A Remittance Dependent Pinoy Economy

**jpdm** · November 21st, 2008 04:18 PM

Originally Posted by Gen. Miting

hanggang hindi siguro sila ma-layoff if their respective companies dont downsize during the global crisis.

pero i doubt if they will be laid off. karamihan sa kanila nasa middle east where the bulk of the American money is right now.

ang kinakabahan ako ay yun mga nasa Singapore and HK. nowadays, investors seem to be disregarding the status of nation kung may good business policies or corrupt policies. usually, HK and Singapore are priorities kasi nga good business environment dun. but of course, it comes with a price, mahal ang labor dun.

sa investors who want to maximize all profits in these cash-strapped times, the Philippines, India and other 3rd world developing can be apples of their eyes.

kaya nga hindi ako agree kay *uls na our present populist policies will drive investors away. kung noon good times puwede pa pero ngaun, i think otherwise ...

kung ikaw meron ka gustong-gusto makuha corner lot mall space na sigurado kikita ka ng pera kasi lakaran ng tao yun, who will you pray for na ma-meet mo sana?

a lessor who will enforce the zoning policies by the book or a lessor who has a price to get you in that lucrative mall spot

Recession in Singapore and Hongkong...both dependent on a service-oriented (although with a well established manufacturing base) economy...

Delikado talaga mga OFWs dun...pati remittances nila...

**jpdm** · January 1st, 2009 02:20 PM

Remittances keep on pouring in last year (2008).

Will this continue this year(2009)?

**jpdm** · January 3rd, 2009 10:20 AM

Originally Posted by jpdm

Remittances keep on pouring in last year (2008).

[SIZE=3]Philippine Star[/SIZE]
OFW remittances seen to hit $17B
By Des Ferriols
Updated January 03, 2009 12:00 AM

The Bangko Sentral ng Pilipinas (BSP) said remittances from overseas Filipino workers (OFWs) would reach a record $17 billion in 2008.The BSP said the actual level is projected at $16.9 billion at the end of 2008, including both remittances that go through banks and other remittance channels.The BSP said remittances that go through banks are projected to reach $16.3 billion in 2008, about 13 percent higher than the inflow that went through banks in 2007.

This amount is very big!More than the than the FDIs that come into our country every year.

**ghosthunter** · January 3rd, 2009 11:12 AM

And expect the amount to dwindle in the next few months as the reality of the economic crisis hits the OFW's families. Bascially we were operating on holiday mode during the time when we can barely afford such luxuries.

**uls** · January 3rd, 2009 11:33 AM

i thought the stand of the threadstarter is that the Phils shouldnt be too reliant on OFW remittances

dapat may strong domestic economy and strong product exports, not labor

why is he so happy overseas labor remittances are coming into the country in record amounts?

**ghosthunter** · January 3rd, 2009 11:41 AM

Originally Posted by uls

i thought the stand of the threadstarter is that the Phils shouldnt be too reliant on OFW remittances

dapat may strong domestic economy and strong product exports, not labor

why is he so happy overseas labor remittances are coming into the country in record amounts?

Because he doesn't anymore have his alternate account "TRUE FAITH" to discuss his own topics with. The loneliness might be getting to him by now.

**uls** · January 3rd, 2009 11:51 AM

really?

all that "i agree

" that goes on in his threads comes from the same person?

**jpdm** · January 3rd, 2009 09:49 PM

Originally Posted by ghosthunter

Because he doesn't anymore have his alternate account "TRUE FAITH" to discuss his own topics with. The loneliness might be getting to him by now.

I know who jdpm, a jpdm1 something guy and True Faith.I assure you I am not them. Good they are gone.

As for loneliness, dont worry Im not.

**jpdm** · January 4th, 2009 10:45 AM

Originally Posted by uls

i thought the stand of the threadstarter is that the Phils shouldnt be too reliant on OFW remittances

dapat may strong domestic economy and strong product exports, not labor

why is he so happy overseas labor remittances are coming into the country in record amounts?

These are three different things right?

Although, related.

Anyway,

Please analyze the three issues carefully.

**uls** · January 4th, 2009 05:18 PM

dude, i'm talking about your stand

your stand shifts depending on the articles you read and post

like the losing power of the peso thread

at the beginning of the thread, you call for the govt (and BSP) to defend the peso

then later in the thread, you posted an article where a local economist says a weak peso is good for the Phils. (P55 to $1 yata yun) then suddenly you are FOR a weak peso

jpdm, my point is, you do not have a solid stand

your stand shifts when you read something new

Like in this thread...

against ka sa dependence of the philippines on labor export

but now, you are happy remittances are at record levels