INVESTMENT DEALS WITH CHINA

There are risks in everything specially with the current investment deals with China that could end up in troublesome specially when undertaken by  a small country like in the Asean, or the Philippines for example,  that eventually becomes a victim when projects turned up to be  in failure, what comes to be  expected the end of what seems to be a miracle solution to the economic problem of this country may result the otherwise.

When investments turned into equity, like in the experiences of other countries is one sign that we should be careful about. There's a similar case in the US  that china wanted to turn their unpaid accounts by their counterparts to gain equity or ownership of lands as a settlement.

For the Philippines, the fear s justifiable because our economy is incapable to be responsible enough when the inevitable happens. It will mean disaster when the behavior of China is unchanged and dominant every time.

At first, we may be treated fairly in the beginning, but in the long run we may become subservient when debts run high and becomes difficult for us to pay in debts in return.

China is a new frontier for us, and we need to be careful and get excited that everything must be studied and done under good calculation. We should not open wide and accept everything when tempted by their offers, we should be slow and careful.

SELF-RELIANCE

The only way to overcome foreign aggression isur i to become self reliant. We should enrich our industries to become non dependent of China because we import everything from them.

We need to reduce our imports from China or anywhere else in the world. But reducing importations means increasing our domestic industries that will replace these importations, that is produce products locally that we import. It means localized everything, in order to avoid buying them from abroad or overseas. To accept this proposition,

To accept this idea, now is the time to create big industries in the country, starting from car manufacturing, spread into everything that we need locally, and eventually create more and  gain surpluses for exports and earn dollars.

Self-reliance is what we need at the moment. Everything must be under our own control and avoid foreign power and domination in this country.

There are so many fields of industries that we need to put up in the country. For example, the trains and coaches that we need for the LRT should  be locally produced for dependability of supply and maintenance of parts. Expertise will also be developed and benefited from it, and of course employment is a factor, and spur of industries will be the eventual gains of the country. Self- reliance is the core of our goals.

There are plenty others of industries needed to be pursued for development and its contributions to the economy will be very significant. The more we create more industries the bigger will be the revenues for the country. With that, we don't to increase VAT taxes but rather will cause it to be reduced with bigger and wider tax base.





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