Shaun T. Dy's Business & Economics Perspective Blog

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...

Having sea crab yesterday or just eating crab, I always think of that old commercial in the 1990s. It was called, "Iwasan ang crab mentality." or "Avoid crab mentality." This makes me recall a scene when I was a child. I saw a pail full of mud crabs (called alimango in Filipino) and if one crab got out, the others pulled it down. The TV commercial showed how if the crabs got together, they could all escape their grizzly fate of becoming eaten for human consumption. Chefs are just lucky crabs pull each other down. However, it also shows that the crabs would rather all be cooked together than let that crab escape.  Unfortunately, crab mentality is one of the biggest problems in the Philippines. It's not all that unique among Filipinos. However, it doesn't Filipinos should ever take comfort in engaging in a crab mentality, just because other people do it . Here's an interesting excerpt from Inquirer   by Jerry Peres de Tagle PhD: Studies in human behavior ...

The Philippine senatorial elections are on, right? One of the many things candidates (regardless of party) need to hold is the need for economic reform. As  I continue discussing economic charter change, several objections are held. One of the objections is allowing 100% FDI--a subject often subjected to mockery. These mockeries can range from promoting colonial mentality, selling the Filipino to foreigners, borrowing money from abroad (which is definitely not investment, read here ), or even the ridiculous notion that FDI includes Filipino women dating foreigners (read here ). This time, I would like to address another hypocrisy. This time, it's all about Filipinos who rejoice that Filipino businesses are investing with 100% FDI ownership. All the while, this is crying foul when there's a law passed that will allow foreigners to own 100% FDI ownership , in the Philippines. This is a meme to expose the hypocrisy. Jollibee has 158 branches in Vietnam, which I assume happened bec...

Discussing international marketing or world economics with boomer Filipinos can be painful. Some people still believe in the Filipino First Policy. I cite Vietnam as an example of why economic charter change (called econ cha cha) should be done. Some people cite that Vietnam's increase in FDI is because of the fight against corruption. I don't deny Vietnam has a crackdown on corruption. I don't deny that fighting against corruption helps the economy. However, fighting corruption without the proper tools and not having economic development, is useless. Fighting corruption isn't a panacea or cure-all either.  Spanking is part of child discipline, not the whole of child discipline. People who only spank but never teach right and wrong, render spanking ineffective . Instead, look at Vietnam's economic policy vs. the Philippines' economic policy. Some people blame the following for the Philippines' lack of foreign investments, some things Vietnam also suffers fr...

Happy New Year, right? There's this statement in Cebuano that says, "Sa Disyembre nag lipay-lipay. Sa Enero, naglikay-likay." For non-Cebuano speakers, it means, "Enjoying all December. Fleeing in January." It's because of the bad habits that are common during the Christmas season. I wrote an entry talking about when a Merry Christmas leads to an Unhappy New Year . After Christmas vacation, it can be common to talk about New Year's Resolutions. Sadly, there are resolutions meant to be broken or resolutions on paper only. Several people finish high school, go to college, get a job, but never gain the necessary knowledge of economics and finances. Instead, they continue to live the same habits year after year. Even worse, the same foolish behavioral patterns get passed down f rom parent to child to grandchild. Still stuck with financial habits that put one in a financial dodo The New Year starts and it can get funny. I tend to hate December because of the ...

Manuel L. Quezon III"s Twitter Account Foolish people on Facebook say the dumbest things. I looked into the Freedom for Economic Foundation Facebook page . I keep finding idiotic comments written by mostly baby boomers (1946-1964). It's really that stupid that some people never learned even during the COVID-19 pandemic that protectionism doesn't work! As always, I wouldn't give them clout. Instead, I will give an idea how the comments were written.  Somebody said something like this, "It's best to think about how to stop the thieves in the government. Not that economic charter change that's in favor of the thieves in the government." I'm not going to shame the person here to avoid getting personal. Where do these people who say such get their source? Would it be from the Catholic Bishops Conference in the Philippines (CBCP) which is ironically part of a multinational organization? Would it be from people in Bayan Muna like Atty. Neri Colmenares an...

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...