over in the philippines, president ferdinand marcos over in the philippines, president ferdinand marcoer president ferdinand marcos jrent ferdinand marcoer is set to deliver his state of union address later today, and the economy is expected to be a hot button issue, as especially as manila continues to rely heavily on remittances. earlier i spoke tojesus philippe, who specialises in developing economies in the region, who explained why the country needs to restructure its economy to take advantage of young workforce. it take advantage of young workforce.— take advantage of young workforce. , ., ., , workforce. it is a development model, there _ workforce. it is a development model, there are _ workforce. it is a development model, there are many - workforce. it is a development i model, there are many countries including ourselves in the university, the reality is that the country comes behind, with respect its regional neighbours. they missed completely the boom of the 19805 completely the boom of the 1980s and mid—1990s that was manufacturer driven. as i mentioned, the marcos administration passed a very ambitious

now, over in the philippines, president ferdinand marcos jr is set to deliver his state of the nation today. and this will be his second such address. and the economy is expected to be a hot button issue as global headwinds intensify. and especially as manila relies on remittances. earlier, i spoke tojesus felipe, who specialises in developing economies in the region, and he explained at the country needs to take advantage of a young workforce. because i think that what the president is going to try to do today in his second sona address is to really get credit for the implementation of his comprehensive development plan that was announced last year. the reality is that the country during this year has been doing relatively well. that was manufacturing driven. that was manufacturing driven. that was manufacturing driven. that was mentioned that the marcos administration has an ambitious plan that puts the economic and social transformation of the country at the centre of this agenda. key to this is achieving a growth at 6.5 —— 8%, that is the forecast on the key to sustain it is going

seeks to counter china, president ferdinand marcos jr. real-life hollywood drama. the nation's entertainment industry is bet set with labor woes. tracy smith now on the issues and the impact. >> reporter: it's a show-stopper all right. both the writers guild of america and the screen actors guild are on strike and hollywood is effectively shut down. the last time this happened was in 1960 when ryan reynolds was president of the actors union, the apartment was best picture and the actors were holding out for more money in the form of residuals for movies shown on tv. 63 years later, with the industry facing severe economic headwinds, rising costs and shrinking movie attend he has, the unions are again pushing for better pay. but this time with streaming and other platforms disrupting the industry, they are also looking for some guarantees that new technologies like artificial intelligence or a.i. won't ruin their careers. for the record, some cbs news staff are sag-aftra members but work under a different contract than the actors and are n

now a look at what is going on with politics in the philippines where president ferdinand marcos, jr.cond state of the union address. he had a performance report presented to the public and later his priorities for the coming months. our bloomberg reporter is in manila. what can we expect out of this and why should we be paying attention to it? >> marcos himself had said the philippines has made significant progress in his first year in two things, how the government works and how the philippines is perceived around the world. so we expect him to elaborate on that. in his first speech last year, he sent out some goals for the economy. this year, it is to grow the economy by 6% or 7%, so we expect him to say how we are faring so far and how he plans to grow the economy further for the year given the inflation luck and also the global outlook. haslinda: we know that monetary pension reform is a priority legislation. talk to us more about that. andreo: marcos and his cabinet officials have been stressing that the urgency of doing this now, so his finance secretary said that if we do not

ferdinand marcos, jr.nce a performance report and lay down his priorities for the coming months. let's bring in our correspondent. what are the key challenges the president now faces going into his next year? >> i should mention president marcos is expected to deliver his second speech to congress today at 4:00 p.m. inflation is top of mind for the government and people in general. it is still way above the central bank's goal, so investors and analysts are watching for steps by which the government will address this, probably more exports. [indiscernible] haidi: what other legislative priorities are we expecting? >> president marcos and his cabinet have been emphasizing the need to reform military pension for the past months. he has been worried of a fiscal collapse if this issue would not be addressed, so the government has been fully funding soldier'' pensions for the last few years, and this has been straining the budget. they are expecting this will be mentioned in the president's statement. there are