The Philippine Economy

[Manila-X]

Even if China, India and The Philippines are some of the top economies, they remain as developing countries.

Social issues such as poverty is still a key issue to these countries despite the high economic value.

[amigo32]

Originally Posted by monsy

ako bakla? itanong mo sa nanay mo, baka nga anak pa kita eh.

naku lagot ikaw nga fafa ko

[amigo32]

Originally Posted by romantic_guy08

It's The Economy, Student! written by PGMA.

In the last year and a half, I have noted with sadness the increasing vacuum of leadership, vision, energy and execution in managing our economic affairs. The gains achieved by previous
administrations – mine included – are being squandered in an obsessive pursuit of political
warfare meant to blacken the past and conceal the dark corners of the present dispensation.
Rather than building on our nation’s achievements, this regime has extolled itself as the sole
harbinger of all that is good. And the Filipino people are paying for this obsession--in slumping
growth, under-achieving government, escalating crime and conflict, and the excesses of a
presidential clique that enjoys fancy cars and gun culture.

Vilification covering up the vacuum of vision is the latest manifestation of the weak state that
our generation of Filipinos has inherited. The symptoms of this weak state are a large gap
between rich and poor — a gap that has been exploited for political ends — and a political
system based on patronage and, ultimately, corruption to support that patronage. Recently,
politics has seen the use of black propaganda and character assassination as tools of the trade.The
operative word in all of this is “politics” – too much politics.

I know that the President has to be a politician, like everybody else in our elected leadership,
whether Administration or Opposition, and we must all co-exist within this system. But what
really matters is what kind of politics we espouse, not how much. The enemy to beat is
ourselves: when we spread division rather than unity; when we put ego above country and
sensationalism above rationality; when we make everyday politics replace long-term vision in
our country’s hour of need.

Everyday we draw nearer to what may be our country’s hour of greatest need, because an
increasingly ominous global environment is aggravating our self-inflicted weakness. The
leadership’s palpable deficiencies in vision and execution are hurting our economy at a time
when the rest of the world faces the ever more real threat of a double-dip recession, one that we
may have escaped the first time during my term, but might not be able to avoid again.

Our dream of growth

In order to avoid such a grim outcome, we must pursue the economic growth of our country as
the permanent solution to our age-old problems of poverty and even corruption. Every postwar
Administration to my recollection has sought to advance the economic growth of our country as
a matter of highest priority. Only by enlarging the economic pie can there be more and bigger
slices for everyone to enjoy.

[monsy]

Originally Posted by amigo32

naku lagot ikaw nga fafa ko

hehehe, saan ba parlor mo ngayon?

[amigo32]

meron sa greenbelt- 2
ayala center cebu -1
ayala ave- 3

buong MMla - 40 branches na po papa
nationwide - 160 branches po gusto mo magpa bayuti fafa

[expatdingdong]

Originally Posted by amigo32

meron sa greenbelt- 2
ayala center cebu -1
ayala ave- 3

buong MMla - 40 branches na po papa
nationwide - 160 branches po gusto mo magpa bayuti fafa

bonga! ang laki yaman mo pala Amigo eh

[boypad]

Originally Posted by romantic_guy08

It's The Economy, Student! written by PGMA.

Clearly the article written by former president answer our question what is happening to our economy. I remember when I took a seminar in 2009 conducted by UAP Economist Prof. Vic Abola he mention the two economic pillars that shielded PH from global recession during GMA term, it was OFW and BPO. If we lose later the local BPO industry our economy will be in deep trouble

[boypad]

Asian BPO markets to neutralize US move vs. outsourcing – ILO

GMA News.tv
January 12, 2012 1:03pm

Other opportunities in Asia await Filipino business process outsourcing (BPO) workers in case the US Congress passes a bill that keeps American companies from farming out non-core operations overseas, the International Labor Organization’s (ILO) Philippine director said Thursday.

ILO’s Lawrence Jeff Johnson noted an increasing number of Philippine-based BPO companies now servicing Asia.

“The Philippines is in a unique position with its widely educated labor force that continues to grow. I don’t believe that US is the only BPO market,” Johnson told reporters at the launch of ILO-Department of Labor and Employment’s (DOLE) Knowledge Center and the Department of Labor and Employment in Manila.

Instead, the Philippine government should use the US legislative measure to refocus on generating jobs for highly skilled Filipino workers — in contact centers — that may be initially displaced, according to ILO official.

Filipino workers have wider job opportunities because of their sound education and skills in spoken English, Johnson said, echoing the praises attached to agents working for Philippine-based BPO companies.

The US legislative measure is a mere adjunct to addressing America’s financial and economic problems. Johnson said

http://www.gmanetwork.com/news/story...lo?ref=sechead

Here you go ILO is now saying there is a certain chance that this outsourcing bill might become a law.

[Maxtini]

Originally Posted by ritche

World’s top economies in 2050 will be...

Just accessed this very inspiring forecast by HSBC analysts:



Source

It's weird, why did I find it different from what I read last week at HSBC website? Is it from the same report? It seems the CNNblog just insert Phillipines in between Russia and Indonesia and push all other countries down 1 rank.

http://www.hsbcnet.com/gbm/global-in...d-in-2050.html

1 China (+2)
2 US (-1)
3 India (+5)
4 Japan (-2)
5 Germany (-1)
6 UK (-1)
7 Brazil (+2)
8 Mexico (+5)
9 France (-3)
10 Canada (0)
11 Italy (-4)
12 Turkey (+6)
13 S. Korea (-2)
14 Spain (-2)
15 Russia (+2)
16 Indonesia (+5)
17 Australia (-3)
18 Argentina (-2)
19 Egypt (+16)
20 Malaysia(+17)
21 Saudi Arabia (+2)
22 Thailand (+7)
23 Netherlands (-8)
24 Poland (0)
25 Iran (+9)
26 Colombia (+13)
27 Switzerland (-7)
28 Hong Kong (-3)
29 Venezuela (+7)
30 South Africa (-2)

[Bosnyboy]

Hala tsk tsk. Sana naman di magkatotoo, maraming buhay ang biglang magbabago. Nasanay na ang mga workers ng bpo companies sa high life. Laging bago ang gamit mapa damit, celfone, bag at mayat maya may bakasyon kung san san. Malaki din ang magiging impact sa ating retail industry like shops sa malls, coffee shops, restaurants, spas. Credit card companies could see a rise in unpaid bills. Some kids may be out of school. The real estate and construction industry will also take a hit. The gleamng office towers we have right now will become a proverbial ghost town. Dannngg, bad trip yan.

3.8% na lang nga ang gdp natin eh, pag umalis ang bpo industry pano na kaya?

[Bosnyboy]

On the positive side, maraming tao ang pwede ng matulog sa tamang oras. Wala ng eyebags at high blood, di na ren kailangan magpa check up ng mata ng madalas. Mababawasan o babagal na ren ang pagkalat ng sakit na AIDS. Win some lose some.

[ritche]

From HSBC website (posted 04 Jan 2011)
1 China 2
2 US -1
3 India 5
4 Japan -2
5 Germany -1
6 UK -1
7 Brazil 2
8 Mexico 5
9 France -3
10 Canada 0
11 Italy -4
12 Turkey 6
13 S. Korea -2
14 Spain -2
15 Russia 2
16 Indonesia 5
17 Australia -3
18 Argentina -2
19 Egypt 16
20 Malaysia 17
21 Saudi Arabia 2
22 Thailand 7
23 Netherlands -8
24 Poland 0
25 Iran 9
26 Colombia 13
27 Switzerland -7
28 Hong Kong -3
29 Venezuela 7
30 South Africa -2

From CNN website (posted 12 Jan 2012)
1) China (+2)
2) U.S. (-1)
3) India (+5)
4) Japan (-2)
5) Germany (-1)
6) UK (-1)
7) Brazil (+2)
8) Mexico (+5)
9) France (-3)
10) Canada (same)
11) Italy (-4)
12) Turkey (+6)
13) S. Korea (-2)
14) Spain (-2)
15) Russia (+2)
16) Philippines (+27)
17) Indonesia (+4)
18) Australia (-2)
19) Argentina (2)
20) Egypt (+15)
21) Malaysia (+17)
22) Saudi Arabia (+1)
23) Thailand (+6)
24) Netherlands (-9)
25) Poland (-1)
26) Peru (+20)
27) Iran (+7)
28) Colombia (+12
29) Switzerland (-9)
30) Pakistan (+14)

Some adjustments must have been made from the initial list released by HSBC more than a year ago, and interpreted by CNN...Peru and the Philippines were inserted in the latest CNN list.

[boypad]

There are so many indirect business and SME that will be affect when economic drought will hit our BPO industry.

Lets just explore one typical BPO sites say Eastwood City. How many SME store, fastfood, restaurant, gimmick place will close shop if only 20% workforce will remain in that area. Not to mention those leasable condos surrounding that area. No more renter will take-up the available units for lease. Not to mention the possible impact to transport sector specially taxi cab, no more suki to ride. Not to mention the host LGU getting their income from taxes to those BPO companies. Banking sector will surely be hit also like foreclose property (no BPO relocator), high delinquent credit card borrower and degraded market value of property since it will become ghost town. Shopping malls will definitely hit also. Service sector such as janitorial and security service will need to lay-off manpower. Telcos will have a reduce income due lose of business customer who leased big chunk of network capacity. Real estate sector will be hit harder and could trigger property bubble burst and recovery will take a long time. Local unemployment market will be skyhigh due to added unemployed call center agents combine with newly graduate students.

Now you tell me it doesn't have effect on economic and political stability of PH? This economic tsunami can still be prevented if this current administration start to be proactive instead doing wait & see

[ritche]

I always think that market forces will prevail...They were not able to prevent the exodus of manufacturing jobs and activities to China...

[boypad]

Call center agents can have more fun in tourism industry

By: Philip C. Tubeza
Philippine Daily Inquirer
8:19 pm | Tuesday, January 10th, 2012

MANILA, Philippines—The new tourism slogan better take off. “It’s more fun in the Philippines” if everyone had a job.

With a bill pending in the United States Congress seeking to stop American firms from outsourcing their operations overseas, the Philippine government is eyeing jobs in the tourism sector for local call center agents who may find themselves in the streets, Labor Secretary Rosalinda Baldoz said Tuesday.

The tourism industry, however, better take off, especially with the launch of a fresh Department of Tourism effort to entice foreign visitors with the slogan “It’s more fun in the Philippines.”

Baldoz said local business process outsourcing workers who may be displaced could be absorbed in the tourism sector since they were fluent in English.

“Just in case this [US bill] is passed into law—which of course we don’t want to happen—one measure would be to retrain and retool our workers,” said Baldoz in a press conference.

“We can quickly train them for work in the service industry like in hotels, restaurants and tourism-related establishments, or in merchandising and trading services,” she said.

http://technology.inquirer.net/7459/...rism-industry/

[ralfy]

From the same organization:

"HSBC Bombshell: Oil Will Run Out in 50 Years"

http://www.good.is/post/hsbc-bombshe...t-in-50-years/

Mind you, that doesn't mean that we have 50 years of business as usual. That means oil production will steadily decrease for several decades even as a global economy needs increasing amounts of it to maintain growth.

The implication is a permanent global recession driven by oil shocks, high food prices, chronic unemployment, etc.

And it's not just HSBC but also Deutsche Bank, the U.S. and German military forces, Lloyd's of London, Chatham House, and various British firms and organizations, the NZ and Australian governments, the IEA, Morgan Stanley, BP, ExxonMobil, and other organizations that have been issuing related warnings.

[b0rnth1sw4y]

Well ,well Goldman Sachs said the PHL will be in the 14th spot by 2050 while HSBC says it will be on top 16.Sounds good, but this is all just a projections, we should exert more effort to accelerate our economy. Remember this is just a projections we can achieve much more than that or much less than that.

[ritche]

Originally Posted by ralfy

From the same organization:

"HSBC Bombshell: Oil Will Run Out in 50 Years"

http://www.good.is/post/hsbc-bombshe...t-in-50-years/

Mind you, that doesn't mean that we have 50 years of business as usual. That means oil production will steadily decrease for several decades even as a global economy needs increasing amounts of it to maintain growth.

The implication is a permanent global recession driven by oil shocks, high food prices, chronic unemployment, etc.

And it's not just HSBC but also Deutsche Bank, the U.S. and German military forces, Lloyd's of London, Chatham House, and various British firms and organizations, the NZ and Australian governments, the IEA, Morgan Stanley, BP, ExxonMobil, and other organizations that have been issuing related warnings.

That's why I always advocated for clean and renewable energies...If oil companies still lobby for governments to protect their interests such as the "killing" of the electric vehicles, I believe that would be tantamount to committing economic suicide. If the development of clean and renewable energies were allowed to go unhampered even in the 70s, then we could have been enjoying well developed clean energy sources by now...Also, we need to make our cities more livable by planting more trees to cool our environment. Despite the fact that nowadays I am of the opinion that global warming may not be real at all, planting trees and using renewable energies have always been good moves for long term and sustainable economic growth.

[Parchie]

Originally Posted by ritche

That's why I always advocated for clean and renewable energies...If oil companies still lobby for governments to protect their interests such as the "killing" of the electric vehicles, I believe that would be tantamount to committing economic suicide. If the development of clean and renewable energies were allowed to go unhampered even in the 70s, then we could have been enjoying well developed clean energy sources by now...Also, we need to make our cities more livable by planting more trees to cool our environment. Despite the fact that nowadays I am of the opinion that global warming may not be real at all, planting trees and using renewable energies have always been good moves for long term and sustainable economic growth.

I'm a little bit confused with this one, IMHO. There are many "renewable energy sources". And it's never correct to make claims as to which energy source is better sans specifics, you know? Pray, enlighten us on which energy source you found rationally desirable in our Philippine setting. I believe there's much to thresh out on these area as pros and cons abound on either choice/s. If you care, please give us a picture on what you called "well-developed clean energy". Then we can dissect those items for good.

[ritche]

Nature has always provided us with good sources of energy for our development. The sun itself is one big well developed and efficient nuclear reactor that does not produce wastes...Scientists have already developed technologies to produce well developed nuclear fusion (or fission?) that produce far less wastes and is therefore less dangerous than the present power plants that we have...In our province, we have clean geothermal energy that is suppose to be renewable if watershed is maintained and protected. It is also said that the Philippines has abundant amount of wind to produce vast amounts of electricity.

If these technologies were developed before, then clean and renewable energies would have been cheaper and easier to produce by this time.

We have heard a lot of conspiracies such as executives of oil companies lobbying in the US Congress to hamper or slow down the development of these technologies...However, we could not also blame them...It is true that the mining of coal and petroleum have made energies cheaper after World War 2 and thereafter, until the 1980s. It is also true that cheap petroleum and coal (non renewable energies) helped in the fast growth of the world economy.

However, they were driven by greed and did not foresee the time when such resources would be depleted. Indeed, the supply of the world's coal and petroleum has dwindled and it is now very urgent that we develop clean and renewable energies, and make them very cheap and efficient.

The side effects of the lack of foresight of the economists and policymakers before are the polluted cities and the unhealthy environment in many areas, and the so called "Global Warming", which could really be temporary after all as the long term effect of all these things could actually be global cooling...