Is the Philippines Finally Turning Around?

Growth is up. The deficit is down. President Arroyo has survived impeachment threats. The service sector is thriving. Yet much remains to be done

Workers are hurriedly putting together the finishing touches on the International Convention Center in Cebu, one of the Philippines' oldest cities, ahead of a summit of East Asian leaders next month. No one, not even Philippines President Gloria Macapagal Arroyo, is sure whether the new convention center will be ready in two weeks to receive dignitaries from Japan, China, South Korea, and Southeast Asia. Indeed, a nearby hotel may be dragooned as a backup venue.

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