INDUSTRIALIZATION

The recent development that imports had overtaken exports is a bad sign for the economy for the country, as this means that our ability to earn dollars is offseted by our spendings which is the importations.

This would also mean that our industries that produces products is lower than the products we need domestically, and we required to get them offshore in order for us to have them and use it for ourselves simply means low level industries in the country is causing the problem in the balance of the two factors of our economy. 

While even the existence of our OFWs that remit dollars from abroad, the situation has become dismal in the sense that we have  overshot our spendings depleting our dollar reserves by the rise or our importations. Practically, this is not a good sign.

Even with the aid of the BPOs  that contribute dollar inflow into the country, still, our control of spending them has become rampantly high. There must be an intervention to our capacities , attitudes, policies that should make this country back to its strongest in the times that we were the second largest economy in Asia where now, we find ourselves observed to be in fourth world condition.

The government itself should intervene in the economic policies in order to curb the scenario that if not controlled fairly, we will follow th footsteps of Sri Lanka and Venezuela.

There are many things as steps to be taken to avert the situation if economic policies will be given due attention immediately.

EXPORTS, MANUFACTURING

These two components are interrelated  together, as there is no product to sell without manufacturing because exports is about selling which we call trade. We must extend our industrial capabilities in every corners of the country, make every single little products that we can, that without it, there is no reality of exploding our export, manufacturing is the base of all. We have been very weak in the machinery and steel industries that support first of all, Car manufacturing.

Car Manufacturing is the pivotal point of industrialization that without this industry, there is no genuine industrialization. The enormous contribution of this single industry will result to millions of micro industries and enterprises that will absorb all the unemployment of this country.