The Deceitful “Growth” of the Philippine Economy

The Deceitful “Growth” of the Philippine Economy

by Apolinario Villalobos

When President Pnoy Aquino made reports about the “phenomenal” growth of the Philippine economy under his administration, many shrugged their shoulders, as the latter believe otherwise in view of the very obvious poverty that scars the economic landscape, like a creeping amoeba. Pnoy sincerely believes the “truth” in the result of the surveys, which many times have been proven unrealistic, hence, unbelievable. Development should result to fair and real benefits for the appropriate parties. So, whether the Filipinos are, indeed, benefiting from these foreign investments in the country or not, still remains a big question that Pnoy should answer – truthfully.

The Filipino industry is dead long ago, when the country joined the global commerce that enslaved it to one-sided provisions due to quotas involved, favoring giant industrial nations. The Philippines has become the dumping ground of cheap products, especially, those from China and the United States, and woefully, even garbage from Canada! Not even the agriculture industry is spared, as rice and corn fields gave way to subdivisions and business centers. The forests are exploited by loggers financed by foreigners, and so are the mining areas. Manufacturing in the country has become the exclusive venture of foreign investors with Filipinos slaving it out along the length of the assembly lines, and tied to 5-month contract for a measly wage.

The volume and the gross monetary returns of these investments get reported, but the details of the “real profit” are not, because they are hauled back to the countries of the foreign investors. Meanwhile, the only tangible and direct benefit from contractual employment which is the measly wage, is what’s left to Filipinos!…yet, the President Pnoy has the courage to report that the country under his administration has “moved forward” on his “tuwid na daan” (straight path), and that poverty has been decreased!…and very proudly at that!

Pnoy Aquino should stop warbling about “developments” under his term, so that he will not be overwhelmed with criticisms, as he is just basing his claims on questionable survey results. He should not worry, because presidents who preceded him are equally guilty. Just like him, they forgot that the Philippines, is first and foremost, an agricultural nation, yet, this particular segment of the economy was woefully neglected. Instead of preserving what remained of the dastardly exploited natural resources since the American regime, these are left to be further exploited not only by corrupt government officials but by foreign financiers through their dummies, as well.

Public lands were sold, supposedly for their revenue to be used in upgrading government facilities, such as those in the Armed Forces, but nothing happened of it. So, today, the archipelagic Philippines is a miserable sight in the eyes of other nations due to her Navy’s rusty and outmoded ships; the Army’s doleful and inadequate arms and ammunitions; and, the Air Force’s shabby picture with its rickety aircrafts. There are reports that acquisitions have been made…but similar reports were made many years ago…and, remained as just reports.

By the way, though known to be a dictator, Ferdinand Marcos , at the early part of his first term as president, was honest enough to admit the sorry state of the nation with its deteriorating economy. Nobody among the rest of the presidents, including Quezon, the Commonwealth president had the courage to do it.

The situation today is worsened by the obvious cover-up of what are really happening, a gross act of dishonesty. Meanwhile, the country still wallows in the corrupted government system that benefits only a few.