What's the Use of Complaining About Jollibee Acquiring Companies BUT Not Accepting Open FDI to Bring in COMPETITION to the Philippines?
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The monopolization of business ruins the business. It degrades the quality of the business of a product.
If you think monopolization is good, that's stupidity. It kills the competition and it kills the business.
Well, as old saying goes: "capitalists are the only one will destroy themselves."
Since when did capitalism mean killing competition? Isn't Porky supposedly a die-hard Communist? In the earlier days, China and Vietnam tried establishing a self-industrialized state. It was only a short time before reforms under Deng Xiaoping and Nguyen Duy Cong, aka Do Muoi, happened. Do Muoi established Doi Moi as the General Secretary of the Communist Party of Vietnam (CPV).
The complaint is that Jollibee is buying businesses, killing competition. However, when asked about FDIs, I get the dumbest statements ever. I will requote something Porky said without revealing his identity. Some people by now would know who Porky is.
To all the inattentive people who push for FDI (foreign direct investment), why are you relying on foreigners to have a better economy in the Philippines?
Why don't we just strive to work to improve our economy? Don't keep complaining that the 1987 Constitution is already old and that we need FDI.All you do is rely on foreigners. You are all rocks! Work and don't dilly dally in your jobs. You are not given mininum wage just to be inattentive.
Does Porky even know what FDI is all about? The Investopedia gives its definition of FDI as:
Foreign investment involves capital flows from one country to another, granting the foreign investors extensive ownership stakes in domestic companies and assets. Foreign investment denotes that foreigners have an active role in management as a part of their investment or an equity stake large enough to enable the foreign investor to influence business strategy. A modern trend leans toward globalization, where multinational firms have investments in a variety of countries.
It would be time to face it that even Communist countries like China and Vietnam have been accepting FDIs. In this case, Vietnam is rising and becoming more attractive to FDI despite its status as a Communist country. However, Porky still believes that Filipinos should "strive to work to improve the economy" and that it's "not the fault of the constitution". How does he propose to do it anyway? Do everything ourselves? The person may even resent Singapore because of Flor Contemplacion sentimentalism (read about that here). Not all Filipinos are business-oriented. Lee Kuan Yew didn't even wait until all Singaporeans were better. But for Porky, he just falls on deaf ears, and would prefer Madame Whale's nonsense. Madame Whale even blames FDIs for certain unfavorable events in Singapore. I wouldn't be surprised if Madame Whale ends up like Amos Yee.
FDI again isn't borrowing money from other countries, getting a foreign boyfriend for Filipino women (which Mukhang Adik calls FDI as foreign d*** insertion), selling the Philippines to foreigners, or whatever nonsense. The word investment has a different meaning from loan, dating, exploitation, and even invasion. How many times do I need to tell them that foreign investors aren't invading the Philippines? FDIs are still subject to the laws of whatever country they do business. Are they still expecting that Filipinos should just "do everything themselves"? Did they not learn from the disaster of the planned Great Leap Forward by Mao Zedong? Some want to exonerate Mao of the blame but survivors in China say otherwise. History has proven Mao's disastrous plans only caused China to crash. China never had the Great Leap Forward as Mao planned--proving that national self-industrialization is a lie.
Do I need to mention Jollibee is now an MNC? Jollibee is my favorite proof that Filipinos can survive against MNCs (read here). However, a lack of competition in the Philippines caused the oligarchy to rise. The definition of oligarchy is power in the hands of a few. How can it be an oligarchy if there are FDIs? I want to challenge people who say that open FDI will "benefit only the oligarchs" to prove their claims (read here). Come on, I dare them to prove it and if they can prove it with empirical data from first-world countries, they should get a million pesos, tax-exempt. They should take their claims to schools like the Foreign Trade University (FTU) of Vietnam. If not, they don't deserve that money! Of course, they may want to lie about their victory to get the money.
Going against open FDI will just encourage monopolization. Can Filipinos really just strive and create competition against the oligarchy? Tough luck! It's because if Filipinos should start "doing everything themselves"--they need to ditch Facebook for a start. That's what makes Porky and his pals hypocrites. They might want to say that they have "no choice" because the foreigners "unfairly own the means of producing equipment" (read here). However, some of them are even using Apple products, which makes me ask why buy Apple products when there are affordable alternatives they could use? Why get a MacPRO if an HP or Samsung laptop is more affordable? Why get an iPad if a Samsung tablet is more affordable? Again, the hypocrisy is glaring but do they even notice their self-contradiction? I believe this reveals that they're most likely lying for their own benefit. If FDIs are discouraged because of the lousy 60-40 equity scheme--why would local businesses want to do better? In the world of survival of the fittest, billionaires can just easily gobble up companies. A sari-sari store would be easily gobbled up by a mall owner.
It would be time to ask, "What's the use of hating oligarchs if you support policies that caused the oligarchy?" The oligarchy exists for one good reason--the lack of competition caused by the Filipino First Policy. Yes, Carlos P. Garcia's aim was to make sure that Filipinos would be the major participants in the Philippine environment. However, the cost was rather high as only a few Filipinos could ever provide for the needs of many Filipinos. As a result, the oligarchy is there and Jollibee, by default, is part of the oligarchy. Any Filipino big business becomes a part of the oligarchy by default, due to the lack of competition. The lousy Filipino First Policy only caused the Philippines to fail. It's because it failed to account not all Filipinos are fit to be entrepreneurs. If everyone were "fit to be entrepreneurs" then there would be no workers!