worsening U.S. economy; in a resilient world -?

U.S. is running out of options to stop recession. That's was the headline on cnbc.com. With the U.S. headed for more trouble, i'm wondering if the world economy is resilient enough to avoid being dragged down.

I think it just may be. I was mulling over this today and it seems that with oil going down, countries like the Philippines have much better prospects even with a faltering U.S. economy.

Many writers have already argued before that American consumption no longer takes so large a slice of Philippine exports and that ultimately we (the Philippines) are sufficiently decoupled from the U.S. so as not to be dragged down with them into a recession.

In light of the growing demand of China and India for many goods and services we provide, that seems quite true. Another factor is that we may soon see countries like the Philippines tapping into the markets of rich oil producing countries.

Anyway, it's a nice thing to think about. I haven't had much time to fully convince myself about this though. Suffice it to say, given that more and more people believe America is in more trouble than we see right now, it would be nice to know if indeed the world's economy will keep chugging along even as our American friends work through a recession. Specially if we're thinking of putting more money into Philippine Equities.

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