Well, because we do our homework; together, we have built up domestic buffers that should continue to help us withstand headwinds which are mainly external in origin. Let me cite some of these buffers and how exactly these have insulated the economy from external risks. First, we have fortified our domestic financial system.
In terms of resources, for instance, the Philippine banking system’s asset base has grown steadily from P3.4 trillion in 2001 to P5.1 trillion as of the first quarter of 2008 on the back of sustained increases in deposits and capitalization. This is equivalent to a 50% increase.