OUR OWN TRADE WAR

We have our own trade war.

Trade deficit is an economic war, and the situation of the Philippines against China is an economic war so to speak, because unless we resolve the inflated trade gaps with China, our foreign reserves will be wiped out in due time.

Our trade deficit is the cause of the fall of the Peso against the dollar, and the situation must be solved by our  economic managers.

China is the main source of the fall of peso to the US dollar due to we have almost 9 billion USD deficit with them. It is the country that is causing our inflation problem.

A new policy must be introduced by the government.  It is about shifting our attention and energies to multiply our GDP, and to do it is to multiply our factories or the manufacturing sector.

We must decrease regulations, and introduce tax cuts instead of employing the TRAIN law for revenue purposes.

President Trump introduced tax cuts and remove regulations for commerce and trades and made tremendous results that had economic growth rate for them today. It is proof then that raising taxes is not a good idea for revenue measures of a government, the matter is proven by Trump.

Every increment increase of the US dollar reflects to millions of dollars for our maturing loan obligations. That slight movement of exchange rate kills our economy.

We should shift our attention to manufacturing as the lead sector of the government's policies to solve inflation, trade deficits and revenue management. and not the other way around of  direct revenue from taxes. Manufacturing will boost exports that will reduce deficits and improve the Peso.

Revenue solutions should circle into GDP and not direct collections like the TRAIN law.