Asia will be first to rise out of global recession: ADB

Asia's recession appears to have touched bottom and the region is likely to be the first to climb out of the global economic slowdown, the Asian Development Bank's chief economist said Thursday.

However, ADB's Lee Jong-Wha said it would be difficult for the world's most populous region to return to the high-growth scenarios of 2007 and earlier unless the industrialised world also recovers from a deep recession.

Speaking at a news conference in Manila, Lee said that compared to other regions, Asia -- outside of Japan -- had mostly managed positive growth throughout the crisis, albeit at lower levels.

He added that the ADB was now seeing stronger numbers in terms of "quarter on quarter industrial production," and concluded that "Asia will see recovery faster than the industrialised countries."

Expansionary monetary policies implemented by governments around the region loosened credit and lowered interest rates, helping Asians spend more money to keep local economies ticking over, Lee said.

Meanwhile large countries such as China and India "maintained relatively strong and resilient growth which provided demand for regional exports" from Asian neighbours.

"Clearly now we are in the transition from recession to recovery. The question is how fast the recovery will happen," Lee said.

"No one can say for sure."

The Manila-based bank said it will update on September 22 its flagship Asian Development Outlook forecasts, which predicted earlier this year that developing Asia will see its economic growth fall to 3.4 percent this year compared to 6.3 percent in 2008.

Lee stressed that "the recovery is still not that strong" and that Asian governments must not pursue policies that may damage any green shoots, ensuring they review current stimulus policy once rehabilitation holds.

Climbing out of the crisis would be more difficult due to the "unprecedented synchronised recession" of the industrialised countries, he said, adding that Europe was apparently faring worse than previously forecast.

In Asia, Lee said Malaysia was also performing "worse than what we expected in March" because its high-tech industries were dependent on external demand, which was declining and not being offset by demand at home

PS. I just got back from a few days vacation in Guangzhou and HK to celebrate Gregg's bday...I was amazed how fluent he is with the Mandarin language...Way to go Dada!!!

How to Succeed in Life by Andrew Carnegie

From The Pittsburg Bulletin, 19 December 1903. Reprinted from the New York Tribune.


Everybody wants to preach to the young, and tell them to be good and they will be happy. I shall not enter far upon that field, but confine myself to presenting from a business man's standpoint of view, a few rules, which, I believe, lie at the root of business success.

First--Never enter a bar-room. Do not drink liquor as a beverage. I will not paint the evil of drunkenness, or the moral crime; but I suggest to you that it is low and common to enter a bar-room, unworthy of any self-respecting man, and sure to fasten upon you a taint which will operate to your disadvantage in life, whether you ever become a drunkard or not.

Second--I wish young men would not use tobacco--not that it is morally wrong, except in so far as it is used in excess and injures health, which the medical faculty declares it does. But the use of tobacco requires young men to withdraw themselves from the society of women to indulge the habit. I think the absence of women from any assembly tends to lower the tone of that assembly. The habit of smoking tends to carry young men into the society of men whom it is not desirable that they should choose as their intimate associates. The practice of chewing tobacco was once common. Now it is considered offensive. I believe the race is soon to take another step forward, and that the coming man is to consider smoking as offensive as chewing was formally considered. As it is practically abandoned now, so I believe smoking will be.

Third--Having entered upon work, continue in that line of work. Fight it out on that line (except in extreme cases), for it matters little what avenue a young man finds first. Success can be attained in any branch of human labor. There is always room at the top in every pursuit. Concentrate all your thought and energy upon the performance of your duties. Put all your eggs into one basket and then watch that basket, do not scatter your shot. The man who is director in a half dozen railroads and three or four manufacturing companies, or who tries at one and the same time to work a farm, a factory, a line of street cars, a political party and a store, rarely amounts to much. He may be concerned in the management of more than one business enterprise, but they should all be of the one kind, which he understands. The great successes of life are made by concentration.

Fourth--Do not think a man has done his full duty when he has performed the work assigned him. A man will never rise if he does only this. Promotion comes from exceptional work. A man must discover where his employer's interests can be served beyond the range of the special work allotted to him; and whenever he sees his employer's interests suffer, or wherever the latter's interests can be promoted, tell him so. Differ from your employers upon what you think his mistakes. You will never make much of a success if you do not learn the needs and opportunities of your own branch much better than your employer can possibly do. You have been told to "obey orders if you break owners." Do no such foolish thing. If your employer starts upon a course which you think will prove injurious, tell him so, protest, give your reasons, and stand to them unless convinced you are wrong. It is the young man who does this, that capital wants for a partner or for a son-in-law.

Fifth--Whatever your wages are, save a little. Live within your means. The heads of stores, farms, banks, lawyers' offices, physicians' offices, insurance companies, mills and factories are not seeking capital; they are seeking brains and business habits. The man who saves a little from his income has given the surest indication of the qualities which every employer is seeking for.

Sixth--Never speculate. Never buy or sell grain or stocks upon a margin. If you have savings, invest them in solid securities, lands or property. The man who gambles upon the exchanges is in the condition of the man who gambles at the gaming table. He rarely, if ever, makes a permanent success. His judgment goes; his faculties are snapped; and his end, as a rule, is nervous prostration after an unworthy and useless life.

Seventh--If you ever enter business for yourself, never indorse for others. It is dishonest. All your resources and all your credit are the sacred property of the men who have trusted you; and until you have surplus cash and owe no man, it is dishonest to give your name as an indorser to others. Give the cash you can spare, if you wish, to help a friend. Your name is too sacred to give.

Do not make riches, but usefulness, your first aim; and let your chief pride be that your daily occupation is in the line of progress and development; that your work, in whatever capacity it may be, is useful work, honestly conducted, and as such ennobling to your life.

To sum up, do not drink, do not smoke, do not indorse, do not speculate. Concentrate, perform more than your prescribed duties; be strictly honest in word and deed. And may all who read these words be just as happy and prosperous and long lived as I wish them all to be. And let this great fact always cheer them: It is impossible for any one to be cheated out of an honorable career unless he cheats himself.

My Beloved Country

It was just a few months that I was riding high on the wave of motherhood. It seems like just yesterday when I was beaming with pride with the thought of having my dream (at 15 I knew I was going to be a mother someday)come true and being complete as a woman.

But now, looking how things are in the Philippines, I write this piece with a heavy heart and a few tears ran free. Is there hope for this country? Is there an assurance that when I choose to stay here and decide not to move to another country, I would be assured that my son would grow up having the same previleges and options that the other kids his age would have from the other part of the world?

For now, I can only pray and hope, that the best is yet to come for my beloved country and its people. That those brave souls who gave up their lives just for us to have the freedom that we are enjoying now, did not just die in vain.

I can only ask God for his mercy and grace to pour unto this country and its inhabitants...

AJ

With the birth of my son came a 180 degree change in my life, the direction I'm taking and things I consider my treasure.

My aspirations and dreams in life dramatically changed. Everything I do, I first think of him. Moment's came when I feel like just letting go and being carefree but then, I heard that whistle, pointing me to AJ. I could not afford to get sick, much worst, die and leave an almost toddler. I cannot afford to raise a son with my bachelor's degree and meager income, I must aspire for more and be more for my son.

Tell Me

BEcause you inspire me in so many ways I can't count--I wish to be eloquent, to say the right words, but its better for some to be left unsaid that I can sum them all up in a poem.

Which of my feelings is real?
Which is really mine?
Which goes with the bubble and which one would die?
Do you know how to count raindrops?
Do you know where a rainbow ends?
Have you seen the earth in its perfect beauty?
With your heart, do you know how love springs?
If you have the answer, tell me when when the world is asleep.

Spring Of The Heart

Spring time has begun (like the cracking of the rays of the sun at dawn) at some parts of the world. Living in a tropical country, I have only seen, summer, summer, summer and summer (I swear, no complaints!). But the rice fields of Narra,Palawan has given me, over and over again, a glimpse of what spring is like... I was at that time 15 ( a spring chicken) and I instantly made that strong connection with my inner self, my spirit...that when I see a young rice plant with its beautiful cool green color dancing in harmony with the every sway of the wind, I let go of a contented sigh, not knowing where to put the overflowing joy and calmness of the moment...It feels great to be alive...Those images and memories impacted me, and I carry them around.

After going through a lot emotionally- I have trudged from scorching deserts to sad winters--now my heart is dancing and basking in the glory and joys and beauty of spring...I have long awaited this, the spring of my heart...

Pinoy slum teacher is a CNN hero (Written by Sabrina Oliveros)

Efren Peñaflorida , a 27-year-old Filipino teacher and youth worker, will be introduced today as a “CNN Hero” for providing Filipino youth growing up in slums an alternative to gang membership through education. The story of how Peñaflorida founded the Dynamic Teen Company (DTC) that has taught basic reading and writing to 1,500 children will be aired on the CNN talk show Larry King Live today, March 6, 6:00 PM Manila time.

CNN Heroes is an ongoing endeavor of the international cable news network to feature 32 difference-makers based on nominations submitted from all over the globe. The top 10 heroes for 2009, as selected by a panel of judges, will be honored at the end of the year. The international public will then vote for the Hero of the Year.

The CNN campaign with the slogan “Ordinary People, Extraordinary Impact” honors people who fit the bill of community crusader, everyday superhero, medical marvel and young wonder as well as people who are engaged in defending the planet, protecting the powerless and championing children.

Peñaflorida, himself once threatened by the dangers he now works to steer kids away from, belongs to that last category.

“High school was hell for Peñaflorida,” reported businessmirror.com and manilatimes.net. As a kid growing up in the slums outside of Cavite City, Peñaflorida lived in the shadow of local gangs who “constantly harassed and threatened” him, as they did other students in his school who wound up either joining the gangs or leaving school altogether. Still, Peñaflorida was able to enjoy a privilege—many of his peers had no chance at education in the first place.

Then, at 16 years old, he decided to “combine two problems to create a solution.” Together with three other high school students, Peñaflorida began reaching out to slum kids and laid the foundations for the DTC. According to dynamicteamcompany.org, Peñaflorida started his advocacy in 1999 by feeding and teaching slum children, as well as helping them stage performances and sell recycled products. As the DTC expanded over the last decade, Peñaflorida and his colleagues have realized their vision to “teach unschooled, labor-exploited and neglected children.” Former drug users, petty thieves and scavengers have all joined the DTC as volunteers, and thousands of unschooled children are now able to read and write.

Rhandolf Fajardo, who joined a gang in sixth grade, told CNN.com: “I thought I'd get stuck in that situation and that my life would never improve. I would probably in jail right now, most likely a drug addict—if I hadn't met Efren.”

Answered Peñaflorida: “They need education to be successful in life. It's just giving them what others gave to me.”

“I always tell my volunteers that you are the change that you dream and I am the change that I dream,” he added, noting that he wants to bring his “pushcart classes” beyond the slums of his childhood. “And collectively we are the change that this world needs to be.”