PH due for a recession? But, where's all this money coming from?
I feel like this question has been thrown around for the last five years or so. What I see 'on the ground' is that real estate prices are insanely high, there is so much investment into new businesses (SMEs to large enterprises) and a lot more conspicuous consumption from a thriving new middle and upper middle class. Where's all the money coming from? One significantly successful artist friend of mine said he personally sees a lot of success in his industry coming from China. He recently participated in an exhibition in HK and spoke well of Chinese interest in art and how it is buoying the prices of art even in the Philippines. It's a similar story in Real Estate. The consensus had been that real property prices were ripe for a correction this year (2018). However, there was no such correction. Industry experts pointed to the influx of Chinese immigrants in Manila as to why instead of a correction, there was actually a price increase! But, could all this mo