Kabataan Partylist SERIOUSLY Needs to Learn BASIC Business from the Ho Chi Minh Communist Youth Union

-
Foreign Trade University

A few days ago, I wrote about Kabataan Partylist needing to learn economics from the Ho Chi Minh Communist Youth Union. Otherwise, I'll continue using Vietnam Youth Union for convenience. Speaking of which, the Foreign Trade University in Vietnam is actually a government-owned university (read here). For this post, I decided to expand on a point, saying that Kabataan Partylist needs to learn from the Vietnam Youth Union on entrepreneurship. I pretty get jealous of the Vietnam Youth Union members with their practical early immersion. 

The National Defence Journal of Vietnam gives out this important detail of the Vietnam Youth Union: 

Fifth, enhancing the support of young intellectuals to get access to opportunities of work, research, develop ideas, products, and start-up to legitimately enrich themselves, the community and the country. Support the implementation of startup ideas and projects of young intellectuals in practice, making practical contributions to the country's development. In addition, there should be solutions to support young intellectuals to access capital to start their business. Actively innovate the content and methods of operation of intellectual organisations, etc., contributing to the successful implementation of the Party's resolution, building a contingent of young intellectuals with dreams, ambitions, and aspirations to develop themselves, make contribution to the country, and follow the entire intellectuals of the country on the path of integration, development, and make the country increasingly rich, prosperous, civilised, and happy.

Do Kabataan Partylist members really understand how businesses work, even at a basic level? 

Kabataan Partylist Twitter

When I think of Kabataan Partylist and their insistence on #SahodItaasPresyoIbaba economics, like what?! I end up saying "What?!" whenever I hear their stance against FDI, their crying foul when the Public Services Act of 2022, and their stance that we need a wage hike, not charter change. Do these people think that such decisions aren't ruled by the law of economics? Some people I ran into on Facebook (of all places) insist that supply and demand laws are all part of "some grand conspiracy by big corporations" (read here). Really, well, try refuting the idea of supply and demand then! Mao Zedong tried, Pol Pot tried, and both ended with disastrous results! 

The insistence on #SahodItaasPresyoIbaba can be proof of a lack of necessary economic knowledge. If they think increasing salaries while reducing the prices of goods, all at once, can work, one must ask, "Have they seen an income statement?" Of course, some people might even say, "But profits are just unpaid wages!" Excuse me, profits are barely half of the revenues! They may have studied some economics in high school and college, but it's purely theory. What do you expect when the Philippine education system grades us more on what we memorize for a test than what we understand? Grading should be based on understanding! A good grade should spring out of learning and healthy minds, not a result of excessive pressure to get them.

Business & Plans

We need to take a look at the sample income statement. Any person with basic knowledge of business would know that SG&A means selling, general, and administrative expenses. In short, that also includes the salaries of the workers. If one must increase the salary of the workers, they need to increase the prices of goods and services. Where will they get the money to increase the salary of the workers? Thin air? Print more money, which by the way, is inflationary and will reduce the value of the money. It should be funny that the Vietnam Youth Union is holding money much weaker than the PHP. The VND is barely equal to PHP 1.00. In fact, today's exchange rate is PHP 0.0022! However, why are investors flocking to Communist Vietnam instead? Why hasn't Vietnam ended up like Venezuela? Ever ask those questions and bother to research them, then rely on the IBON Foundation?

A sudden salary increase would mean, "It's time to raise prices too." That means a PHP 750.00 to PHP 1,200.00 daily salary isn't ideal under the current conditions. Salary increase is determined by supply/demand conditions in the job market, not #SahodItaasPresyoIbaba economics by the Trust Me Bro School of Economics (read here)! The final product must be sold higher price if the conditions require a price increase. Sell at a higher price when necessary. Sell at a lower price when necessary. Pricing conditions all depend on the law of supply and demand, not #SahodItaasPresyoIbaba economics. 

What may put Kabataan Partylist at odds with the Vietnam Youth Union is an understanding with business. The Vietnam Youth Union would've been immersed in businesses, even before entering business school! I would feel humbled if I were to meet the Vietnam Youth Union members. I even ask myself, "What can practicum in college teach compared to this?" I look at the Vietnam Youth Union members, and they're doing a business practicum even before college. What might be even more embarrassing is if there are commerce students in the Kabataan Partylist! 

If Kabataan Partylist were involved with businesses, they would start to understand how businesses work. They would get immersed in a basic income statement. They would see that increasing the salaries would also mean, having to increase the prices of goods and services. They would look at the costs of supplies for their raw materials. However, Kabataan Partylist is showing their lack of an entrepreneurial mindset. If they did, they wouldn't be talking about wage hike like it's just a walk in the park!

The Vietnam Youth Union's business-minded Communist youths

24h.com

It's easy to throw Alice Guo jokes (and they can be distasteful), especially the woman above looks even more like the dismissed mayor than chess champion Ju Wenjun. However, this is Ha Thi Thu Trang, a member of the Vietnam Youth Union with more brains than the cum laudes of Kabataan Partylist! I wish I had the context of the interview. The picture above has Thu Trang having an interview for her "Digital Transformation Startup Creative Idea Contest in Business". If only I could just find the news report. Given her course as a real estate major (and a cum laude at it), I was thinking about how she might be trying to fix imbalances between the rural area and urban area in Bac Giang. Bac Giang happens to be an agricultural center, and I believe Thu Trang might be living on a farm too.
"Currently, I feel very happy when I achieve with the certificates of merit, certificates of merit, and noble awards awarded by the Student Union at all levels. However, it is also from here that I feel the need to make efforts to improve myself and contribute a small part of my efforts to develop the work of the Youth Union - Association.

I always live, study and work with the concept: "On the road to success there are no footprints of lazy people" and if you try, you will achieve worthy results. As a young person, first of all, each of us needs to strive to improve ourselves, cultivate soft skills, because when we try to complete our tasks and missions well, we are living a useful life and contributing to the development of society." 

Vietnam National University 

The Vietnam Youth Union's involvement in business gives them an edge over Kabataan Partylist. The Vietnam Youth Union could've just focused on community service, like Kabataan Partylist. They could've just chosen to focus on activities (like above). The Vietnam Youth Union would have the awareness that to keep a pantry going, they need to buy the goods. This may be why the Vietnam Youth Union members are encouraged to engage in basic business. In doing so, Vietnam Youth Union members could raise money by asking for donations. In the process, the Vietnam Youth Union members may be more reliant on fundraising than donation asking. I don't think the Vietnam Youth Union has discounted asking for donations entirely. It's more likely they do both fundraising and donations. 

To think of it, the Vietnam Youth Union might even ask Kabataan Partylist, "Are you willing to dare to pay PHP 1,200.00 per day while selling cheaper goods?" This might have Kabataan Partylist members answer, "It's government responsibility, not ours!" Vietnam Youth Union members might even present their accounting statement from their small business, to prove that #SahodItaasPresyoIbaba economics doesn't work. Vietnam Youth Union members would say, "Well, why not prove it by opening your proposed #SahodItaasPresyoIbaba stores?" 

It's because the Vietnam Youth Union is under the influence of Doi Moi. Kabataan Partylist is under the influence of the Filipino First Policy. The Vietnam Youth Union underwent a radical transformation when Doi Moi became an integral part of the Communist Party of Vietnam. Meanwhile, the Filipino First Policy makes the Philippines laughable. People blame corruption as the sole reason why FDIs aren't entering. Reality talk: Communist Vietnam has had more FDI inflows than the Philippines (read here)! To Lam, the current General-Secretary (that is, the chairman) ate a gold steak and even imprisoned a critic. Vietnam isn't ideally freer than the Philippines. However, the Philippines wasted its freer environment through excessive economic restrictions! Kabataan Partylist still defends such third-world mentality nonsense. Meanwhile, the Vietnam Youth Union evolved from isolationism to prosperity. 

Comments

Post a Comment

Popular posts from this blog

Does Kabataan Partylist Understand How International Marketing Works?

-
Image
I'm amazed (but not surprised) at Kabataan Partylist's economic illiteracy . The group seems to be stuck in the pre-Doi Moi days of Vietnam. Do they believe that Vietnam actually got rich through national industrialization? Thankfully, the Philippine Anti-Fascist League Facebook page (old one) collapsed like the Berlin Wall. However, I decided to look at Kabataan Partylist's Facebook page and found another idiotic statement. Yes, it's by Atty. Renee Co. Right now, with the Philippine justice system being so weak (just remember how the Vizconde Massacre and the Chiong Sisters Case are both, case unclosed ), I'm no longer too beholden to lawyers. There are good lawyers but I don't think Renee is one of them! Anyway, to translate Renee's statements in English, it would be like: The real reason behind the oil price hike is deregulation. The government is no longer in control and they're allowing the oil businessmen to increase prices, whenever they wish. Eve...
Read more

Mahathir Mohamad's Quote on "Never Stop Learning" is Why I Support Economic and Political Charter Change

-
Image
Inspirational Quotes Back when I was in high school, I often felt I "never lived up" to the "legacy" of my family. It's an often bad habit by boomers to put their children under their shadow, brag about how "great" they are, and even talk and talk about the "good old days". Newsflash! An old man had something that would offend boomers. This old man is former Malaysian Prime Minister  Mahathir Mohamad . To avoid the Duterte vs. Aquino dichotomy--I often put the late Benigno Simeon "Noynoy" C. Aquino III under scrutiny. More likely, put the presidential system under scrutiny! I'll admit Noynoy had his ups, but he too had his downs.  Now, for Mahathir's words that reflect on how surprisingly updated this old man is, compared to stubborn boomers: He said education today was not only about learning history or literature, but more about learning new sciences that are revolutionising the world. “ Even business is now affected by ne...
Read more

#SahodItaasPresyoIbaba Economics May Be Confusing Profits for Revenues

-
Image
A really disastrous decision! As I read through Facebook, the amazing foolishness and economic illiteracy are there. What do you expect from a nation that's driven by an education system where economics was only taught in either the  third year or fourth year , under K+10? What do you expect from a nation where mathematics education focuses too much on theory rather than the wonderful application of the subject? I'm going to write about those who talk about FDIs, that only they will get rich because they will run away with the profits, etc. It's because I'm afraid there's really a lack of understanding of what profit really is.  Most people in the Philippines may be operating with the typical merkado mindset. I remember reading through the arguments of someone who quotes CTTO Merkado. Who in the world is Merkado CTTO (read here )? As I was thinking about it, I heard about how people running businesses in the merkado or marketplace, whether it's the wet market or...
Read more

GrabFood vs. FoodPanda--How Foreign Delivery Services Help Grow Filipino Businesses

-
Image
Moneymax I could remember the pandemic when ordering from GrabFood and Foodpanda became the thing. The COVID-19 pandemic would've totally stifled the restaurant and food businesses, especially before the vaccinations. Right now, I've had my three Pfizer shots in total. As restaurants began to re-open, dine-in was still strictly not allowed until a certain percentage of Cebu City was vaccinated. I began to order some food whenever I need to (or want to) even with such limited choices. This had me thinking about how imported services can help local businesses.  Whether those "nationalists" want to admit it or not--neither GrabFood nor Foodpanda are founded by Filipinos. Instead, GrabFood is founded in Singapore and Foodpanda is founded in Berlin, Germany. If it wasn't for the fall of the Berlin Wall--there would be no Foopanda. Back then, I remembered dining in my favorite local restaurants. However, the delivery service came and there were times I felt too lazy to ...
Read more

Using Vietnam to Justify No to Economic Reform is Rooted on ECONOMIC IGNORANCE

-
Image
VNUA Some time ago, I remember the   now-defunct  Philippine Anti-Fascist League Facebook page. One of its administrators (and I heard that it's actually run by a group of Gen-Z brats) berated the CoRRECT Movement. I'll put a screenshot of that statement made by one of the administrators (and I heard one of them was just a 13-year-old brat at that time). For the sake of non-Tagalog speakers (although the Philippines is my default target readers), I will translate what this prick of an administrator wrote on their  now-defunct  Facebook page. Although it's already been taken down, I believe the need to continue refuting their past arguments along with other similar pages. Refute them using common sense and research data from economists from  first-world countries ! The translation goes like this: Vietnam won the revolution, and they had a national industrialization and agrarian reform. What Vietnam's "Open FDI" means that the koriktor (a mockery of Corrector) a...
Read more

Should Noynoy Aquino be a Valid Excuse to Reject Econ Cha Cha?

-
Image
Philippine Star   This may be a touchy post. Politics is often a source of fights during parties. That's why we're told not to talk about politics during parties. Unfortunately, some people on Facebook are now using the late Benigno Simeon "Noynoy" C. Aquino Jr. as an excuse not to execute even economic charter change. Never mind that blatant supporter of Atty. Maria Leonor "Leni" Gerona-Robredo, Andrew James Masigan, supports economic charter change . The late Charles Edward P. Celdran was also an anti-Duterte critic. As I looked at some okay boomer posts, I'm not surprised at people who still use Noynoy as an excuse to shout with all their might, "No to economic charter change!" Somebody posted on Facebook the following. As always, I won't publicly shame anyone. If possible, I will only refer to them by codenames or use the name Anonymous. I want to remain as professional as possible. This person said that under Noynoy there was no econom...
Read more

Losing Much Money in Stocks Via Impatience

-
Image
The year is almost over and I guess I'll write a few more Season's Beatings huh? Right now, I'm keeping an eye on the PSEi score is around 6,500+ as of late. I could remember the time when the stock market went bloody red and this never left my mind... I could remember all the sarcastic "YEHEY?" from the toxic world of Twitter. There's also such stupidity on Facebook. I could remember arguing with some people who ended up using Ad Homimens in regard to the red stock market scores. Yet, what Warren Buffett says is, "Buy when there's blood on the streets." (read here ) As Buffett would also say, "Be fearful when others are greedy. Be greedy when others are fearful." That's if one talks about market timing . Still, I believe in timing the market and time in the market. It's like if I decide to cost-average during low-tier days and add more money when the value is low. In my case, I prefer to use an index fund (in my case the Philip...
Read more

Does Hilario G. Davide Jr. Know How to Make the Philippines Rise Up in the Asian Century?

-
Image
As talks for constitutional reform is on, Hilario G. Davide Jr.'s quotes on the 1987 Constitution of the Philippines are posted on Facebook. It's an irony that Davide Jr. was once a  UN  diplomat. Again,  UN  as in  United Nations . Then he has the nerve to say that the 1987 Constitution of the Philippines is the "only constitution" that he knows that is pro-God, pro-Filipino, pro-people, pro-poor, pro-life, pro-family, pro-marriage, pro-human rights, pro-women, pro-environment among others. That alone made me laugh because the moment I heard it, I said, "Huh? Has he even bothered to read other constitutions?" The only pro-environment constitution? Please, Singapore has had better environmental laws. Don't tell me that other countries aren't pro-life or what? I wonder what even led him to say that statement? It's at that point that made me ask, "Does Davide Jr. know how to bring the Philippines into the emerging Asian century?" People a...
Read more

Red Lizard: Wrestling With Your Taste Buds With Delicious Mexican Food

-
Image
During the late 2010s, I remember one of the greatest things I got into was Mexican food. I remembered a delicious Mexican restaurant opened in I.T. Park Cebu but it was later closed down. From what I heard, the owner closed it down out of grief and I don't blame the person for it. Years later, there was El Taquito at SSY which I also enjoyed. However, El Taquito is now located on Governor M. Roa Avenue in Cebu City. I would like to talk about the Red Lizard--Taqueria which has branches in SM Cyberzone, IT Park (where I usually get my deliveries), and Ayala Center Cebu.  I had quite a wild imagination thinking the restaurant was founded by a retired wrestler. I thought Red Lizard was a real luchador or Mexican wrestler. On the contrary, the character of Red Lizard is as fictitious as Jollibee's mascot, an anthropomorphic bee named Jollibee. Further research showed that Red Lizard belongs to the Abaca Group of Companies founded by Jason Hyatt and his Chinese wife Anna (whom he m...
Read more

I Used to Hate School Because the System Placed More Importance on Grades Over Learning

-
Image
Faculty of Medicine Some time ago, I wrote about the problem of grades over learning education . It's a good thing that someone I knew who graduated summa cum laude from a very difficult course, did remain humble. It's unlike Rep. Raoul Abellar Manuel who shouted he was a cum laude in a middle of an argument. The same person posted on his wall talking about the thoughts of why students cheat. I could remember the whole statement that teachers would make, "Your grades will determine your future! If your grades in math and science suck, just take HRM!" Such statements show the Philippines' bad education system (read here ). Why the statement "A good grade is a sign of good character." may often be misunderstood I'm going to stress out my frustrations. I guess it's easy to take what educator Jonathan Gochuico said about not romanticizing bad grades, saying character is better. Maybe, he could be partly wrong but I believe that a good grade (which sh...
Read more