   The Philippine economy grew by 7.8% in the first three months
of 2013, surpassing every single analyst estimate and putting it
just above China as one of Asia’s fastest growing economies. The
torrid growth, the best in nearly three years, is especially
impressive given that exports declined 6.2% as electronics
shipments collapsed.  So how is it growing so fast?  1)
Infrastructure   2) Domestic Demand  If foreigners aren’t going
to buy your goods, you better hope the locals are. Domestic
demand in the Philippines has been very strong, driven by
private investment and consumer growth in a way that China must
envy. Manufacturing growth is up by 9.7% due to demand for food,
appliances, communication and transport, and construction was up
a whopping 32.5% in the first three months of the year. Services
expanded 7%.  “Initially, this was led by infrastructure
spending from the government,” the National Economic and
Development chief Artemio Balisacan told the Philippine Star.
“By the second half of 2012, private