Sound and fury, signifying nothinghome/Business/Business Columns/Sound and fury, signifying nothingELECTIONS in this country are fascinating to watch, because nowhere in the world is navel-gazing practiced on such a massive scale. This unique stability is, in at least political terms, the country’s strength and perhaps its greatest weakness. On Thursday, London-based consultancy Capital Economics and Fitch Ratings both offered their judgments of the outcome of the elections. Their conclusions were ambiguous, which is perhaps the best any analysis of this political system can muster. The mistake that Capital Economics, Fitch Ratings, and just about every other political and economic analyst both inside and outside the Philippines make is in misidentifying this political system as an actual democracy.

Source: Manila Times May 18, 2019 16:16 UTC