The Philippines has several characteristics that has helped alleviate the trade industry's massive deficit. What do you think the government should do to address this deficit? Let us know down below!
Its okay Philippines not so industrialized unlike other countries. Mas napapangalagaan naman kalikasan. Pag madami ang heavy industries dito, tiyak puro pollution abutin ng pinas. Philippines should focus on light industry, IT-related business and Services. Mas okay yon, mapapanatili ang ganda ng bansa. Magaganda ang mga beaches and madaming tourist sites. Yon na lang. Kesa masira kalikasan ng pinas.
Thank you for covering this topic. Corruption in the Philippines is immense. You even need to pay bribes to the immigration officers if you want to leave the country! I feel very sad. It has a lot of potential but corruption is so ingrained in the culture that it has become more or less acceptable.
corruption even vatican have corruption,3.4 billion us dollar lost in one bank the imbh bank in malaysia embezzled by the prime minister,thailand prime minister cannot go home because of corruption,,your immigration officers is cent compare to these people,if US dont have corruption, why they spent billions of dollar for aircraft carriers while thousands of people sleep in the tents with out foods is that a form of corruption
You need to bribe everybody in the Philippines. I went to pay my taxes once, and bribed the Mayor of the town to accept a significantly lower amount. Had to register my house purchase and was told it would take 2 months to finish all the documentation. Paid P2000 pesos and watched as the papers were walked around the BIR office and signed by all relevant people. It took 15 minutes to get it done. You can kill one person at a time and never go to jail if you know how to bribe cops and pay off the family. Costs about 4000 dollars or so (depends on exchange rate) and nothing will happen. I could go on and on about this subject.
The elections is where it starts. Votes go for as high as 10k peso or about 200 us. This puts the highest bidder into office and sets the stage for the bribes to continue. However to leave the country the exit fee is legit.
I ran a few businesses in the Philippines for about 5 years. The level of corruption in all aspects of society makes the country virtually unmarketable to western countries. Many US companies won't even sell to Philippine owned business because they don't trust them. You cannot function at all without dealing with bribes and corruption at every level and it adds huge costs to your business. And the efforts to rip off foreign owned or controlled businesses is rampant in comparison to local owned businesses. I love the place and wish it would change as I never wanted to leave but political corruption destroyed the economy when I was there and I had to get out because crime against foreigners goes through the roof when the economy gets bad.
It's actually easy for the local businessmen to rip off the gov't. I know of an independent pharmacy that earns around 40k pesos a day but pays 800 pesos in taxes a month. 😂 don't bother starting a business here if you're foreign. Just sell on Amazon or something while living in pH
It depends where or which local government unit you will put your investments or business. We have a lot of progressive cities and municipalities to chosse from who are aggressive in implementing laws to ease doing business. We have a lot of law passed to ensure the ease of doing business in the country and anti graft and corruption law like the anti red tape law is just one of it. You should have reported it if you have concerns about business. As far as I know the economy is growing and business environment in the country has gained alot of confidence. Our laws does not allow one hundred percent foreign ownership of businesses and land. That is to secure the country from external manipulation and intervention just like what happened to Russia when the west weaponized foreign businesses through economic sanctions to hurt the country and to avoid social upheaval. We all know that Philippines was colonized by different countries before and after independence we have gained a National Pride. We are more open to Investors with Filipino partners or people with Filipino blood and values or companies run by people with Filipino blood and values.
Corruption starts at the very top. So sad.. And lawmakers are now starting to change the Constitution for their own benefit. Term extensions, they want.
@@Makaandog7804 ease of doing business... really? How many permits do u need to start a business and how much do you need to pay? If you know people, yeah, probably.. Pay the corrupt government first before you can earn.. even if you are not earning, still need to pay them.. Now even the poor has to suffer with the high cost of basic goods..
@@inhquan9495 it's also actually very easy to start a small business here selling whatever and become wealthy because of our robust domestic spending. It's just that most Filipinos have a flea market mentality that's why only the Chinese become rich here.
Filipinos usually like import goods rather than local foods. govt should support manufacturers instead of supporting importers. CORRUPTION is also a big factor because many govt officials are involved in importation. ONION.......
Monopolistic economy happen in our country in the likes of Ayala, and many more happen because Filipino politicians allowed this in support to their greed in power and money. Corruption is so rampant and no support to local industries.
Even when you remove the middlemen, the requirements they demand to OFWS just to get out of the country is ridiculous. Immigration will offload you when you dont have the papers they ask. Corruption is rampant, it’s sickening!
@@IB4U2Cme a chicken sandwich at Jollibee 🐝 is around $4. That's practically first world level pricing. Yet the fastfood workers get minimum wage of $6 to $10 a day. That's how Jollibee 🐝 amasses $3 billion a year in sales. That's how gullible and braindead Filipinos are.
No Economic plan .No economic Foundation . Manufacturing is dead. We used to have INTEL manufacturing Chips in the in the 1980 to 2008 But We messed them up so they leave and Went to Malaysia and Vietnam. Our Leaders is our worse enemy
@@alice_agogo because the workers stole the gold component of chips. that is why they left. there is a mafia inside the company. why blame the president?
Phil. exports a lot of people and its remittances make up for the trade deficit or at least reduces it. She can never be an export product surplus nation because she embraces the neo liberal economic doctrines instilled on her resulting in a high economic overhead.
Mey advantage din naman di tau export oriented. Pag export oriented tau, madami heavy industries. Sigurado puro pollution abutin ng pinas. Concentrate na lang pinas sa light industries, IT related industries, Services like BPOs. Mapapanatili ang kagandahan ng pinas. Magaganda ang mga beaches, maganda mga kabundukan. The best tourist destination. Keysa naman madami tau iniexport, sira naman kapaligiran. We should focus more on less destructive industries. Hayaan mo na iyong ibang bansa sa nakakasulasok na heavy industries nila. Panget naman mga bansa nila. Dito sa pinas, laging fresh.
Learn from China and stop trying to be so American. Philipine can't afford that and a good reason why corruption is such a big problem. Me first, country last.
Are you kidding me, we have zero goods to export except human slaves we called OFW! Ang bagong bayani as they called...we sell educated, well trained human slaves that's it! Shame on you Government!!!
What you called our bananA? Industry aydol? At saka durian marami d2 sa ibng bansa yan at coconut oil marmi d2 made in philippine, at kitchup made in philippine dont say zero. Mayrun din tayo fish tulad ng TUNA at iba png seafoods.. search muna aydol bago ung negative mind
@@CityWaLk4u I can buy pansit canton, sardines, dried mango, banana chips,virgin coconut oil,monggo beans,dried squid, dried fish, noodles ,different types of chichirya especially flavour na bawang made by monde, skyflakes, soy sauce, can pineapple, banana ketchup. All this stuffs I can buy it abroad..
di naman ganun ka bad kung di ganun kadami iniexport naten. kung madami tau iniexport, madami taung itatayo na heavy industries. sira ang kapaligiran, tulad ng mga industrialized countries, sobra ang pollution. concentrate na lang mga pinoy sa IT development, Research, light industries, services like BPOs and exporting human slave/s. Ganun lang talaga. At least maganda bansa naten. Hindi ganun ka polluted.
That's why it's a bad thing Philippines bringing US air base(s) back to the Philippines. They need to work with China to develop their infrastructures and export more to China.
@@norielfajardo6940 are you saying Philippines don't want to lift it's people out of poverty? Oh, I got what you meant. The leaders of Philippines are only doing it for their own financial interest. You nailed it!
remittances is not part of the country economic. we should not confuse the wealth of people with the wealth of nation. the fact that the people had to work in other country means domestic economy can't support them, it not a good thing as it represent and outflow of talent.
you cannot totally say there is trade deficit because OFW's bring more dollars to the economy. the reason the country import more products than it exports because of the OFWs money that it sends to relatives who in return spends it by buying imported products. majority of products like electronics, cars, foods and oil which all these products are bought mostly by OFWs money....but OFWs bring more money (in dollars) to the economy.
Philippines need refined more raw material to at least half baked material first then finised product ban raw minerals like Indonesia in next years added value price increasing in export
That's how Singapore actually got rich. They bought raw oil from Malaysia and Indonesia, refined it and sold it back to those countries. 😂 Japan 🇯🇵 🗾 also. They buy raw materials and turn them into cars and electronics.
philippines need not aspire to be more on exports. we have other revenue streams which we are doing good. less exports means less factories built. less pollution. less damage to the environment. we are doing in services, light industries, research and IT related industries. besides, we do good exporting slave/s not goods. it is okay. philippines can maintain its pristine beaches and world reknown tourist spots. we export more, we destroy more.
Too much export means too much manufacturing and industrialization, they have huge impacts on the environment just like in china and india where air pollution and natural resources are being depleted. Due to the shift of manufacturing center from west to east, more and more asian countries are suffering from environmental degradation. Besides, labor export is what Philippines is good at. Labor is sustainable, natural resources isn’t. Capitalism is responsible for the destruction of the environment because capitalism is based on growth. It only pursues profit and capital accumulation, in exchange, it exploits nature and destroys the entire ecological environment.
@@danang324I agree. It’s not easy to escape capitalism since the system is already deeply embedded. All I’m saying is the upside of having low manufacturing in a country considering that there are other elements in the economy that could bridge the gap to arrive at a sustainable balance of payments. In the end, capitalism is not sustainable. It is logically impossible without exceeding the limits of the ecosystem.
increasing the import duties or taxes. so that imported products will become expensive and less attractive to local consumers. they in turn will shift to local produced products
the problem with that is some products locally produced require imported parts or are dependent on imported ingredients so you will also increase the cost of local products. the better way is to instill to the Filipino mindset of buying local products.
It seems a great idea. But most of our local products produce is processed food. We don't have high-technology manufacturing to fill the demand for online businesses. We don't have great local free trade.
@@JL-tm3rc true. It is made by us but owned by foreign companies. for example Intel. I never heard of a Filipino have owned a company building high-tech gadgets and exporting them yet.
But reading material almost always points the Philippines economic forecast will be the best in ASIA. How can that be u're painting a frosty outcome ? Then out all the reasons it's going south. Didn't the economic planning unit of the Philippines foreseen any of this happening ?
That's only because Filipinos now have desires. When I was young ofws went abroad to have their house repaired, send their kids to school, etc.., now they do so because they want to a giant TV 📟, Nike shoes, a car, an iPhone, a condo, etc., our GDP is is actually 70% domestic consumption. Filipinos shouldn't actually worry about politics and what not. They should worry about the coming robot revolution that will take their jobs away.
because two things can be true at the same time. we have less exports. but we do have many other revenue streams. it is not that bad. if we export more, we need to build more factories. more pollution. environment is destroyed. philippines is doing good in other aspects. and it is much better that putting up so many heavy industries to increase our exports. we should just concentrate on things which philippines do best. services, light industries, research and IT related industries.
You can also ask for the price of rice, salt, sugar, eggs, etc. All the basic goods.. You may wanna know who the head of the Department of Agriculture is..
@@alice_agogo whoever are the smuggling already made a killing. High demand during the Holidays. Law of supply n demand. Philippine farmers are hit the hardest coz the government prefer to import. What about rice, it increased again this week..
Now Ph bought a lot of weapons from USA - very expensive - and will buy more and more - this is future problem - how to pay for it - and 2nd side industrial product from China - now Ph import rice - in future coconuts :)
A nice video to look at is a conversation with Jordan Peterson and Wade. It's about a woman from Africa and how she did succeed in life. Facing big problems in here home country to prosper but when coming to Europe she could make her dreams come true!!! I find this one of the best videos I ever saw!!!! Just take a look and share your view about it.
The PH is a failed state: failed political system, economy, culture, and people. I fully expect it to become the basketcase of Asia. Most of Asia is going to grow and improve, in 2030 or so we'll look around and PH will be so far behind it will be like Africa compared to these other countries.
It won't. Low salaries are the reason why foreign investors choose Vietnam. And foreign ownership will cause real estate to skyrocket. Millions of Pinoys will become homeless. Just look at Canada. Chinese 🇨🇳 are buying their properties in droves but not actually living there. Many Canadians now can't afford to buy homes in their own country.
@@alice_agogoI believe the OP is referring to business properties not homes. Regarding Canada, many US citizens are buying homes as a vacation property as well. The Canada will have added taxes for non residents to own properties. I live in San Francisco, can you explain why so many can’t afford to buy and homeless, is it the Chinese?
We all know that the world in the nineties turned to China for cheap labor for manufacturing so all global companies relocated to china there that why all this multinational companies left the country. So the Phlippines looked for other income generation like Agro-industry manufacturing, labor export, retail, real estate, construction, tourism and BPO industries and encouraged small medium enterprises to multiply. These are the reason why we are a strong service and consumption base economy. Now after after the Pandemic and multinational companies are leaving China the government has change its strategy and start attracting again foreign investors in manufacturing by passing laws that willput an end to some economic restrictions that will make it easier to do business in the country of foreign investors.
Can't blame Everything on China when Vietnam is Becoming a Manufacturing and Industrial Powerhouse During China's Rise. Admit it, The Philippines has no hope.
Philippines needs to follow what vietnam did to bring in foreign investors. Many of large companies like Apple and Samsung manufacture products in Vietnam. How fid we miss this?
@@silentwatcher1455 Their labor is not cheaper. The yearly income in Vietnam is several hundreds American dollars more than in the Philippines. What Vietnam has better than your country is better infrastructure country wide that's new and modern, especially in the northern part around the Hanoi regions where they completed a lot of new expressways. Development in Vietnam is widespread whereas in the Philippines, it;s mostly in metro Manila. Plus, Vietnam has set their sights on AI and hi tech fields for years with a national plan, have a highly educated young workforce. They also have a more favorable geography connected to China and have the most free trade agreements with the West and Asian countries than any other ASEAN country. Additionally, they have safety and political stability. Why would a company risk hundreds of millions or billions investing in a country that's not politically stable now and in the future?
Philipines need to import rice and all foods comsumption every year. If world wide disastrous happen to countries of food producer may effect serious to Philipines toward femine.
Visited , Talked , Discuss trade , etc in the 2000. Already .... Corruption across ALL levels of govn are evident. That goes for local business too. In the END ..the RISk was too great for the REWARDS expected. When to other countries in Asia in the end for Factory production.
Actually, yeah. Ofw money is the reason for inflation. It's unproductive money. $30 billion a year and only really the malls, jollibee, private schools, resorts, etc., benefit from it. Whereas the bpo industry at least directly employs 1 million people. A usual mall will only have 2000 workers or so whether ofws send 30 billion or 50 billion. Malls will not add 500,000 more workers for every $10 billion increase in remittances.
Philippine economy is very weak, they can't even produce enough onions, rice, sugar, steel, plastics for domestic demand. The infrastructure is terrible and inefficiencies in business are systemic. Bottom line the corruption there is crippling that place.
Philippines also exports OFW's. LOL. Those OFW's relative in the Philippines have expensive taste. Whenever I visit the Philippines in the airport alone. I've never seen so many LV bags. They love to wear Air Jordans. they love the materialistic things. Thats were your trade deficit is coming from. As long as those OFW's keep sending remittance they are gonna be okay.
Philippines has changed its foreign investment policy under R.A. 11659 that some of its public sectors like telecommunications, Airports, railways, shipping and expressways can now be owned 100% by foreigners and also there are coming 194 infrastructures to be made under the Marcos administration that will help boost the economy.
@@alice_agogo Oo naniwala talaga ako dahil nakikita ko namang pinagpapatuloy yung Build3x ng Duterte administration hindi tulad ng lutang na ina nyong si Leni na gustong ipatigil ang imprastraktura ng bansa.
As long as China allows slave labor wages, other countries like the Philippines will be better off importing consumer goods that are bound to cost higher if manufactured locally. For now, it's best to concentrate on manufacturing high-value niche products that China doesn't and can't produce, like computer chips, for one.
Are you living under a rock? The Chinese slave laborers you say are either commuting thru an efficient, punctual, comfortable and highspeed trains or driving their own electric cars with signature clothing to match. While they put more value on STEM courses, we are more excited to be beauty queens, actors, comedians in preparation for a political career..
Minerals like nickel, copper, iron ore. Agri marine products like bananas, pineapple, tuna. Clothes, office supplies. Electrical circuits and parts, among others.
Philippines is a failed state. Its economic backbone is very weak. Poor infrastructure, high electricity cost, frequent natural disasters, corruption everywhere. Its people work overseas because no decent jobs available for them. The government failed them. Politicians come and go in the Philippines and during their term, they work double time to amass wealth before they exit. Philippines will be forever poor. Now, I’d love to hear ‘Proud to be Pinoy!’
The Philippines has several characteristics that has helped alleviate the trade industry's massive deficit. What do you think the government should do to address this deficit? Let us know down below!
Relook at the labour, investment and tax policies.
Maybe they should reduce holidays and electricity bill for the sake of more investors.
Its okay Philippines not so industrialized unlike other countries. Mas napapangalagaan naman kalikasan. Pag madami ang heavy industries dito, tiyak puro pollution abutin ng pinas. Philippines should focus on light industry, IT-related business and Services. Mas okay yon, mapapanatili ang ganda ng bansa. Magaganda ang mga beaches and madaming tourist sites. Yon na lang. Kesa masira kalikasan ng pinas.
It can’t be as bad as China’s current export declining at a massive rate. China wants to criticize other countries, but they have even worse issues.
@@srebaayao9616 lol
Thank you for covering this topic. Corruption in the Philippines is immense. You even need to pay bribes to the immigration officers if you want to leave the country! I feel very sad. It has a lot of potential but corruption is so ingrained in the culture that it has become more or less acceptable.
corruption even vatican have corruption,3.4 billion us dollar lost in one bank the imbh bank in malaysia embezzled by the prime minister,thailand prime minister cannot go home because of corruption,,your immigration officers is cent compare to these people,if US dont have corruption, why they spent billions of dollar for aircraft carriers while thousands of people sleep in the tents with out foods is that a form of corruption
You need to bribe everybody in the Philippines. I went to pay my taxes once, and bribed the Mayor of the town to accept a significantly lower amount. Had to register my house purchase and was told it would take 2 months to finish all the documentation. Paid P2000 pesos and watched as the papers were walked around the BIR office and signed by all relevant people. It took 15 minutes to get it done. You can kill one person at a time and never go to jail if you know how to bribe cops and pay off the family. Costs about 4000 dollars or so (depends on exchange rate) and nothing will happen. I could go on and on about this subject.
The elections is where it starts. Votes go for as high as 10k peso or about 200 us. This puts the highest bidder into office and sets the stage for the bribes to continue. However to leave the country the exit fee is legit.
@@tommyquia our ex Malaysian PM is sentenced for 12 years in prison starting in Aug 2022.
I ran a few businesses in the Philippines for about 5 years. The level of corruption in all aspects of society makes the country virtually unmarketable to western countries. Many US companies won't even sell to Philippine owned business because they don't trust them. You cannot function at all without dealing with bribes and corruption at every level and it adds huge costs to your business. And the efforts to rip off foreign owned or controlled businesses is rampant in comparison to local owned businesses. I love the place and wish it would change as I never wanted to leave but political corruption destroyed the economy when I was there and I had to get out because crime against foreigners goes through the roof when the economy gets bad.
It's actually easy for the local businessmen to rip off the gov't. I know of an independent pharmacy that earns around 40k pesos a day but pays 800 pesos in taxes a month. 😂 don't bother starting a business here if you're foreign. Just sell on Amazon or something while living in pH
Very true
It depends where or which local government unit you will put your investments or business. We have a lot of progressive cities and municipalities to chosse from who are aggressive in implementing laws to ease doing business. We have a lot of law passed to ensure the ease of doing business in the country and anti graft and corruption law like the anti red tape law is just one of it. You should have reported it if you have concerns about business. As far as I know the economy is growing and business environment in the country has gained alot of confidence. Our laws does not allow one hundred percent foreign ownership of businesses and land. That is to secure the country from external manipulation and intervention just like what happened to Russia when the west weaponized foreign businesses through economic sanctions to hurt the country and to avoid social upheaval. We all know that Philippines was colonized by different countries before and after independence we have gained a National Pride. We are more open to Investors with Filipino partners or people with Filipino blood and values or companies run by people with Filipino blood and values.
Corruption starts at the very top. So sad.. And lawmakers are now starting to change the Constitution for their own benefit. Term extensions, they want.
@@Makaandog7804 ease of doing business... really? How many permits do u need to start a business and how much do you need to pay? If you know people, yeah, probably.. Pay the corrupt government first before you can earn.. even if you are not earning, still need to pay them.. Now even the poor has to suffer with the high cost of basic goods..
Nhập khẩu nhiều hơn xuất thì giá cả và lạm phát cao lắm. Nhất là các mặt hàng thiết yếu như xăng dầu, thực phẩm cơ bản .
Nhưng ngược lại vài triệu người phi lao động nước ngoài gửi kiều hối hàng năm khoảng 30 tỷ đô cũng là đáng nể.
@@inhquan9495 it's also actually very easy to start a small business here selling whatever and become wealthy because of our robust domestic spending. It's just that most Filipinos have a flea market mentality that's why only the Chinese become rich here.
We dont have enough oil
Corruption is the major problem. People in government failed its people by enriching themselves..
Well has it increased compared to twenty years before.
@rajeshvk6638 Yes, the corruption increased. 👏
@@zeusmaryusep not really. For decades Japan 🇯🇵 🗾 had been our biggest export market.
@@zeusmaryusep it's not. Currency is irrelevant. Trade can be done with chicken bones and pebbles and pH still won't be able to compete.
@@zeusmaryusep pH is land of the braindead so it is hopeless
Filipinos usually like import goods rather than local foods. govt should support manufacturers instead of supporting importers. CORRUPTION is also a big factor because many govt officials are involved in importation. ONION.......
No way. Corrupt Filipino farmers overcharge. I buy only cheap imports wholesale.
FARMERS OVERCHARCGE
Monopolistic economy happen in our country in the likes of Ayala, and many more happen because Filipino politicians allowed this in support to their greed in power and money. Corruption is so rampant and no support to local industries.
Government should assist the OFWs get work without giving away a chunk of their salaries in contracts to middelmen.
Civil engineers in this country are offered $238 in starting monthly salary. Why the hell should ofws recieve special treatment?
@@alice_agogo I did not know that. Yet OFWs seem to pay to much for their work contracts.
Even when you remove the middlemen, the requirements they demand to OFWS just to get out of the country is ridiculous. Immigration will offload you when you dont have the papers they ask. Corruption is rampant, it’s sickening!
@@IB4U2Cme a chicken sandwich at Jollibee 🐝 is around $4. That's practically first world level pricing. Yet the fastfood workers get minimum wage of $6 to $10 a day. That's how Jollibee 🐝 amasses $3 billion a year in sales. That's how gullible and braindead Filipinos are.
It was so sad that Philippines is only service export economy. Philippines should prioritized local farmers to improve businesses and production
There's no land to farm..more like vertical or greenhouse or tents but it needs a high capital and expertise
The trouble is the farmers are taken advantage of by the big business owners and get nothing
@@packohub1145 the farmers are taken advantage
Being prone to typhoons Philippines can't really depend on farming.
No Economic plan .No economic
Foundation . Manufacturing is dead.
We used to have INTEL manufacturing
Chips in the in the 1980 to 2008 But
We messed them up so they leave and
Went to Malaysia and Vietnam. Our
Leaders is our worse enemy
Intel left in 2008
first industry is corruption
@@alice_agogo because the workers stole the gold component of chips. that is why they left. there is a mafia inside the company. why blame the president?
@@alice_agogo thank you for the correction
yes so true
Phil. exports a lot of people and its remittances make up for the trade deficit or at least reduces it. She can never be an export product surplus nation because she embraces the neo liberal economic doctrines instilled on her resulting in a high economic overhead.
Mey advantage din naman di tau export oriented. Pag export oriented tau, madami heavy industries. Sigurado puro pollution abutin ng pinas. Concentrate na lang pinas sa light industries, IT related industries, Services like BPOs. Mapapanatili ang kagandahan ng pinas. Magaganda ang mga beaches, maganda mga kabundukan. The best tourist destination. Keysa naman madami tau iniexport, sira naman kapaligiran. We should focus more on less destructive industries. Hayaan mo na iyong ibang bansa sa nakakasulasok na heavy industries nila. Panget naman mga bansa nila. Dito sa pinas, laging fresh.
@@srebaayao9616 😅
@sreb aayao in other words Philippines is a failed state rest assured that it will be like some poor countries in Africa
Too muchhh bureaucracy. I hope bbm address d problem.
And corruption .
Not gonna happen. Most Pinoys have no sense of morals. Most have no shame in asking, borrowing, stealing.
same, i didn't vote for him but because he won I wish his administration would do what it takes
how could Philippines export when some of its products are not enough for its citizen
Learn from China and stop trying to be so American. Philipine can't afford that and a good reason why corruption is such a big problem. Me first, country last.
make more?? get off your arse.
The only thing Phillipines economics do best is provide their country as a military base.
Yes because of China's idiotic claims in the wps.
And supply prostitutes for the gringo soldiers.
Hahaha not really but on corruption as well
Are you kidding me, we have zero goods to export except human slaves we called OFW! Ang bagong bayani as they called...we sell educated, well trained human slaves that's it! Shame on you Government!!!
What you called our bananA? Industry aydol? At saka durian marami d2 sa ibng bansa yan at coconut oil marmi d2 made in philippine, at kitchup made in philippine dont say zero. Mayrun din tayo fish tulad ng TUNA at iba png seafoods.. search muna aydol bago ung negative mind
@@CityWaLk4u I can buy pansit canton, sardines, dried mango, banana chips,virgin coconut oil,monggo beans,dried squid, dried fish, noodles ,different types of chichirya especially flavour na bawang made by monde, skyflakes, soy sauce, can pineapple, banana ketchup. All this stuffs I can buy it abroad..
di naman ganun ka bad kung di ganun kadami iniexport naten. kung madami tau iniexport, madami taung itatayo na heavy industries. sira ang kapaligiran, tulad ng mga industrialized countries, sobra ang pollution. concentrate na lang mga pinoy sa IT development, Research, light industries, services like BPOs and exporting human slave/s. Ganun lang talaga. At least maganda bansa naten. Hindi ganun ka polluted.
Question, if the world economy goes down, which of the 2 countries do you think would be the safest, USA or Philippines?
The safer country is the one whose population has the shortest distance to fall.
Your grandpa yhe US will forever look after you macos junior.
That's why it's a bad thing Philippines bringing US air base(s) back to the Philippines. They need to work with China to develop their infrastructures and export more to China.
the leaders of this country Philippines is not using its advantage to china Russia and MURIKA😂😢
@@norielfajardo6940 are you saying Philippines don't want to lift it's people out of poverty? Oh, I got what you meant. The leaders of Philippines are only doing it for their own financial interest. You nailed it!
Philippines is also weak in marketing. They don't go to customers instead they wait for customers.
remittances is not part of the country economic. we should not confuse the wealth of people with the wealth of nation. the fact that the people had to work in other country means domestic economy can't support them, it not a good thing as it represent and outflow of talent.
the people are part of the nation lol. The video are talking about the PH economy as a whole not just the gov.
you cannot totally say there is trade deficit because OFW's bring more dollars to the economy.
the reason the country import more products than it exports because of the OFWs money that it sends to relatives who in return spends it by buying imported products.
majority of products like electronics, cars, foods and oil which all these products are bought mostly by OFWs money....but OFWs bring more money (in dollars) to the economy.
Philippines need refined more raw material to at least half baked material first then finised product ban raw minerals like Indonesia in next years added value price increasing in export
Corruption is the problem.
That's how Singapore actually got rich. They bought raw oil from Malaysia and Indonesia, refined it and sold it back to those countries. 😂 Japan 🇯🇵 🗾 also. They buy raw materials and turn them into cars and electronics.
philippines need not aspire to be more on exports. we have other revenue streams which we are doing good. less exports means less factories built. less pollution. less damage to the environment. we are doing in services, light industries, research and IT related industries. besides, we do good exporting slave/s not goods. it is okay. philippines can maintain its pristine beaches and world reknown tourist spots. we export more, we destroy more.
@@srebaayao9616 yeah. We are exporting people.. import everything. More corruption.. no food security
Too much export means too much manufacturing and industrialization, they have huge impacts on the environment just like in china and india where air pollution and natural resources are being depleted. Due to the shift of manufacturing center from west to east, more and more asian countries are suffering from environmental degradation. Besides, labor export is what Philippines is good at. Labor is sustainable, natural resources isn’t. Capitalism is responsible for the destruction of the environment because capitalism is based on growth. It only pursues profit and capital accumulation, in exchange, it exploits nature and destroys the entire ecological environment.
Easy to say, but you cannot escape from capitalisme
@@danang324I agree. It’s not easy to escape capitalism since the system is already deeply embedded. All I’m saying is the upside of having low manufacturing in a country considering that there are other elements in the economy that could bridge the gap to arrive at a sustainable balance of payments. In the end, capitalism is not sustainable. It is logically impossible without exceeding the limits of the ecosystem.
Bcz your country there have nothing, thats why tour pples your country r still poor💩😆
Bcz your country there have nothing, thats why tour pples your country r still poor💩😆
increasing the import duties or taxes. so that imported products will become expensive and less attractive to local consumers. they in turn will shift to local produced products
the problem with that is some products locally produced require imported parts or are dependent on imported ingredients so you will also increase the cost of local products. the better way is to instill to the Filipino mindset of buying local products.
It seems a great idea. But most of our local products produce is processed food. We don't have high-technology manufacturing to fill the demand for online businesses. We don't have great local free trade.
@@bettacup8507 yes but those are for local consumption our top export are electronics and machinery
Well ist not better for the local farmers..
@@JL-tm3rc true. It is made by us but owned by foreign companies. for example Intel.
I never heard of a Filipino have owned a company building high-tech gadgets and exporting them yet.
But reading material almost always points the Philippines economic forecast will be the best in ASIA. How can that be u're painting a frosty outcome ? Then out all the reasons it's going south. Didn't the economic planning unit of the Philippines foreseen any of this happening ?
That's only because Filipinos now have desires. When I was young ofws went abroad to have their house repaired, send their kids to school, etc.., now they do so because they want to a giant TV 📟, Nike shoes, a car, an iPhone, a condo, etc., our GDP is is actually 70% domestic consumption. Filipinos shouldn't actually worry about politics and what not. They should worry about the coming robot revolution that will take their jobs away.
because two things can be true at the same time. we have less exports. but we do have many other revenue streams. it is not that bad. if we export more, we need to build more factories. more pollution. environment is destroyed. philippines is doing good in other aspects. and it is much better that putting up so many heavy industries to increase our exports. we should just concentrate on things which philippines do best. services, light industries, research and IT related industries.
Just wait and roll-over...😅
What is the price of onion in Phillipines??
You can also ask for the price of rice, salt, sugar, eggs, etc. All the basic goods.. You may wanna know who the head of the Department of Agriculture is..
Dropped to less than $3 per kilo now I think. It was around $15 or so last January
🎉🎉🎉
@@alice_agogo whoever are the smuggling already made a killing. High demand during the Holidays. Law of supply n demand. Philippine farmers are hit the hardest coz the government prefer to import. What about rice, it increased again this week..
@@Michael-fi4oj I hope so. I don't care about Pinoy farmers
Inflation is low and Process taxes are the revenue base.
Now Ph bought a lot of weapons from USA - very expensive - and will buy more and more - this is future problem - how to pay for it - and 2nd side industrial product from China - now Ph import rice - in future coconuts :)
With 38% of working age pop working overseas and sending in $$$ likely a wash
Onion , Sugar import more
A nice video to look at is a conversation with Jordan Peterson and Wade. It's about a woman from Africa and how she did succeed in life. Facing big problems in here home country to prosper but when coming to Europe she could make her dreams come true!!!
I find this one of the best videos I ever saw!!!! Just take a look and share your view about it.
The PH is a failed state: failed political system, economy, culture, and people. I fully expect it to become the basketcase of Asia. Most of Asia is going to grow and improve, in 2030 or so we'll look around and PH will be so far behind it will be like Africa compared to these other countries.
Correct. Just look at the track records of its government officials.
Make video on India export 🙏🙂
India export cross 750 billion dollar 🙂
Let them come and allow 100% foreign ownership it can mitigate trade deficit...
It won't. Low salaries are the reason why foreign investors choose Vietnam. And foreign ownership will cause real estate to skyrocket. Millions of Pinoys will become homeless. Just look at Canada. Chinese 🇨🇳 are buying their properties in droves but not actually living there. Many Canadians now can't afford to buy homes in their own country.
@@alice_agogoI believe the OP is referring to business properties not homes. Regarding Canada, many US citizens are buying homes as a vacation property as well. The Canada will have added taxes for non residents to own properties. I live in San Francisco, can you explain why so many can’t afford to buy and homeless, is it the Chinese?
We all know that the world in the nineties turned to China for cheap labor for manufacturing so all global companies relocated to china there that why all this multinational companies left the country. So the Phlippines looked for other income generation like Agro-industry manufacturing, labor export, retail, real estate, construction, tourism and BPO industries and encouraged small medium enterprises to multiply. These are the reason why we are a strong service and consumption base economy. Now after after the Pandemic and multinational companies are leaving China the government has change its strategy and start attracting again foreign investors in manufacturing by passing laws that willput an end to some economic restrictions that will make it easier to do business in the country of foreign investors.
Can't blame Everything on China when Vietnam is Becoming a Manufacturing and Industrial Powerhouse During China's Rise. Admit it, The Philippines has no hope.
Philippines needs to follow what vietnam did to bring in foreign investors. Many of large companies like Apple and Samsung manufacture products in Vietnam. How fid we miss this?
Its because their labour is cheaper than Philippines. Besides Vietnam is trying to produce many products as they can. Philippines doesnt do that.
And Apple is thinking of moving to India. We'll be at the mercy of foreign companies moving from country to country
@@silentwatcher1455 Their labor is not cheaper. The yearly income in Vietnam is several hundreds American dollars more than in the Philippines. What Vietnam has better than your country is better infrastructure country wide that's new and modern, especially in the northern part around the Hanoi regions where they completed a lot of new expressways.
Development in Vietnam is widespread whereas in the Philippines, it;s mostly in metro Manila. Plus, Vietnam has set their sights on AI and hi tech fields for years with a national plan, have a highly educated young workforce. They also have a more favorable geography connected to China and have the most free trade agreements with the West and Asian countries than any other ASEAN country. Additionally, they have safety and political stability. Why would a company risk hundreds of millions or billions investing in a country that's not politically stable now and in the future?
@@alice_agogo they' re already moving into Vietnam and Apple is expanding. Phils missed out again sadly
@PanayFun you are correct, I remember when the airport was shut down due to power issues. Infrastructure is the key.
Philipines need to import rice and all foods comsumption every year. If world wide disastrous happen to countries of food producer may effect serious to Philipines toward femine.
Please do the same analysis for India. Pleazzz
Visited , Talked , Discuss trade , etc in the 2000. Already .... Corruption across ALL levels of govn are evident. That goes for local business too. In the END ..the RISk was too great for the REWARDS expected. When to other countries in Asia in the end for Factory production.
I am curious if having much OFW is also affecting our economy because they have a lot of USD.
Actually, yeah. Ofw money is the reason for inflation. It's unproductive money. $30 billion a year and only really the malls, jollibee, private schools, resorts, etc., benefit from it. Whereas the bpo industry at least directly employs 1 million people. A usual mall will only have 2000 workers or so whether ofws send 30 billion or 50 billion. Malls will not add 500,000 more workers for every $10 billion increase in remittances.
Brain dead
MAKE THE PHILIPPINES GREAT AGAIN 💖
Not with Marcos being a puppet of America
This will never happen with American interference.
With 4 new US bases to irritate China?
It was never great in the first place
@@HKChineseCanadian what is good for rich people ( who rule the country ) isn't good for poor
The whole of Philippines can be leased to it's master USA as military bases.
Lease her girls too.
@@lktan224
lt comes in a package 🤣
Philippines main exports was Filipinos themselves as OFW.
THE PHILIPPINES WOULD NEVER RUN OF DOLLAR RESERVE BECAUSE OF THE 12M FILIPINO OVERSEAS WORKERS SENDING MONEY TO THE PHILIPPINES.
They have free visas for old foreign men for their GALS !
Philippine economy is very weak, they can't even produce enough onions, rice, sugar, steel, plastics for domestic demand. The infrastructure is terrible and inefficiencies in business are systemic. Bottom line the corruption there is crippling that place.
Well, to earn revenue, open another 10 US bases.
Philippines also exports OFW's. LOL. Those OFW's relative in the Philippines have expensive taste. Whenever I visit the Philippines in the airport alone. I've never seen so many LV bags. They love to wear Air Jordans. they love the materialistic things. Thats were your trade deficit is coming from. As long as those OFW's keep sending remittance they are gonna be okay.
Blame the Phil. Govt.
Many Panchiko should be the President
ONLY THIS VLOGGER. THE WORLD.AND WHOLE ASEAN COUNTRY PREDICTED THAT THE PHILIPPINES WOULD BE RISE UNTIL 2030.
asean economic integration everyone. puro indonesian at thai brands
Eww no
@@alice_agogo bobo
We are exporting Zambales sand!
Everything went wrong because of expensive electricity bills, and overpopulation this is why the country can't make a move LOL
Good Filipina
There has never been a disaster.
Filipinos love buying foreign made goods....compare it with the ultra nationalist japanese who shun imported items...
Philippines has changed its foreign investment policy under R.A. 11659 that some of its public sectors like telecommunications, Airports, railways, shipping and expressways can now be owned 100% by foreigners and also there are coming 194 infrastructures to be made under the Marcos administration that will help boost the economy.
Naniwala ka naman? Hindi pa nangyayari ang EDSA at wala pa ang 1987 Constitution wala nang may gustong mag invest sa Pilipinas
@@alice_agogo Oo naniwala talaga ako dahil nakikita ko namang pinagpapatuloy yung Build3x ng Duterte administration hindi tulad ng lutang na ina nyong si Leni na gustong ipatigil ang imprastraktura ng bansa.
@@alice_agogo konti nlng mga NPA Kaya Hindi n un possible maulit...konti nlng kau uto uto na naniwala s Edsa🤣
@@alice_agogo tanga ang daming manufacturing company dito nung 80s,nagsialisan sila dahil sa walang tigil na strike ng mga Union ng mga NPA
@@alice_agogo just 3 telecom railway transit and airports as far as I know
Yes. Philippines export disaster.
Philippines is one of those countries that will be better off colonized.
Surely the US bases should cover the deficits.
Am curious to know how much the US pays for the military bases?
@@billinsf88maybe free ?
@@Lucifer-h7v I know S. Korea pays for the US bases…. I don’t know about the Philippines.
@@billinsf88 the most corrupt in history of philippine family so sad😭
@@Lucifer-h7v ugh…. How terrible for the people!!!
As long as China allows slave labor wages, other countries like the Philippines will be better off importing consumer goods that are bound to cost higher if manufactured locally. For now, it's best to concentrate on manufacturing high-value niche products that China doesn't and can't produce, like computer chips, for one.
Are you living under a rock? The Chinese slave laborers you say are either commuting thru an efficient, punctual, comfortable and highspeed trains or driving their own electric cars with signature clothing to match. While they put more value on STEM courses, we are more excited to be beauty queens, actors, comedians in preparation for a political career..
@@vicenteaviles3785 Yeah, you're right.
@Infinity . . . I would guess your mother moved from the Philippines to France to work as a maid.
BUDOL BUDOL man. Curruption is back.🤣🤣🤣🇷🇺 URAAAA 🔥
🇵🇭 poor country still lagging behind neighbors 🇮🇩🇲🇾🇸🇬🇻🇳🇹🇭
Give me reason why where falling behind?
@@sussyfishman5082 coz we are Filipinos we love to messed up
@@Ymats-dj1nt okay ph have great infrastructure and the economic growth are still great shape search the the economic updata of the ph okay
คนไทยทำได้ๆๆๆๆๆๆๆๆๆๆๆๆๆ
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No one cares
💓💓👏🇵🇭✌️☝️🌍✌️
Philippines had a weak President now.
what do PH export besides Semiconductors?
Minerals like nickel, copper, iron ore. Agri marine products like bananas, pineapple, tuna.
Clothes, office supplies. Electrical circuits and parts, among others.
human slave/s.
@@rainieresguerra-uw7on thanks
Time for migrate to another country..
Philippines is a failed state. Its economic backbone is very weak. Poor infrastructure, high electricity cost, frequent natural disasters, corruption everywhere. Its people work overseas because no decent jobs available for them. The government failed them. Politicians come and go in the Philippines and during their term, they work double time to amass wealth before they exit. Philippines will be forever poor. Now, I’d love to hear ‘Proud to be Pinoy!’
Thank you BBM for the disaster 😂
and off course there is stupid person like you. How could a new elected president caused the export disaster?
Dilawan spotted
are u filipino baiting? u keep on featuring this country.. countries like vietnam bangladesh egypt turkey have much better prospect than this country
read the channel name
Duterte legacy
Duterte works for the good of the country while his Vice President Leni Doesnt even helped. Such a useless VP 😝😜😂
When you step on shit, do you blame Duterte too?
???
Palpak President. Pero at least napapasara niya ang ABS-CBN. Very nice 😀👍
Duterte legacy. #3rdWorldCountry
😱🥸😱🇺🇲🇬🇧🇦🇺🇨🇦🇯🇵🇪🇺 lead by 🥳🐷🤡🐒🍌🍌🍌🍌😒😒😒😒🙏🙏🙏🙏🙏🙏🥸😱🥸🤞😝🤞
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