The Economy of the Philippines is the 36th largest in the world, according to 2016 estimate of the International Monetary Fund statistics, 13th largest economy in Asia, and the 3rd largest economy in the ASEAN after Indonesia and Thailand.Wikipedia
After just few years after the war, Vietnam is fast becoming one of the largest economy in the world, at 47th.
While the Philipines is the 36th int he world, still the situation is under acceleration that in few years, and made by the current situations and indicators, Vietnam will overtake the Philippines comfortably.
The economy of Vietnam is the 47th-largest economy in the world measured by nominal gross domestic product and 35th-largest in the world measured by purchasing power parity. The country is a member of APEC, ASEAN and the WTO.Wikipedia
The Belt Road project of China is solidifying further its strength in trade and economy with a one way trip against other member countries for the reason that the barriers are favorably for them alone and will cost members a loss and all will benefit China.
The snub of India is a means that could pause the initiative as a delayed strategy to rethink the outcomes that might make China an ever growing threat globally in terms of economy and military. The size of India in land and population, growing technology, are factors that makes a good sign to imperil secret agenda of the Belt Road under the auspices of China. None can compete or fiercely it is difficult to win the situation with china in terms of the size of their trade with the world. If any nation can counter this size, it could be a good relief to make the rapid expansion of China made by its trade in conquering markets and nations that may cause as a reason to be interfered or threatened. The perceptions of China today as a bully and threatening others mostly in sovereignty issues are reasons that had caused bad impressions on them and the Belt Road project is put in doubt and in question of interest. The unity of nations in trade and cooperation are dignified objectives specially when not melted with interests and motives among big and giant members who are majority stakeholders in the concept of Belt road. Though the initiative can be taken as one impressive feat in the making, its performance and results shall be expected positively and objectively rather than in the negative view for now. The only snub of India is an indication that china is unworthily trustable agent prior its behavior and character affecting India and other countries under these experiences. There are some good and bad in the snub, and the reality can be caramelized in the future. With regard to the country, our position in the Belt road is threatened for a reason that we are a miniscule economy compared with others. Though we struggle under the schemes and conditions at the moment, our hopes in the Belt is due uncertain, but positively, we look forward to it as a source of our economic gain and opportunity under our means and capacity to perform in the arena. What's needed to be done at the moment is to invigorate the condition of our manufacturing sector, our factories in preparation of this project corridor, because without preparation and capacity, it is a loss and worthless effort if during the competition we get lost and vaporize. The best to do is make investments in the country progressive, infusing heavily in the manufacturing sector for us to get the foothold in the corridor. We have enough technocrats and talents to bring forth our objectives and goals along the road, it will just need a solid backing of the manufacturing sector to penetrate the markets opened up before us in the project. India's "Silk Road" snub highlights gulf with China
This is the magnitude of Vietnamese foreign investment record for the year 2016 which means that this emerging powerhouse may soon become one of the superpower in the region overtaking comfortably many other countries where in decades ago is struggling to survive in their economy. The quantity and magnitude shown by the strides of the Vietnamese economy is gigantic compared with its neighboring countries in the southeast asia, and this would mean they are becoming a powerhouse that in a short future, they can no longer be intimidated by industry giants like China which has big stakes in the South China Sea. The situation regarding the story of Vietnamese is very relevant to our country the Philippines due to its growth is a very big challenge for us and a big reason that would make means to overcome the difficult situation of the country in resolving its ill in employment, investments, cost of living, exports and revenue, and over all the GDP condition. The Philippine government has been trying hard to make its economy improve and make a better life for its people, but in reality, the situation do not grow due to political culture and condition in the country. The people, and mostly its elected public officials do not serve well for the welfare of its people , but in contrary they prioritize their political careers and sponsor corruption in all corners of public service. The attitude of its people and those in positions are the problems of this nation and makes the reason that it can hardly come up with a descent program in the government to resolve the problem of its people for better life. The model structure of Vietnam in receiving foreign investments in this quantity must make in us a challenge and devise remedies to counter the minuscule investments we receive compared with that of Vietnam seen alone for the year 2016.
The amount of 16 USD FDI alone is a huge gap compared with that of the Philippines, as per record we have only gathered that same amount in the whole term of six (6) years of the past administration. To make such data of an envy and a challenge for creating innovation to shorten that gap and make means to lure those foreign investors to entice investment in the country must be a strategy for now. LINK TO THE ARTICLE
In this generation, the youth shall be a kind that is trained to the conditions and demand of the times . Foremost, the new generation shall undergo series of transformations that would make them fit for the requirements of the modern and fast changing environment of modern economies.
One fundamental concern is the condition of our educational institutions that must ferment the youth to growth and talent it needed to face the challenges of their careers. Not only intellectually but morally as pointed our by Mr. Jack Ma.
No matter is the hard times and the odds encountered during those growing years of their careers, his advise is just correct, for the the challenges are strong and competition is real.
The foreign debt of the country is growing and staggering in magnitude, increasingly colossal. The amount and sizes of our debt grows by each presidents elected and this makes the notion that our leaders elected as hope for the country is actually becoming bad for the country.
Each Presidents should find means to invigorate our economy through productivity, meaning, improving and increasing our GDP, not increasing our foreign borrowings. The cost benefit analysis is absent in the current administration on how to combat the repayment of said loans, and how can we absolve our country in foreign debts.
We must focus in our GDP first, solved the areas where we need to address the lacking of our country and heal them where it needs attention particularly the weak manufacturing sector of this country is a priority matter.
Let us give energy to our local investors, make an atmosphere conducive to business and manufacturing by giving them relax of regulations as a means to improving our GDP needed. To gather loans abroad without cost benefit analysis, our system will just sink further and make loss of our economy in the end.
The big factories in china are all foreign investments. Like for example Foxxcon is a Taiwanese based company who have invested well in China taking advantage their cheap labor available in that country. The subject of cheap labor is the object of investors in China and this is the factor that makes China way ahead of us in garnering the needed investments in the country.
The situation in the Philippines is very different due to the labor cost is very high, and the political condition makes the factor in investing here, that's why something must be done outright for this matter of luring capitals for the country.
Because labor is the factor between China and the Philippines, we need to do something. There must be some new approach to the problem on labor which makes that as the game changer for China versus the Philippines. I think it is time to create different levels of labor in the country, something that will provide an equalizer for China to face labor cost squarely. The different levels of labor would mean matching the labor levels of china in other regions of the country for example in the regions of Mindanao where labor is a shortage and unemployment is high. we can regard in these regions cheaper labor for the sake that it will momentarily resolve unemployment and raise the livelihood opportunities of the populace and at the same time resolve insurgency in the region where rebels are the product of poverty. To make them employed in these regions will somewhat solve the uneasiness of people and make calm and peace. This can be an interim project for labor resolution in the region for let's say in 25 years. We do not have anything to do but to make ways of a little shortcuts and bridges for poverty eradication through inducing factories and manufacturing in the country like that in Mindanao.
The different levels we are speaking here are to make a grade of minimum wage in those regions which is lower than in any other regions in the country. The level of minimum wages can be to a degree where it is competitive with that of China, and attractive lower enough that companies can come here and invest.
Solving unemployment, income generation through investments, technology transfers, and modernizing our economy through various fields and sectors of industries that might be possibly be attainable at this kind of program. through it, the government will then take the chance and opportunity to have joint venture agreements that later on will be a mode of acquiring a technology of our own gained from infusion of these foreign technologies in these companies, which is possible.
The example of Foxconn is one aspect to lure them here if possible. what should we do to make foxconn come to the Philippines?
Child labor in the country is prevalent due to the situations of unemployment is staggering that even children are forced to labor to complement income for their families. This si a situation where none would ever dare to have in their lives, to be working at tender age and suffer poverty in their lifetime.
The situation must be addressed by the government through infrastructures that will pave the way to surplus jobs in the country. The solution is just of simple idea, but neglect and omission on the side of our leaders to put emphasis and funds to it is rampant because they are pre-occupied of corruption.
The infrastructure needed are roads, bridges, electricity and other logistical infrastructures that will open to multi-opportunity of industries all around the country. The government must be in a program of infrastructure first before it can launch massive and greater employment overfilling of surplus.
Actually, the video is about child labor in the country and the situation is just the product of very low job opportunities for parents that made children find other means to support their families. Child labor exist because they were made cheap by their counterpart employers, because these capitalists themselves are hungry profits that take advantage on cheap labor made available by children.
One solution to end Child labor in the country is to outlaw child employment and further institutionalize mandatory education for children penalizing parents for it. On the other hand, commend parents with incentives who are able to rear their children for education and moral characters and behavior.
Another aspect of government programs is to industrialize the country and promote technology among people. We shall turn around the cultural practices of the population into constructive and productive habits that will contribute further the development of the county for economy.
The situation of housing in Hong kong is probably our next step to resolve our own housing problems in the Philippines. Though we do not want to copy the miseries of housing problems in that colony island, If compared with our situation as to have no choice in battling the homeless conditions of our countrymen. While we see that the living conditions don't match for standard human needs and conditions, there left no other choice to make housing a quick solution for today.
The cramped spaces is partly a solution for the moment, while we find to construct new and standard spaces and buildings for the poor, the resources which dictates the quality and requirement needed shall be disregarded for awhile just to save the squalid conditions of people and families living directly in soils.
Resources is one factor that would determine the quality of new housing projects of the government particularly in the cities, where people flock for employment and better income opportunities for their families. Because of the lack of funds from our national budgets, there we can adopt for the moment these schemes of housing systems to speedily remove our brothers in the streets and in places where it causes them risk and hostile for their security.
The video shown in here is just a a portion of our solution to the problem, as proposed to resolved living conditions and available space in our cities. We can partially adopt this situation as made in Hong Kong but the real and far reaching solution to our housing problem will still be beyond this piece of suggestion and writing.
If we are serious enough to solve squatting problems int he capital region, the Hong Kong style homes and accommodations of families in the slum areas can be addressed in this system acquiring both space and resources as viable.
what is needed is immediate and fast. The government can eradicate people in hostile environments by taking into consideration cramped living for awhile, but with a dynamic and continuing solution to solve housing situations progressively.
