Economic System Needs ‘Major Changes’: Global Poll


Backgrounder: Country-by-Country Results

THE AMERICAS

Brazil

Brazilians share the global view that the current economic crisis indicates major changes are needed in the international economic system, and they are among the publics that agree major changes should occur in their own economy as well. While a majority of Brazilians believe they have been negatively affected by the downtown in the global economy, they are among the most optimistic that their situation will improve within a year.

  • Seventy seven per cent of Brazilians believe major changes are necessary in the international economic system, while nearly as many (71%) say major changes are also necessary in Brazil’s economy.
  • A slight majority (51%) say the recent downturn in the global economy has negatively affected their family at least a fair amount, although fewer hold this view now than in mid-2008 (61%).
  • Seventy eight per cent of Brazilians who have been negatively affected are fairly optimistic that conditions will improve within a year (44% within six months), while only 15 per cent believe it will take two years or longer.
  • Thirty seven per cent of Brazilians believe their family has been negatively affected by a shortage of available financial credit, while a majority (59%) believe they have been negatively affected only a little or not at all.
  • Nearly eight in ten (79%) say that rising food prices have had a negative effect on their family, although this is fewer than held this view in mid-2008 (91%).

 

Canada

Canadians agree with the global view that major changes are needed in the international economic system, as well as believing that such changes are needed in the Canadian economy. Canadians are one of seven countries with a majority saying they have not been negatively affected by the downturn in the global economy, and unlike most other countries polled, only half of Canadians say they have been negatively affected by rising food costs. Very few say they have felt negative effects from a shortage of available financial credit. 

  • Sixty nine per cent of Canadians feel that major changes in the international economic system are needed in the face of the current economic crisis, whereas only 22 per cent feel that only minor changes are necessary. A majority (56%) also believe that major changes are needed in their own economy.
  • A substantial number (47%) of Canadians agree that they have been negatively affected by the downturn in the global economy, however, a slight majority (52%) say they have felt little or no negative effects, showing little change from mid 2008.
  • Of those Canadians who feel that they have been negatively affected by the economy, 53 per cent say it will improve within a year or less, while 40 per cent say it will take two years or longer.
  • Only 22 per cent of Canadians say that a shortage of available financial credit for loans and mortgages has had a negative effect on their family, while a majority (75%) do not feel that they have been negatively affected.
  • Canadians are divided about whether rising food costs have negatively affected their families, with only half (50%, down from 60% in mid 2008) agreeing that they have been negatively affected.

 

Chile

Chileans broadly agree that the current economic crisis warrants major changes in both the international economic system and their own economy. A majority of Chileans also believe they have been negatively affected both by the economic downturn and the rising cost of food, however, a modest number believe their economic situation will improve within the next year.

  • Four in five Chileans (80%) believe that the current economic crisis points to the need for major changes in the international economic system and three in four (75%) feel that changes are needed in Chile’s economy.
  • Two-thirds (67%) of Chileans feel that their families have been negatively affected by the economic downturn.
  • A plurality of Chileans (42%) feel that their economic situation will improve within the next year, while twenty six per cent say it will take two or more years.
  • A slight majority of Chileans (51%) say they have been negatively affected by the shortage of available financial credit for mortgages and other loans, while forty seven per cent say the shortage has not significantly affected them.
  • A very large majority (82%) believe that they have been negatively affected by rising food costs. Only 15 per cent say that they have not been significantly affected by these rising costs.

 

Central America

Central Americans widely believe that major changes in the international and local economic systems are needed to deal with the current economic crisis, and the majority has felt negatively affected by the global downturn. However, people living in Central America are more optimistic about how long it will take their economic situations to improve than most other countries polled, with a significant number believing their situation will improve within six months.

  • Eighty per cent of respondents in Central American agree that major changes in the international economic system are needed to deal with the current economic crisis, and 75 per cent believe that changes are also needed in their local economic systems.
  • Seventy two per cent of people in Central America say they have been negatively affected by the global economic downturn, while one quarter (24%) say they have felt little or no effects.
  • A slight majority (52%) of respondents who say they have been negatively affected by the economic crisis believe that their economic situation will improve in the next year or less (33% within six months), whereas 19 per cent feel that it will take two or more years.
  • Sixty one per cent of respondents in Central America believe that they have been negatively affected by the shortage of available financial credit for mortgages and other loans, while 35 per cent say they do not feel significantly affected.
  • Nearly nine in ten (89%) in Central America say they feel negative effects from rising food prices, while 9 per cent feel that they have been only slightly affected or not at all.

 

Mexico

Mexicans express relatively modest agreement that major changes are necessary in the international economic system in comparison to other publics polled. They are one of just a few countries where even more of the public say the current crisis indicates changes are needed in their own economic system. Mexicans who have been negatively affected by the crisis are the most pessimistic out of all publics that their situation will improve in the near future. Since mid-2008, Mexico has seen the most dramatic increase out of all countries polled in those who feel they have been negatively affected by the shortage of financial credit for mortgages and other loans.   

  • Forty two percent of Mexicans believe that the current economic crisis necessitates major changes to the international economic system, while 27 per cent call for minor changes. However, a slight majority (52%) believe that major changes are necessary in the Mexican economy.
  • Eighty two per cent of Mexicans say they have felt negatively affected by the downturn in the global economy, while 17 per cent say they have felt few or no effects.
  • Just one-quarter (25%) of Mexicans who say that have been negatively affected by the downturn expect their situation to improve within the next year and 69 per cent do not expect an improvement for at least two years or more (64% two to three years).
  • More than nine in ten Mexicans (91%) say they have been negatively affected by the shortage of financial credit for mortgages and other loans, up sharply from 49 per cent in mid-2008. Those saying they have not been affected significantly have fallen to 8 per cent (down from 50%).
  • Nearly all Mexicans (94%) feel their families have been negatively affected by rising food prices.

 

United States

Americans agree with the largely held global view that major changes are needed in the international economic situation, but an even greater number believe major changes are also needed in their own country’s economy. Majorities say they have been negatively affected by rising food prices and the global economic downturn, but those Americans negatively affected are split on whether their situation will improve in the immediate future or whether improvements will only occur in the longer term.

  • Sixty four per cent of Americans think that the current economic crisis indicates the need for major changes in the international economic system, while three-quarters (75%) agree that major changes are also needed for the American economy.
  • A majority of Americans (58%) say the recent economic downturn in the global economy has negatively affected their family at least a fair amount.
  • Less than half (47%) of Americans negatively affected by the recent economic developments expect the situation to improve within a year or less, while nearly the same number (46%) believe it will take two years or longer.
  • Twenty nine per cent of Americans say that a shortage of available financial credit for loans and mortgages has negatively affected their family, while a majority (70%) say it has not had a significant negative effect.
  • A majority of Americans (62%) feel that rising food prices have negatively affected their families (down from 70% in mid-2008), while 38 per cent say the rising prices have not had a significant negative effect (up from 29% in mid-2008).



EUROPE

France

The French have among the largest majorities out of all countries polled agreeing that the current economic crisis indicates major changes are needed in the international economic system. And nearly as many believe major changes should occur in their own economy as well. Although relatively small numbers in France say they have been negatively affected by the global economic downturn and the shortage of financial credit and loans, those who have been affected are more pessimistic that their situation will improve in the immediate future.

  • More than eight in ten (83%) in France believe that the current economic crisis points to the need for major changes in the international economic system, and 79 per cent feel that major changes are needed in the French economic system as well.
  • Less than half (43%, down from 49% in mid-2008) say they or their families have felt negative effects from the global economic downturn, while a majority (54%) say that it has had few or no negative effects on their lives.
  • Fifty per cent of those negatively affected believe that their personal economic situation will not improve for two or more years, whereas 37 per cent believe that it will only take a year or less to improve.
  • Twenty two per cent say that the shortage of available financial credit for mortgages and loans has had a negative effect on their families, while three out of four (75%) say this has not negatively affected them.
  • Nearly seven in ten (69%) French respondents agree that rising food prices are having a negative effect on their lives (down from 81% in mid-2008).

 

Germany

Germans agree with the global consensus that major changes in the international and national economic systems are needed to deal with the current economic crisis. The majority of Germans say they have not personally felt negative effects from the global economic downturn or the shortage of available financial credit. Yet, those who have felt the negative effects are more pessimistic that their situation will improve in the near future than those in other countries polled.

  • Seventy five per cent of Germans think that the current economic crisis points to the need for major changes in the international economic system, while slightly fewer (67%) feel that major changes are also necessary in the German economy.
  • Fewer than three in ten (29%) say that the downturn in the global economy has had a significant negative effect on them or their families, while nearly two-thirds (66%) do not believe that it has negatively affected them.
  • Of those who feel negatively affected by the economic crisis, 61 per cent say it will take two years or longer (28% three or more years) for their situation to improve, while 17 per cent say it will improve in a year or less.
  • Seventeen per cent say the shortage of available financial credit for mortgages and other loans has had significant negative effects on them or their families, while nearly eight in ten (79%, up from 71% in mid-2008) do not feel negatively affected.
  • A majority (58%) in Germany say they have been negatively affected by rising food prices, although this has fallen from 69 per cent in mid-2008.

 

Italy

Italians share the global view that major changes are needed in the international economic system due to the current economic crisis, as well as the view that changes are also needed in their own country’s economy. Those Italians who have been negatively affected by recent economic developments are somewhat less confident than those in most other countries that their situation will improve in the near future, with most saying it will take two years or longer.

  • More than eight in ten (81%) Italians agree that major changes in the international economic system are necessary, while nearly as many (79%) say that major changes are also needed for their country’s economy.
  • Sixty two per cent say that the recent downturn in the global economy has negatively affected them (down from 72% in mid-2008), while thirty six per cent feel they have not been negatively affected (up from 25%).
  • Of those negatively affected, half (50%) believe that their situation will improve after two to three years or more, while 36 per cent say they believe their situation will improve within a year or less.
  • Thirty per cent of Italians say they have been negatively affected by a shortage of available financial credit, while nearly two-thirds (66%) say they have experienced little or no negative effects.
  • Seventy eight per cent say that rising food prices have had a negative effect on them and their families (down from 88% in mid-2008), while 21 per cent say they have not been significantly affected.

 

Portugal

Portugal has the largest majority out of all countries polled that feel the current economic crisis points to the need for major changes in the international economic system, and the second-largest majority that see a need for major changes in their own country’s economy.

  • More than nine in ten Portuguese (92%) agree that the current crisis points to the need for major changes in the international economic system, while nearly the same number (90%) believe there is also a need for major changes in their own country.
  • Fifty nine per cent of Portuguese say that the downturn in the global economy has negatively affected them at least a fair amount, although 39 per cent say they have experienced little or no negative effects.
  • Only one-quarter of respondents (25%) who felt they have been negatively affected by the recent economic developments believe their situation will improve within the next year, while a majority (61%) feel it will take two years or longer.
  • One-third (33%) say that a shortage of available financial credit for loans and mortgages has negatively affected their family at least a fair amount.
  • More than three in four Portuguese (76%) have felt significant negative effects from rising food prices.

 

Russia

Compared to the other publics polled, Russians offer only modest support for the view that the financial crisis indicates the need for major changes in both the international economic system and its own national economy. Relatively few Russians also say they have experienced negative effects from recent economic developments. Rising food prices are an exception to this pattern for Russians, where they are largely in line with the rest of the world in feeling negative effects.

  • Less than half (47%) of Russians believe that the current economic crisis points to the need for major changes in the international economic system (36% say minor changes are necessary), while an equal number (47%) feel major changes are necessary in Russia’s economy as well (41% say minor changes).
  • Thirty one per cent of Russians say that the recent economic developments have had a negative effect on themselves and their families, with 59 per cent (up from 43% in mid-2008) saying they have felt little or no negative effects.
  • Of those Russians who feel they have been negatively affected, 27 per cent believe their situation will improve in a year or less and 39 per cent feel it will take two years or longer.
  • Twenty five per cent of Russians say a shortage of financial credit for loans and mortgages has had a negative effect on their family, while 66 per cent say it has not negatively affected their family (up from 61% in mid-2008).
  • A majority (72%) of respondents feel they have been negatively affected by rising food prices (down from 84% in mid-2008), whereas 27 per cent (up from 15%) feel they have not been negatively affected.

 

Spain

Spaniards are among the publics that most widely agree the current crisis indicates the need for major changes in the international economic system and in their own country’s economy. Among European publics polled, Spain has one of the largest numbers saying that the shortage of financial credit for loans has negatively affected them, although a majority of Spaniards still believe they have not experienced negative effects from this development.  

  • Eighty four per cent of Spaniards agree that major changes are needed in the international economic system in order to address the global economic crisis, while nearly the same number (82%) say major changes are also necessary in Spain’s economy.
  • Fifty six per cent say that the recent downturn in the global economy has negatively affected them at least a fair amount, while 42 per cent say they have experienced little or no negative effects.
  • Of those who feel negatively affected by the economic developments, a slight majority (51%) believe it will take two years or longer for their situation to improve, while 42 per cent believe that it will take less than a year.
  • Thirty five per cent of Spaniards say they have experienced at least a fair amount of negative effects due to the shortage of financial credit for mortgages and other loans, while a majority (64%) do not think that they have been negatively affected.
  • More than three in four (77%) see rising food prices as having a negative effect on their families.

 

United Kingdom

Britons widely agree with the global consensus that the current economic crisis points to the need for major changes in the international economic system and a similar percentage of Britons support major changes in their country’s economy to address the crisis. Although a majority say they have been negatively affected by the global economic downturn and rising food prices, the United Kingdom is one of two countries with the largest majority saying that the shortage of financial credit has not negatively affected them or their families.

  • Nearly equal majorities of Britons believe that major changes are necessary due to the current economic crisis, in both the international economic system (76%) and their own country’s economy (73%).
  • Fifty five per cent of Britons say that the recent economic developments have only affected them a little or not at all, while 44 per cent say they have had a negative impact.
  • A slight majority (52%) of Britons who have been negatively affected believe it will take two years or longer for their situation to improve, while 37 per cent are more optimistic and believe it will take a year or less.
  • Less than one-fifth (19%) in the United Kingdom report that the shortage of available financial credit has negatively affected their families.
  • A majority of Britons (57%) see rising food prices as negatively affecting their families (down from 67% in mid-2008), while 42 per cent do not feel the rising costs have had any significant negative effects (down from 33%).



THE MIDDLE EAST

Egypt

Egyptians broadly agree with most other countries polled that the current economic crisis indicates major changes are needed in the international economic system, and they are among the publics that widely agree major changes should occur in their own economy as well. Egyptians have the largest majority saying they have been negatively affected by rising food prices and the shortage of financial credit for mortgages and loans out of all publics polled.

  • Seventy three per cent of Egyptians believe the current economic crisis suggests major changes are necessary in the international economic system, while 68 per cent believe major changes are also necessary in Egypt’s economy as well.
  • A very large majority of Egyptians (86%) feel that they have been negatively affected by the global economic downturn at least a fair amount.
  • Thirty eight per cent of Egyptians who say they have been negatively affected by economic developments believe that it will take two years or more for their situation to improve, while 37 per cent believe it will take a year or less.
  • Seven in ten (70%) Egyptians agree they have felt negative effects from the shortage of available financial credit for mortgages and other loans, up from 57 per cent that held this opinion in mid-2008.
  • Egyptians near-unanimously (99%) agree that they have been negatively affected by rising food costs, although the number saying they have felt “a great deal” of negative effects has fallen slightly from mid-2008 (85%, down from 94%).

 

Turkey 

Large majorities of Turks agree with the global consensus that the current economic crisis indicates the international economic system needs major changes and also that their own country’s economy is in need of such changes. Turkey has seen the most significant improvement in those saying that the shortage of financial credit for mortgages and other loans has negatively affected them or their families, although a growing number report that they have been negatively affected by rising food costs.

  • Two-thirds (67%) in Turkey think that major changes to the international economic system are necessary in response to the current economic crisis and slightly more (69%) believe that similar changes are necessary for Turkey’s own economy.
  • Eight in ten Turks (79%) say that the downturn in the global economy has negatively affected their family.
  • Fewer than one in three (29%) of those who have been negatively affected believe their situation will improve in less than a year, while 52 per cent believe it will take two years or longer.
  • Thirty five per cent of Turkey’s populace report that the shortage of available financial credit for mortgages and other loans has negatively affected their family (down from 57% in mid-2008).
  • A growing majority (87%, up from 81% in mid-2008) say that rising food prices have had a negative effect on their family.



AFRICA

Ghana

Ghanaians widely support the idea that the current economic crisis indicates major changes are needed in the international economic system and they are among the publics that agree major changes should occur in their own economy as well. Although the majority of respondents feel personally affected by the economic downturn, they are among the most optimistic out of all countries polled that their economic situation will improve in the immediate future.

  • Seventy two per cent in Ghana say the current economic crisis shows the need for major changes in the international economic system and almost the same number (71%) say major changes are also needed in Ghana’s economy.
  • Seven in ten (70%) respondents say they have felt significant negative effects from  the global economic downturn, compared to 21 per cent who feel that they have only been affected a little or not at all.
  • Seventy five per cent of Ghanaians who feel negatively affected by these economic developments believe their situation will improve within one year (32% within six months), while twenty per cent believe it will take two or more years.
  • A majority (62%) say they have been negatively affected by the shortage of available financial credit for mortgages and other loans.
  • Eight in ten (80%) in Ghana say that they have been negatively affected by rising food prices.

 

Kenya

Kenyans widely agree with the global consensus that major changes are needed in the international economic system, and they are one of the few countries where an even larger majority see a need for major changes in their own economy. Kenya has the largest majority that feel they have been negatively affected by the downturn in the global economy.  

  • Eighty four per cent of Kenyans think that the current economic crisis indicates a need for major changes in the international economic system, while even more (87%) think that major changes are also necessary in Kenya’s economy.
  • More than nine in ten (92%) say that the recent downturn in the global economy has affected their family at least a fair amount, roughly the same number as in mid-2008 (88%).
  • Of those saying they have been negatively affected, less than one in four (23%) believe their situation will improve in a year or less, while a majority (61%) believe it will take two years or longer.
  • Although a majority of Kenyans (67%) say they have been negatively affected by the shortage of available financial credit for mortgages and other loans (down from 81% in mid-2008), those saying they have experienced few or no negative effects has grown to 28 per cent (up from 18%).
  • Almost all Kenyans (98%) feel their families have been negatively affected by rising food prices.

 

Nigeria

Nigeria expresses modest agreement with the global consensus that the current economic crisis points to the need for major changes in the international economic system; however, their demand for changes on the national level is similar to most other publics polled. A large majority of Nigerians have felt negatively affected by recent economic developments, but they are among the most optimistic that their situation will improve in the near future compared to other countries polled.

  • Fifty five per cent of Nigerians believe that the current economic crisis points to the need for major changes to international economic system (28% say minor changes are necessary), while an even greater two-thirds (66%) believe that major changes to the country’s own economy are necessary (22% say minor changes).
  • Nearly three in four (73%) say they have been negatively affected by the downturn in the global economy (down from 88% in mid-2008), while a small but growing number (16%, up from 11%) feel they have experienced few or no negative effects.
  • Of those who say they have been negatively affected, 72 per cent believe that their economic situation will improve within the next year (33% within six months), while only 17 per cent believe it will take two years or longer.
  • Two-thirds of Nigerians (67%, down from 79% mid-2008) say the shortage of available financial credit for mortgages and other loans has had a negative effect on their families.
  • A very large majority of Nigerians (84%, down from 95% in mid-2008) say they have been negatively affected by rising food prices.



ASIA-PACIFIC

Australia

Australians broadly agree with the global consensus that major changes are needed in the international economic system, however, they less widely demand major changes within their own economy than most other countries polled. Australians also perceive less negative effects on their own families from the shortage of financial credit and the downturn in the global economy than publics in most other countries polled, although they feel just as negatively affected by rising food prices.

  • More than three in four Australians (76%) agree that the current economic crisis points to the need for major changes in the international economic system, while slightly less than half (48%) agree that major changes are also needed for their own economy.
  • A majority of Australians (55%) say that the recent downturn in the global economy has affected them a little or not at all, while 44 per cent say that it has had a negative effect on their family.
  • Slightly more than half (51%) believe their economic situation will improve within the next year, while 41 per cent believe it will take two years or longer.
  • Twenty two per cent of Australians say a shortage of available financial credit for loans and mortgages has had a negative effect on their family, while a growing number (76%, up from 69% in mid-2008) feel that this has not negatively affected them.
  • Fifty five per cent see rising food prices having a negative effect on their family (down from 63% in mid-2008).

 

China 

The Chinese agree with the global consensus that the economic crisis points to the need for major changes in the international economic system, as well as in their own economy. Although relatively fewer people in China say they have experienced negative effects from recent economic developments in comparison to other countries polled, growing numbers say they have been negatively affected compared to mid-2008. The Chinese who have been negatively affected, are also among the most optimistic that their situation will improve in the immediate future.

  • Seventy five per cent in China say that the current economic crisis indicates the need for major changes in the international economic system, while 59 per cent say that such major changes are needed in their own economy (35% say minor changes).
  • Forty four per cent in China say they have been negatively affected by the downturn in the global economy (up from 22% in mid-2008), while 56 per cent feel they have experienced few or no negative effects (down from 73%).
  • Of those who say they have felt negative effects from recent economic developments, 82 per cent are optimistic their situation will improve within a year (50% within six months), while just fifteen per cent believe it will take two years or longer.
  • Twenty seven per cent in China feel they or their family have been negatively affected by the shortage of financial credit for mortgages and other loans (up from 20% in mid-2008), while 70 per cent say they have not (down from 76%).
  • A slight majority (51%, up from 44% in 2008) say they have experienced negative effects from rising food prices, while 48 per cent say they have not been significantly affected (down from 56%).

 

India 

A plurality of Indians agree on the need for major changes in the international economic system. Indians also show modest support for major changes in their own economy. Indians who believe that they have been negatively affected by the recent economic developments are somewhat confident that their situation will improve in the near future, with half saying that it will take a year or less.

  • Four in ten (40%) Indians agree that major changes in the international economic system are necessary, while thirty three percent say that only minor changes are necessary. They are divided on whether the current economic crisis points to the need for major (39%) or minor (36%) changes in their own economy.
  • Nearly two-thirds (66%) say that the recent economic developments have negatively affected them (up from 60% in mid-2008), while 27 per cent feel that they have not been negatively affected.
  • Of those negatively affected, half (50%) believe that their situation will improve within a year or less, while 28 per cent believe that their situation will improve only in two years or more.
  • A majority of Indians (56%) say they have been negatively affected by a shortage of available financial credit, while thirty six per cent (up from 25% in mid-2008) say that they have experienced little or no effects.
  • Two-thirds (67%) say that rising food prices have had a negative effect on them and their families, while 27 per cent say they have not been negatively affected.

 

Indonesia

Indonesians widely believe that major changes are necessary in the international economic system, yet they are one of only a few countries with an even larger majority believing that the current crisis indicates the need for major changes in their own economy. Indonesians who say they have been negatively affected by the economic developments are the most optimistic out of those in any country polled that their situation will improve in the immediate future.

  • Sixty two per cent in Indonesia say that the current economic crisis points to the need for major changes in the international economic system, while 73 per cent say that major changes are also necessary in their own country’s economy.
  • Nearly eight in ten (78%) say that the recent downturn in the global economy has had a negative effect on them and their families.
  • Those saying that they have been negatively affected are optimistic that their situations will improve in the near future – 83 per cent say their conditions will improve within a year or less (60% in the next six months), while only twelve per cent say their conditions will take two or more years to improve.
  • A majority (55%) say that they have been negatively affected by the availability of financial credit for mortgages and other loans.
  • An overwhelming majority (92%) say that rising food prices have had a negative effect on them or their families.

 

Japan 

The Japanese are the only public divided on whether the current economic crisis shows a need for major changes or minor changes in the international economic system and they are the only public out of all countries polled that has a majority saying only minor changes are needed in their own economy. Those who have been negatively affected by the global economic downturn are also the most pessimistic that their situation will improve in the near future, with most saying it will take two years or longer.

  • The Japanese are divided on whether the current economic crisis points to the need for major (45%) or minor changes (45%)  in the international economic system, while a slight majority (51%) think only minor changes are necessary in the Japanese economy (39% say major changes are needed).
  • Sixty five per cent in Japan say they have experienced at least a fair amount of negative effects from the downturn in the global economy, while 34 per cent say they have been negatively affected a little or not at all.
  • Those saying they have been negatively affected in Japan are largely pessimistic that their situation will improve in the near future – 69 per cent say their condition will only improve in two years or more, while just 9 per cent say conditions will improve within a year.
  • Three in four (75%) Japanese say that they have been negatively affected at least a fair amount by rising food prices.

 

The Philippines 

The Philippines has the second largest majority that agrees that major changes to the international economic system are needed as a result of the worldwide financial crisis and they have the largest majority that say the crisis indicates the need for major changes in the Filipino economy. While a relatively large number of Filipinos, relative to other countries, say they have been affected by recent economic developments, a large majority of these remain optimistic that their situation will improve in near future.

  • A large majority of Filipinos (88%) say that major changes to the international economic system are necessary in order to address the current economic crisis, while 92 per cent believe that changes must also be made to their own country’s economy.
  • Nearly nine in ten Filipinos (89%) feel they have been negatively impacted by the downturn in the global economy.
  • Of the majority who feel they have been negatively affected by recent economic developments, 68 per cent are optimistic that their situation will improve within a year, while 24 per cent expect the situation to take two years or longer to improve.
  • A majority (69%) say that the shortage of available financial credit for mortgages and loans has had a negative effect on their family.
  • Filipinos near-unanimously (95%) believe that rising food prices have negatively affected them.






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