With the news and developments happening in India at the moment, that this country is hell-bent on taking the biggest portion of foreign firms leaving China amid this pandemic situation, and in consideration that the US is very serious about resolving the supply chain of the world, is a highly significant occurrence that our government should put attention to and make strategies and solutions to our current economic state plagued by low foreign investments.
Instead of adding more, the country is losing more. The closures of Japanese car plants and other big tech giants exiting our country sends a bad signal for American firms to put this country in their radar.
Practically, there is no trade and economic policies that our government is doing facing this chance of having the bulk of American firms invest in the country in the hope of making it as the hub of FDIs as a long term economic plan beside this pandemic is not shared positively for us.
While India is doing its homework, the Philippines is very unable caused by the previous statements made by the President and his animosity with the US caused by its human rights records that created this gap. He personally and openly declared his separation from the US from his previous state visit to China and for the lack of regard on defending the economy against the onslaught of imbalanced trade particularly with China and its onerous loans incurred, that it is very difficult now for the Philippines to return unless a change of government policy is taken as soon immediately.
It becomes difficult for the Philippines to benefit from the exodus of American firms now about to flood India because of the circumstances given.
Our declining economy amid the pandemic is a matter of concern, that with the size of our trade, we are already in the brink of losing our balance, that something must be done to spur the business sector and liberalize its environment for the gneral welfare.
THE ARTICLE that India prepare red carpet for foreign firms leaving China
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