocery and buy something which you put in a tiny little bag. But when the peso is stronger, you enter a store with a tiny bag with just one 100peso bill and came out carrying a sack full of groceries.
I believe a stronger peso backed by sound economic policies, investor friendly climate will benefit the whole Filipino people.
This is my last post.