[Post 1162] How Did The Philippines Become One Of Asia's Most Unequal Countries? | Insight

Summary

According to Oxfam, inequality is rising in Asia. The richest 10% of Asians capture 60% - 77% of national income. The poorest half? Just 12% - 15%. 

The Philippines is one of the most unequal countries in Asia. While the archipelago is aiming to become a middle-class society free of poverty by 2040, its top 1% of earners still capture nearly one fifth of the national income. The bottom half shares just 14 per cent. 

For Filipino youths, inequality starts even before they are born and continues to influence their whole life. Deep-rooted social stratification shaped by class forms structural barriers in access to quality education and land ownership. Now, many struggle to move up the social ladder.

Inequality was exacerbated by COVID-19. Although the Philippines is healing, the recovery has been uneven. The wealthy class are getting richer post-COVID. The poor, who suffered the most during the pandemic, are struggling with the rising cost of living.