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The Philippines is an emerging market and a developing and newly industrialized country, whose economy is transitioning from being agricultural to service- and manufacturing-centered. It has a variety of natural resources and a globally-significant level of biodiversity. The country is also part of multiple international organizations and forums, mainly in ASEAN. Despite its fast economic growth, it continues to struggle with inequality, widespread corruption, and vulnerability to natural disasters due to its location within the Pacific Ring of Fire, and to the equator, making it prone to earthquakes, monsoon rains, and typhoons, to which the Philippines has built a resilience. (Wikipedia)