Bailing Out the Philippine Economy

[jpdm]

When the country abandoned its nationalist/protectionist economic development model in the late 1960s, the Philippines, which was the envy of many countries in Asia (we are second to Japan in economic and industrial development before late 60s)....was reduced as the sick man of Asia (very recent studies in international journals)

As it is now, no matter how the Arroyo government is trying to convince the Pinoys that the economy is in good shape, our economy is in recession and still mired in worsening poverty.

Very few people are experiencing "the fruits of economic growth" (if there is any)

The following are the excerpts of the column sent by Allan Duane Mendoza—of the Fair Trade Alliance—outlining the resolution that his organization adopted to bail out the Philippine Economy.

The economic model is very simple yet I think very effective in making our economy alot better.

We also demand that the government immediately put a halt to the senseless automatic appropriation of two-thirds of the national budget for debt servicing.



We should instead adopt the Argentinian budgeting system, which makes allocation for debt servicing only after urgent adequate allocations have been made for urgent and priority social spending.





Like other countries, the Philippines needs a large stimulus package directed at the domestic market to preserve and create millions of jobs.



The government should be able to spend as much as it can on productivity-raising infrastructures such as school buildings, renewable energy, communal irrigation projects, farm-to-market roads, harvest silos, barangay health clinics, public transport systems and so on.


Finally, we call on all Filipinos to join us in the movement to cast aside the bankrupt neo-liberal economic model of governance and promote instead our [SIZE=4]vision of Nationalist Development[/SIZE].based on our five-point agenda composed of the following:


-a coherent, balanced and pro-Filipino trade-development economic governance structure;



-a program of re-calibrating our agro-industrial fences to give our industry and agriculture a breathing space for survival and growth;



-enhancing our national productive capacity through the all-out mobilization of domestic resources in support of industry, agriculture and entrepreneurship;



-unleash our people’s productivity capacity through a rounded program of human resources development and completion of asset reforms;



-and, finally, a program for the[SIZE=4] inculcation of the culture of industrialism, excellence and economic nationalism.
[/SIZE]


A Better World Is Possible! A Better Philippines Is Attainable!
bizzfizz_98*yahoo.com

From Manila Times
January 2, 2009
Rene Martel

What do you think?

[uls]

Nothing wrong with daydreaming

[ghosthunter]

Short of replacing the entire corrupt political population with people from Japan or Singapore (or similar non-corrupt nation), any bail out plans for the Philippine economy will not work.

[CVT]

Short of replacing the entire corrupt political population with people from Japan or Singapore (or similar non-corrupt nation), any bail out plans for the Philippine economy will not work.

Okay,- let's start with the cleansing process....

7202:bruce_lee:

[Monseratto]

The term "bailout" is not correctly used here. Economic stimulus is the correct one. And the Philippines is not yet in a recession... Argentina's economy unfortunately is a model in corruption too.

[jpdm]

Nothing wrong with daydreaming

Actually, its doable.

If the government is willing to buy out MRT 1 from Sobrepena et al for US$ 800 million why cant the Arroyo govet just use that US$ 800 million (around 32 billion pesos) as economic stimulus package as what the author from the Free Trade Alliance had metioned.

With the US government going into a socialist mode using billions of dollars rescuing American corporations..why not our country implementing Keynesian pump priming projects i.e. build economic and social infrastructures e.g. farm to market roads, irrigation and other agricultural support services;

production and procurement of local agricultural produce especially rice, corn and vegetables;

Build more power plants using renewable energy to help bring down electricity cosy in the philippines...

Fine tune investment policies, regulations and processes..

Ate glue and her cabals have been spending alot of money on white elephants and junkets and yet cannot spend on worthwhile projects?

[creepy]

Actually, its doable.

If the government is willing to buy out MRT 1 from Sobrepena et al for US$ 800 million why cant the Arroyo govet just use that US$ 800 million (around 32 billion pesos) as economic stimulus package as what the author from the Free Trade Alliance had metioned.

With the US government going into a socialist mode using billions of dollars rescuing American corporations..why not our country implementing Keynesian pump priming projects i.e. build economic and social infrastructures e.g. farm to market roads, irrigation and other agricultural support services;

production and procurement of local agricultural produce especially rice, corn and vegetables;

Build more power plants using renewable energy to help bring down electricity cosy in the philippines...

Fine tune investment policies, regulations and processes..

Ate glue and her cabals have been spending alot of money on white elephants and junkets and yet cannot spend on worthwhile projects?

Sigh. Another brilliant post.

[uls]

If the government is willing to buy out MRT 1 from Sobrepena et al for US$ 800 million why cant the Arroyo govet just use that US$ 800 million (around 32 billion pesos) as economic stimulus package as what the author from the Free Trade Alliance had metioned.

pa-provide naman po ng link re MRT buyout

[jpdm]

pa-provide naman po ng link re MRT buyout

Almost a done deal. But DOTC back out.

[uls]

Almost a done deal. But DOTC back out.

link pls

i doubt the $800M figure

[ghosthunter]

Actually, its doable.

Maybe you have been sleeping under arock for too long. The current entire political system is corrupted from the top all the way down. That US$800M will surely just go to the pockets of every politican & government official is passes through and leaving only less than 10% at the end for anything useful.

[jpdm]

Maybe you have been sleeping under arock for too long. The current entire political system is corrupted from the top all the way down. That US$800M will surely just go to the pockets of every politican & government official is passes through and leaving only less than 10% at the end for anything useful

Hmmm...sleeping under the rock.

anyway,

I just said its doable. Im not saying it can be implemented immediately.If we can pay 500 billion pesos on debt service, why not for infrastructure program.


And the government can program 1.3 trillion for our annual national budget.

Cant we not allot a measly 32 billion for an economic stimulus package?

[ghosthunter]

Hmmm...sleeping under the rock.

anyway,

I just said its doable. Im not saying it can be implemented immediately.If we can pay 500 billion pesos on debt service, why not for infrastructure program.


And the government can program 1.3 trillion for our annual national budget.

Cant we not allot a measly 32 billion for an economic stimulus package?

Doable in whose universe? ... the philippines is not going to the dogs... its already gone to the dogs. The only thing that can happen to save us from ourselves is a Fidel Castro style revolution.

[uls]

the govt allots a large amount of the national budget for debt payment coz that is what the creditors demanded.

a borrower is beholden to the lender

if the govt doesnt to pay as expected, the Phils' sovereign rating will be downgraded

that will make it more expensive for the Phils. to borrow (much higher interest)

the Phils govt is very reliant on foreign loans

kaya it's best the Phils. make creditors happy