Monday, March 30, 2015

Ipagbawal ang GDP Growth, Part 2

A friend, Prof. Bong Mendoza, posted this  news report last January 30, 2015.

The reporters, Rina Chandran and Sharon Chen, were at the Ayala-UPSE forum at Intercon Hotel in Makati last January. I was there too. It was NEDA Sec. Arsi Balisacan who said "no longer sick man of Asia", not the reporters, not their editor/s. The article makes sense. 

The sections on consumption boom and population boom, it's true. Our big, young population is an asset, not a liability. More population means more producers and consumers, more entrepreneurs and workers. Thailand -- and Japan, S. Korea, HK, Singapore, Taiwan, China -- they are ageing. In many parts of Japan for instance, the sale of adult diapers is larger than the sale of baby diapers. Their public spending for healthcare and pensions will jump to the roof, or the sky, while the number of their young workers who will pay taxes and pension contribution will remain flat, if not declining. BIG problem for them, but not for the PH.

Bong also posted the latest WEF's Global Competitiveness Report, 2014-2015. Thanks Bong.  
Check the summary table, Table 3: The Global Competitiveness Index (GCI) 2014–2015 rankings and 2013–2014 comparisons.

It Is true that Thailand has higher GCI rank than the PH. But there are many indicators of global competitiveness. Our Constitution alone would quickly put down out competitiveness -- foreign competition and investment in many sectors is banned, or restricted to 40 percent maximum. In Thailand and other Asian economies including socialist Vietnam and China, foreign investors and competitors are allowed up to 100 percent equity in many sectors.

Some people hate to see and read the above Bloomberg and similar reports. They think there should be no good news in the PH. What we should read only are dirt, pollution, heavy traffic, trains breaking down, corruption, crimes, etc. 

Wala or konti lang dapat good news sa atin. Negative news lang dapat. Maybe it makes them feel good about themselves. Kaya dapat Ipagbawal ang GDP growth.

See also:
Fat Free Econ 43: On the Philippines' Fast Economic Growth, June 04, 2013 
Fat Free Econ 49: Growth Amid Storms, December 03, 2013 

Economic Growth and Whiners, Ipagbawal ang GDP Growth! March 18, 2015

No comments: