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Economic Drawbacks
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What is holding the Philippines back economically?
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What is holding the Philippines back economically?
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Deficient national pride. Yes, Filipinos go berserk when they hear the slightest criticism from a non-Filipino, but other than that gut-reaction, everyone seems to be embarassed of their race. They would patronize anything that is ‘imported from abroad’, and wearing locally-made stuff is an embarassment because it meant you cant afford foreign brands. Filipinos are even embarrassed to speak their own language, and would try their hardest to only speak in English to their kids as its akin to being educated and upper class if you cant speak the dialect. I have lived more than 2 decades abroad, and it really makes me cringe whenever I meet another Filipino for the first time and when I try to speak to them in the native language, they would hesitate to reply back in the local dialect (never mind if their English is as rusty as old nails). This deficiency creates further ramifications in culture and economy : brain-drain, as every educated and smart person aspires to leave the country; local industries die, as it cant compete with foreign products; the country’s economic self-sufficiency remains a dream when everyone is enamored of everything that is sourced outside the country.2.Huge national foreign debt – the billions of dollars in foreign debt makes it hard for the country to improve things for its people. The country is barely making a dent in its debt re-payment, and generations of yet-to-be- born Filipinos are already saddled with that debt. Whats keeping the economy afloat are the millions of remittances from the many Filipino workers abroad who remit their earnings back to the country. Any negative tide in world economic conditions affects the country greatly, as it affects the foreign workers’ employment and remittances to the home country. 3. Corruption in government and the general lack of moral conscience in all levels of society – everyone is pre-occupied with their own personal image, and ‘image’ comes first before the moral conscience. This creates a nation of narcissists and robbers. Government officials dont have any qualms about pilfering public funds and robbing the nation blind. They earn votes through shallow shows of magnanimity like giving everyone a sack of rice or a bag of groceries during the election period. The illiterate masses lap it up, not realizing that what they got was just a pittance sum compared to the amount these public officials will steal from them once elected in office. 4. Disillusioned populace who have stopped aspiring for greater things because of the corruption and the lack of local employment opportunities – Rising above one’s lot is nearly impossible when one is relying on local employment alone. The economically rich are those who either acquired wealth through inheritance, those who have family members working abroad, or those who run their own business. To be able to run a business is in itself a long and tedious process, as the system is bogged-down with red tape to just start one. 5. The chicken-and-egg result of bad educational standards and poverty. The low educational standard that is available to the majority of Filipinos coughed-up a nation that lacks world awareness and financial and economic savviness. There are great schools, but they are concentrated in the metros and unaffordable to the majority of the population. 6. The church-instilled mindset that ‘God will always provide’ and the view that ‘ everything is just a matter of luck and fate’ has affected people’s drive to succeed. 7. Lack of good governance. Examples of what’s lacking are universal health-care (there is private healthcare for working individuals, but not a universal healthcare for all), good and affordable education for kids, a trustworthy and reliable pension for the elderly, affordable housing-scheme for its locally-employed population, unemployment benefits, etc. 8. Resulting poverty has created a high crime rate, prostitution, unsavory image for foreign investors and tourism. 9. Over-preoccupation with trivialities -people are so resigned to the fact that alleviating their lot in life is not easily attainable, so they fill their days with trivial concerns like an obsession for beauty contests, singing and dancing, and other forms of mindless entertainment. Its not a rare sight to see the unemployed poor just living a vagabond life in the streets, whiling their days just hanging out with their friends and just expecting doleouts to live their days. There is no sense of panic nor urgency to find something that could improve their lot in life. 10. Challenging geographical location that makes it prone to weather-related calamities. Despite all the above societal challenges, Filipinos are one of the happiest, friendliest and God-fearing people I know, and my only wish is for them to finally have a better governance, better economy and better lifestyle one thw whole.
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Original – May 26 , 2019 Update: Nov 14, 2020 Filipinos themselves. Filipinos love to vote for corrupt politicians and to maintain power these politicians deliberately make life harder for Filipinos to need these leeches at election time!Filipinos love to hope for the better but do nothing for a better situation for themselves. Like Juan Tamad majority love to daydream of better days, some do work hard but that is not enough nowadays people have to work hard and smart.Filipinos love to complain and know what is right but do not practice it. Pretty much like the popular no-sex before marriage rule but we got a lot of teenage pregnancies.Filipinos love to show-off their pride by loaning some money they cannot logically pay for to host an event.Filipinos are the Hobbits of Middle earth. We got breakfast, brunch, lunch, snack, dinner, and late-night snacks. Goodbye savings!Filipinos think that a credit card is free money—well, this was very true 20 or so years ago as more and more young Filipinos are learning it the hard way.Monopoly. This is hidden in plain sight. The business/political leaders had control over big businesses that they can dictate price of services and commodities even the cost of living since they pretty owned the subdivisions, condominiums, malls and supermarket, and the utilities.A lot of Filipinos are still un-banked or they do not use the banking facilities. A visiting Korean co-worker even asked me “Why are your banks not utilizing online banking?” as he was surprised a lot of people queuing inside banks.” For context the bank was BDO and they accept utility bill payments and other payments that can be done if you had a bank account and using their online banking facility.Some Filipinos had an entrepreneurial spirit but they always forget or do not know how to pay themselves when doing business. An example of this is the previous Boomer generation’s saying “Piso lang patong!” or Mark-up of ONE peso, nowadays this is charity if we are living in 1930s a peso can buy you a feast for a family of five.EDIT: I am a Filipino, born in Tondo district. I only had a Chinese father who also pointed out to me Filipino vanity #4. A lot of my countrymen are in debt just to show off rather than living within their means.