In addition to the human tragedy, the disaster in the Philippines will have a wider impact on the government and the way investors assess risk in emerging markets, says Michael Every of Rabobank.
"Well near-term, I think we have to remember that this tragedy didn't really occur in an area of great economic importance. And that's one of the reasons why the market has reacted so passively to it. But you're absolutely right, if storms of this magnitude are going to reoccur in the Philippines regularly, and hit more high-impact economic areas - for example, Manila - then necessarily that's going to be much more negative for the Philippines going forward," Every said.
This report from Reuters. ANC News Now, November 15, 2013