Skip to main content

No Need for 100% FDI Shares Ownership if Filipino Politicians Were Just Like Shinzo Abe?

Today is the second death anniversary of Shinzo Abe, the former Japanese prime minister. It's a sad fact that Abe died so soon via assassination. This reminds me of a certain fool on Facebook (who's got a strong anti-Marcos rhetoric) who said, "We don't need 100% FDI share ownership. We just need strong leaders like Shinzo Abe!" The same fool had already blocked me on Facebook. I want to really dance for joy when it happens. As I examined his logic, I found that many Filipinos still misunderstand the lack of FDI inflow. Of course, some keep talking about the late Benigno Simenon C. Aquino III, as to why there's no need for constitutional reform (read here). However, relying on past successes as not to improve anything in the present, will murder any more chances for future successes.

There's a real problem with the statement. One needs to take a look at the Constitution of Japan. Some might argue that it's actually older than the 1987 Constitution of the Philippines. However, I'd like to say that the issue (at times) is that it's not because something is new or old. It's about whether something new or old delivers results or not. To say that nothing is wrong with the Constitution and should "never be amended" is wrong. However, I'd like to point out that the Constitution of Japan still works because of the following:

  1. Japan, by default, is a Parliamentary System. This actually goes hand-in-hand with Japanese having a strong sense of honor. Not that I support the seppuku culture though! A parliamentary system makes it 
  2. Japan doesn't contain the ridiculous economic restrictions found in the 1987 Constitution of the Philippines!
This is what makes me ask them, "What kind of government does Japan have?" They often argue stuff like:
  1. The parliamentary system is suitable for countries like Japan and Malaysia, because their officials are not corrupt, unlike the Philippines.
  2. The parliamentary system didn't work during Marcos' time, so Filipinos should avoid it. Never mind that the first Marcos administration was still presidential in character. 

The problem is that we think that countries will not mind the ridiculous 60-40 policy if only more politicians were like Abe. I could fire a question like, "Was Noynoy like Abe or Mahathir Mohamad?" They could either get defensive or just say, "Yes." However, they could keep talking about Joseph Marcelo Ejercito (who I believe, was really corrupt), Gloria Macapagal-Arroyo, and Rodrigo R. Duterte (who is currently detained at the more humane ICC cells). 

It's a huge problem when Filipinos still misunderstand what 100% FDI shares ownership actually means (read here). These economic neanderthals think that it means, "The Philippines is for sale." What's even funnier is that some people may actually think, every country has a 60-40 proposal! Where did that person get his information? From the mouth of a Catholic priest, who is a member of the Catholic Bishops' Conference of the Philippines? From the mouth of Makabayan members bloc? From the mouth of the likes of Atty. Hilario G. Davide Jr. and Atty. Christian Monsod? Please share your source to back those sources!

For a start, they need to answer why Communist Vietnam has become the more ideal place for FDI (read here). Vietnam doesn't look like the ideal place to invest because it's under a One-Party State. The faces of Karl Marx and Vladimir Lenin are placed in several public areas. Vietnam has the Communist flag flying around. However, Vietnam has more FDI inflows than the Philippines. What's ignored or not noticed, is that the Constitution of Vietnam (which may be their Communist manifesto) is pretty silent on economic restrictions. Rising protectionism (such as tariffs) should only be done in legislation, or in times when the economy is overheating. However, the Philippines' problem is that it has excessive restrictions placed in the Constitution. It doesn't become easy to adjust economic restrictions when needed, because it's already in the "sacred inviolalate text" of the 1987 Constitution of the Philippines.

Is To Lam really like Shizo Abe, for a start? To Lam became the new General Secretary (or chairman) of the Communist Party of Vietnam. To Lam had that controversial scandal where he ate a gold-covered steak, right after he laid flowers on Marx's grave. I confess that I still laugh thinking about To Lam's steak scandal. It's because To Lam ate that gold steak while Vietnam has food security, unlike Venezuela. Vietnam's not really squeaky clean with corruption. However, I must admire Vietnam's Doi Moi, something that economic neanderthals fail or refuse to understand. 

On the side of FDI, the real problem isn't corruption or whether the one in power is from a political dynasty. It's the 60-40 economic provision. Sure, one can blame corruption. Just think that on April 29, 1960, the late Carlos P. Garcia (infamous for his Filipino First Policy) launched an anti-corruption campaign. Garcia lost the reelection bid to the late Diosdado Macapagal. Some might quote the late Alejandro Lichauco (who I heard is Sen. Maria Theresa "Risa" Hontiveros-Baraquel's uncle by marriage) but did the Philippines really become an Asian Tiger at that time? What's also ignored is that the first Marcos administration was marred not just by corruption, but also by economic protectionism.

We can blame corrupt officials for lack of FDI, but in this angle. Corrupt politicians may still be adhering to Filipino First Policy, to further their power. What's ironic is that Communist Vietnam, which is ruled by a One-Party State, actually allows more FDI to flow. One's a democracy but why is it overly restrictive with FDI. The other is a dictatorship that ironically allows more FDI. I can blame corruption for a lack of investment, but only when corrupt officials continue to allow Filipino First Policy, to flourish. 

Labels:

Popular posts from this blog

The Tragic Windfall of the Late Flor Contemplacion's Family

PEH.ph Last year, I wrote an article talking about Flor Contemplacion crybabies spreading fake news for 30 years . I noticed that the movie could be watched for free on YouTube (which is one hour and 52 minutes long), and the one that you had to pay for via rent or personal soft copy ( which is two hours and two minutes long). I was looking into the film and realized the "for free" version lacks the exaggerated water dunking and electrocution torture scene, which I believe is available, which is a ten-minute difference. I remember seeing the old version where Flor was tortured by Singaporean police via water dunking and electrocution, to get an answer out of her. The famous line by the late Nora Aunor was, "I did not kill anybody!" It's 31 years, and I don't expect the fake news about Flor to stop just because  it's past 30. No, fake news is that hard to kill even in the digital age. It reminds me of the fate of Flor's sons , where one of them, Sandr...
Read more

Has Passing Down Hatred for Singapore (Because of Flor Contemplacion) Economically Helped the Philippines?

PEH.ph It was on March 17, 1995, when Flor Contemplacion was executed in Singapore. I've noticed that I've been addressing her as the late many times, even if the late is a statement that may be ony appropriate if the person has been recently deceased within 10 years. It's about to become 30 years since Flor was hanged in Singapore. However, generational hatred would've been passed down from 1995 up to 2025. Some people are still tagging #JusticeFor Flor. These traits may be passed down from the Batang 1990s to their children in this generation. It may also be passed down from parent to child, even if the child was born in the 2000s to 2010s. Somebody born in 2000s and beyond might even say, "Papa and mama told me about Flor Contemplacion! That's why I hate Singapore!" Talk about a child born in 2004 who's probably angry with Singapore, because his parents kept telling him about how Flor was supposedly "unjustly treated" over there.  Some tim...
Read more

It's A Myth: First World Countries Self-Industrialized and Only Opened to FDI, After They Succeeded

The Straits Times As the battle for economic charter change goes on, another lie often spread: "First world countries, first industrialized by themselves, before they opened their economy to FDI." I'm seeing it ironically on Facebook. I tell them, "If you hate foreigners so much, why don't you get out of the Internet?" Some of them give replies like, "We're not hypocrites for badmouthing FDI on Facebook. We're simply forced to use imported equipment because foreigners unfairly own the means of production (read rebuttal here )." When I ask for their sources, they give sources like people from Bayan Muna (Nation First), the League of Filipino Students, the IBON Foundation, Kabataan Partylist (Youth Partylist), the Alliance of Concerned Teachers (ACT), and maybe even the Catholic Bishops' Conference of the Philippines (CBCP). Most of these sources (not all) are the favorite sources of those going against badly needed economic cha-cha.  I...
Read more

Why FDIs are Choosing COMMUNIST Vietnam Over DEMOCRATIC Philippines

China Daily HK Tomorrow is Ho Chi Minh's birthday. I would like to raise another FDI issue between democratic Philippines and Communist Vietnam. I remember with a certain woman I'll call Miss Clueless, to respect her privacy. Miss Clueless probably never saw a map, called FDI as Favored Duterte-China Investments, and I told her the bigger problem with the constitutional restrictions. Miss Clueless kept talking about that the late Benigno Simeon "Noynoy" C. Aquino III made us a tiger economy, regardless. However, I wrote that relying too much on Noynoy's economic legacy, is pretty much landing into the same fatal mistake that Nokia did . Relying on past successes is a surefire recipe for failure. As Miss Clueless blamed former president Rodrigo R. Duterte, the person still believes that people must change first before systems. I asked her, "Why are people choosing Communist Vietnam over the Philippines." The reason I heard from Miss Clueless was something...
Read more

Is Jollibee "Invading" South Korea Now as It's About to Acquire 70% of Shabu All Day?

I must confess that I find this new rather hilarious . It's because the word shabu is often associated with drugs. All the while, shabu shabu is a Korean delicacy! Well, I'm going to say that Jollibee Foods Corporation has now become a multinational buyer . Jollibee acquired 70% of Compost Coffee back in 2024 . This year, Jollibee as a multinational corporation is now acquiring Shabu All Day for PHP 5.1 billion pesos. Is Jollibee checkmating South Korea or is the Philippines conquering South Korea not just by OFWs but als through Jollibee? The answer is still no. From GMA News , we can read this article by Jon Viktor D. Cabuenas: Under the deal, Shabu All Day will be consolidated into Jollibee Foods Corp.’s (JFC) financial statements immediately upon completion of the acquisition for a total consideration equivalent to KRW127 billion. Completion of the transaction is subject to closing and financing conditions. The acquisition is expected to lead to a 2% jump in revenues, incre...
Read more