Literally. They are over-proud, they just keep flexing themselves on how powerful and talented they are, but even if they are talented, why the economy is still stuck in the middle? Vietnamese and Indonesian never show off, that's why they are so powerful. Don't flex, focus on yourself.
There is nothing to flex to be honest and I'm sorry if some of my fellow Filipinos are behaving like that. We're still in the middle of construction of many infrastructure projects that is focused on transportation (railways, expressways and bridges), some of it are already past its 50% completion rate and hopefully some will be done in the next 2 years.
@@giripog28 true! I have lots of european friends who visited Manila last year and when I asked them about infrastructure, development and about transpo, they honestly said that PH needs to improve a lot because we are comparatively considered as less developed. True, we have nothing to flex yet.
Overproud aka Pinoy Pride was essentially a emotion case of coping mechanism. The third world political trends in modern times has not educating on globalization, but instead it fall back to insolation and nationalism combined with the history of colonization, majority of their national identity have been watered down to thinking that they're inferior race. Being insecure about their own color skin and identity will lead to inferiority complex and the only way to counter this feeling was to flex superiority complex aka crab mentality bringing down their own fellow people or other countries achievement to pet themselves to feel better. The internet of today are also making the world smaller and thus filipino internet users are more keen to seek validation especially from caucasian as it show their colonial mentality remains unchanged. People in Philippines don't vote their leader for merit rather they vote for popularity, most of them are uneducated they are like frog in the well looking up the sky and thinking that is everything they can see from within the country not to think further
I find that Filipinos are very arrogant and prideful despite their situation. They also love to deny their problems, keeps coping that everything is improving fast, and that they can take on China in an all-out war. Sometimes, it's better to be humble, keep to yourself, work hard to improve your life, and be ambitious.
Philippines always allows for poor quality foreign investment. It does not need more call centers, it need more IT factories. It does not need more American bases, it need more American manufacturing. Why did Chinese and Korean factories moved to Vietnam, Thailand, Bangladesh, Malaysia and Indonesia but not The Philippines? Philippines is an island nation, yet it doesn't have a comprehensive proper port. That itself speaks a lot.
It all leads to Corruption..if you dissect the problem to it's core, it always leads to the Philippines chronic corruption at all levels..plain & simple
@@normalyoutube495 Study only to cover the entire collumns of gossip magazine with saucy and ridiculous stories. Yes the education system must've work really great for them lolololl
I had a feeling this video would drop knowledge and facts and some Filipinos would defend the country's economic status. Typical Pinoy whistling past the graveyard. Hopefully it's that and not ignorance.
The answer to the question in the title of the video is situated in Article XII, Section 10 of the 1987 Philippine Constitution. That section in Article XII is also known as the 60/40 FDI rule. That is where foreigners can own businesses up to 40%, while the other 60% goes to a Filipino partner, particularly the local oligarch. As a result, certain problems like the lack of opportunities, low and unlivable wages, and brain drain, arise.
FAKE NEWS DILAWAN Video We are experiencing the Golden AGE of the awesome Leadership of Tatay Digong and Prince Marcos JR of the Marcos Royal Family with Trillions of Tallano Gold coupled Kill Kill Kill. We are like SINGAPORE with Tallano GOLD.
From an outsider, Phil is in deep trouble. They are now behind Indo, Vietnam as well making them same rank as the Myanmar, Laos etc. Of course, they are light ages behind Malaysia, Singapore.
CORRECT! THE VIDEO IS MISLEADING lol In recent years (past decade), the Philippines has retained itself as being one of the fastest economies in the Asia-Pacific region. The nickname "sick man of Asia" has been obsolete since the early 2000s. Yes, Vietnam has grown faster than the Ph over the past decades, but saying Ph is growing "slowly and laggardly" is INACCURATE. Compare it to the rest of the world, and not just to Vietnam. Besides, Vietnam has already opened their economy to foreign direct investments, while Filipinos still worship their archaic, restrictive 1987 constitution LMFAO.
@@apinezstats2237 you should compare it to its neighboring countries, like Vietnam because we're on the same level, why tf you'd compare PH with some impoverished African country? The fact is Vietnam has to suffer under four wars in 20th century, and they've only opened in 1990s and now they switfly caught up with the Philippines in terms of GDP. You don't think that's alarming? The truth is, the Philippines is a laggard.
1987 constitution is so strict. Favoring oligarchs + Philippines long history of corruption that made Filipinos not united and dismayed the way leaders run the country
FAKE NEWS DILAWAN Video We are experiencing the Golden AGE of the awesome Leadership of Tatay Digong and Prince Marcos JR of the Marcos Royal Family with Trillions of Tallano Gold coupled Kill Kill Kill. We are like SINGAPORE with Tallano GOLD.
Oligarchs who flaunt their wealth while their people are eating pagpag. Oligarchs who send their money into foreign banks. I have a suspension that the country's elites don't really want to develop the PH because it's easier to exploit it that way. Maybe it's all by design.
I think having so many useless street children is also a big issue. You mfs been using corruption as an excuse for decades and have done nothing about it
Im living in Philippines and i dont want to live like this so as an individual, i am educating myself and at least do something different choose right everyday..
Article XII, Section 10 of the 1987 Philippine Constitution. is also known as the 60/40 FDI rule. That is where foreigners can own businesses up to 40%, while the other 60% goes to a Filipino partner, unfortunately we protect our own oligarchs who abuse us anyway. foreign competition levels the field. vietnam, thailand and india have no similar laws.
Indonesia back then was poorer then philippines, but now indonesia is richer in term of GDP Per Capita. Even indonesia has similar problem with philippines, corruption, natural disaster, archipelago, war against separatist. So maybe.. Just maybe.. Philippines should learn from indonesia.. Because it is the most similar cases...
There is a certain part of the Philippine 1987 Constitution that limits economic growth. The Section 10 Article XII. That must be romoved. The constitition cannot just be rewritten by mere leguslation or executuve order. It limits foreign direct investment by letting foreign investors own 40 percent of the capital and the 60 percent would belong to a filipino. Further, why build a factory in the Philippines where leftist influenced union workers would make unnecesary demand until the factory go bankrupt or leave. Or or thise leftist uiniin would let in allied armed communists in snd further destabilize the factory further by burning equiptments, stealing the guns of the guards snd so on.
GDP Per Capita doesn't always mean people rich Ex. Angola and Equatorial Guinea, and the numbers aren't that much different with a difference of only a thousand compared to Philippines.
Yeah almost all of the philippines, but theres a certain place in the philippines that that have a very high paying jobs and that metro manila and some foreigners are working there to if the whole philippines will become metro manila it will be a different story dont compare us to cambodia because our metro manila far ahead of them and metro manila is one of the richest cities in asean haha😂
Bad policies is what Philippines adopted from 1987. Just like the Soviet union, you gradually self destruct. Change must start at policy level, if only politicians understood every year these policies remain-investors will choose Taiwan or China or Vietnam, Singapore etc. Noone will bring money for comrades to take 60%
I agree that Philippines can learn a trick or two from Indonesia but we have to also note that Indonesia has way more natural resources, fertile islands, and more stable climate. Philippines is hit way more often by typhoons and earthquakes than Indonesia.
the problem is in the Philippines, it's the different policies of our leaders that's why we don't progress, there's another problem with cheap electricity so our investors don't come in and the lack of strategies of our leaders
The current admin is already spending a lot of money on infrastructure that is focused mostly transportation that will ease its problem on efficient movement of goods that affects a lot of industries. The only issue now is opposition loves to counter the spending on these projects because it is ballooning the country's debt. They don't understand that once these projects are all done and being used by the people, it will surely be a catalyst for the economy of the country to perform better.
I'm starting to believe the top 1 major problem our country has is lack of leadership and clear goal. Although we have corruption it's not the main problem. We need to have focus and clear goal and just work on what really matters, our strengths, instead what we have unclear goals and that makes our country quite lost. If we have focus and clear goal and solid system I believe we can win this. You have a goal you win oncw, you have a system you win everyday.
Exporting people is called trafficking. It's a bad policy and failure by politicians to cool down an economy. How do you export a human being. What if he/she decides not to send a cent home?
South Korea did the same thing in the past, except their purpose is very different. They sent their people abroad to study, observe, and learn before they come back and implement it in Korea. Filipinos immigrate for another reason, to make money and permanently stay. South Korea sent their nurses even to Egypt, which is more medically advanced during that time, for them to learn gain experience and return. OFWs should have the goal to eventually return asap and establish businesses or practise locally, applying what they learned abroad. Save some capital, send themselves to school, do not get content working laborer jobs. I noticed the difference between East Asian and Filipino immigrants: East Asians work basic jobs with the goal to eventually go to school, Filipinos seek permanent employment with basic labor. Even old East Asians go back to college/uni while Filipinos make a lot of excuses like "putang1na I'm already too old for school".
@@AndrewPremacio Yes, agreed. But it's good to have loyalty to your homeland. PH won't improve unless most Filipinos, rich or poor, does the best for the country. Besides, it gets tiresome being targeted for racism or just being unwelcomed by the locals. Have the mentality to make deserts bloom.
Too may nosey vloggers about the Philippines.. saying Philippines failed, disaster, doomed, poor etc.. And yet we are now currently, still going on..still alive and full of hopes. YOU GUYS JUST JEALOUS FOR US FILIPINOS BEING POOR. Please enjoy what you have and don't bothers us Filipinos in the Philippines 😊
@@zethcao11 Having natural resources doesn't mean you're country will he rich take a look in Switzerland super developed and rich country but it has no natural resources and reserves. 😂😂😂😂
@@paolosantiago3163 I am just answering the question if the economy goes down, and this means all the industries will go down, for me as a farmer I can still eat, I am only talking here as an individual not representing the whole country, it is just a kind of joke.
USA tons of external & enternal debts into trillion dollars and lately it was reported printing new money again… scary. That’s cause inflation. Ordinary people can’t reach anymore the cost of foods-……still Philippines is much better position.
The Philippines' economy has been growing at an over 5% annual clip over the past 20 years and accelerated into one of the fastest growing in ASEAN at over 6% in the last decade (among the fastest in the world according to statistics from the biggest and most credible financial institutions like the World Bank, Asian Development Bank, and the International Monetary Fund). That's until the Pandemic wreaked havoc on the planet, However, it has since recovered its pre-pandemic numbers. It has one of the most acclaimed Central Banks, which has managed the country's finances well. That's why it continues to improve its credit rating. In the meantime, it has also opened up to Direct Foreign Investments a bit that would help push it to become a trillion-dollar economy by the 2030's. It's right now in the midst of its so-called "Golden Age of Infrastructure development." I think it's quite a reach to call it a laggard still. That' a dated perspective when the country is now poised to become one of the leading ones in the region in the foreseeable future. Maybe up until the 1990's you can still call it a laggard, but I think things have dramatically changed for the better since then. And that's not just wishful thinking as it's backed up by facts and stats. Sure, there are still large problems to hurdle, but it's getting its act together. It's not at all the doom-and-gloom scenario that your channel is trying to paint in this particular video.
PH was one of the most promising investment destinations in the '50s and 60s & second only to Japan's per capita income ($1100) with ours at $1030. Many of our neighbors like Korea looked at PH as an impossible dream, bec. we were far richer than most of Asia. Investments grew despite the fact that PH was an archipelago frequently visited by typhoons, volcanic eruptions, earthquakes & calamities. Ergo, it's the communist & MNLF/MILF insurgencies, corruption, oligarchism, poor savings mentality, cronyism, and political and economic mismanagement of the 70s, 80s, and until the 90s and poor capital formation below 20%, way lower than our neighbors of 20-30%, that led to our poor economic growth. It was only with the growth of OFW remittances and the BPO & services sector, (thanks to US occupation) that fueled domestic consumption & coupled with more reforms & infra projects implemented by PNoy and PRRD that PH grew exponentially. We hope PBBM can continue more reforms and grow our FDI and improve our weak export & agri sectors too, to further push our growth. Filipinos should mature as a nation and stop fighting over political colors which is causing us to be divided. Though I'm not a fan of BBM, I believe this is the essence of BBM's unity plea, and we should heed it while staying vigilant of any gov't. irregularities in the future.
Because Taiwan and Korea was administered by Japan, they inherited Japanese practices on property rights, legal system, taxation, registration, education, vaccination, civil service, infrastructure, law enforcement, etc. Many of the political, economic, and military leaders received the same/similar education as their Japanese counterparts. For that reason, it was much easier for them to emulate or even continue Japan's economic policies after their independence. Unlike the Philippines or the US, Japan had invested heavily in Taiwan and Korean peninsula during Japanese administration, setting up schools, universities, hospitals, railways, roads, dams, factories, industries, infrastructure, etc. By far the most important investment was in their education system, from mandatory education to university. (Of the 7 Imperial Japanese Universities that existed, 1 was in Seoul, 1 was in Taiwan, and 5 were in the Japanese Isle.) In the early decades after independence, Singapore and Malaysia also meticulously studied and learned what made Japan recover so quickly from the war. Unfortunately, Philippines was politically unstable and too busy with maintaining domestic security. I still remember a Japanese company executive saying that in the Philippines, imported merchandises sometimes magically disappear from ports, unless you paid extra to port officials. It's easy to blame officials for corruption, but they're not getting paid enough because the government couldn't fairly tax the economy. Former Spanish colonies across the world similarly suffer from economic disparities, lack of infrastructure, weak government institutions, weak tax regime, skewed land ownership, and domestic violence due to social injustice...as a legacy of colonial rule. So I don't think the problem is unique to the Philippines. if you compare with former French colonies, the problem is relatively fixable.
No . I think the biggest problem in the Philippines is that the consciousness is still post-colonial. Lack of progress, sense of independence. The colonized still thanked the colonizers after independence, without any self-respect. This spirit determines the upper limit of the Philippines' development. What the Philippines needs most is a spiritual makeover. Finally, stop indulging in religion. Religion is a drug.
just a few things that contribute to a bad business environment: 1. geography - we're not a single mass country making the movement of people and goods difficult. 2. lack of incentives - very little in the way of attracting businesses. 3. lack of infrastructure - poor communications and road infrastructure. 4. high taxes - the Philippines has once of the highest corporate and income tax in the region. 5. politics - politicians are more concerned about staying in power rather than doing what's good for the country and its people. 6. education - level of education is no longer at pace with the demands needed to be globally competitive.
Too many national and regional government employees. They have devolved or transferred their work and functions to the local government but still have the same number of employees receiving salaries
From an outsider, Phil is in deep trouble. They are now behind Indo, Vietnam as well making them same rank as the Myanmar, Laos etc. Of course, they are light ages behind Malaysia, Singapore.
Lmao. Philippine GDP is neck and neck in competition with that of Singapore and Malaysia and is still ahead of Vietnam GDP. The only two countries we cannot touch is Indonesia and Thailand
@@pongpong123able4 now turn to GDP per capita and it will show the real picture if the Philippines really stands on the same level as Singapore and Malaysia 😂
@@khust2993 well if you go by gdp per capita, then the US and China are not superpowers..they are middling countries compared to the wealthy per capita nations of Qatar, Brunei and Luxembourg lmao. See? GDP per capita means nothing. Brunei couldn't even hold SEA games because they can't afford the infrastructure. India has a very low GDP per capita but is now considered a global economic power in terms of gross wealth. In SEA, Philippines ranks somewhere in the third or fourth places next to Indonesia and Thailand. We are no longer a laggard economy nor a sick nation
@@pongpong123able4 huh i mean the reason why brunei and luxembourg rank high is cuz of their lower population. there are portions of the US and China (like let's say cities like NYC and Shanghai) that have the highest gdp per capita in the world (gdp divided by the population of the city). GDP per capita doesn't mean and say everything about our economy, but it does talk about how much wealth and value we generate in our economy per person. Since the Philippines has been lagging behind its competitors with regards to gdp per capita, we need to probably look at how wealth is not being distributed fairly in the country or how development is not spread to regions of the philippines that would otherwise benefit from it. Like sure, the fact that we have a larger gdp than vietnam does give us maybe more leverage when it comes to us being an importer of trade as a consumption based economy. Our government has a higher gdp to tax that can be spent on defense and infrastructure, but we need to keep in mind that we still generate less value per person... so we're not being as productive as we can be. When onions ended up costing more than meat at one point, you gotta ask some tough questions on whether or not the economy is being run right...
@@pongpong123able4 phil is defferent fr the rest after 20 years w gas and oil exporting.sabah and china island claim return to ph.reminder US base wil put in balabac palawan near spratlys island and sabah.every inch of teritory will not abondone - marcos jr.
@@evernam993m8 Malaysia has literally been an upper middle income country since the 90s yet it has not become developed. It's like the Philippines which has been a lower middle income country since 1994 but hasn't gone up into upper middle until recently.
I agree that we are growing slowly but surely but I'm not so sure that the other countries you mentioned are bound to fail. However, they are currently exhausting their natural resources while causing environmental pollution, issues that aren't a concern for the Philippines at this time. Knock on wood. Instead, we have the OFWs and the BPO to thank for our healthy international reserve balance.
PH scored lower in covid response? They built this herd immunity to covid by vaccinating 75% of its population. We have 110M people here in the philippines with an area on 300,000 sqm. And the government failed in covid response? For a THIRD WORLD COUNTRY, i would give credit to what they have done for their people
@@JayCarlz-sj2xp Japan’s response to covid is far more sensible than Philippines. With just medicating on ivermectin, they’ve brought down a huge fraction of covid cases more than Philippines did.
Philippines makes it hard for people to invest in the country due to it policy of 60/40 split in starting a business. 60% must be own by a Filipino. You can not even own land to build a home if you are from another country. That makes it hard to move there and invest in the country, so only their rich get to make things happen. That keeps new ideals from taking place!
the root cause is the government system until filipinos realize that what they need is charter change no matter how good the government administration it is.. it wont grow
I was a political science student in college (2002-2006). This was a legit topic then. Why was the Philippines a laggard in development. but this is seriously incorrect today. Our GDP growth rate from the last 13 years is among the highest in asia on average. So drop the agenda and stop being stuck in the 90s narrative
THIS IS MISLEADING lol In recent years (past decade), the Philippines has retained itself as being one of the fastest economies in the Asia-Pacific region. The nickname "sick man of Asia" has been obsolete since the early 2000s. Yes, Vietnam has grown faster than the Ph over the past decades, but saying Ph is growing "slowly and laggardly" is INACCURATE. Compare it to the rest of the world, and not just to Vietnam. Besides, Vietnam has already opened their economy to foreign direct investments, while Filipinos still worship their archaic, restrictive 1987 constitution LMFAO.
Car and tech market is already saturated so yeah, I guess Philippines can go for the niche route like green energy manufacturing. Maybe look at their natural resources and build facilities to process them instead of exporting it raw. It's also good if they can make finished products from those resources. Like maybe batteries. Weapons manufacturing might also be a good idea. Philippines already has a talent for making guns. Maybe they can compete with US for guns and ammunition manufacturing.
it also touches the key points why the Philippines has failed to catch up or be better to its peers. it is also true that there have been incompetent leaders, but i would say there are too much leaders or elites in the government that time that it failed its country with its politickings. especially they focused too much in the Manila. Now that social media gave access to the people of North to South. NCR people are now just a minority of opinion now that people have more power to sway the public. basically, opinion doesnt have to be as bias as it used to be in the NCR since now it involves the country as a whole.
Felt sorry for Philippines...forget about other Asian powers as Japan, and the four little dragons. In ASEAN, Philippines could only see the rear light of Brunei, Thailand, Malaysia and Vietnam. Even Indonesia is taking the lead now and Philippines has fallen into pathetically the poorest category of the authoritarian Laos, Cambodia and Myanmar
FAKE NEWS DILAWAN Video We are experiencing the Golden AGE of the awesome Leadership of Tatay Digong and Prince Marcos JR of the Marcos Royal Family with Trillions of Tallano Gold coupled Kill Kill Kill. We are like SINGAPORE with Tallano GOLD.
@@alexbonilla1143 gains from the past few decades? We were the sick man of asia in the last few decades. it was only since 2010 that our economy began to become resurgent, reaping the fruits of the BPO industry that was crafted during PGMA's time. Since then our fast growth was consistent every year. It was only during 2020 when Philippines experienced negative growth because of COVID and it rebounded easily in the following years. Our growth rate for 2022 was among the highest in in the past decade.
@@pongpong123able4 Point taken.. The Phils was names sick man of Asia in 1987 following decades of abysmal performance. That headline was used I think by Newsweek or Time magazine in '87. There have been considerable strides since then especially throughout first half of 2010s where GDP growth ave 6.5-7% poverty dipped to below 18% and gross reserves reached record highs... of course Im sure people will believe what they choose to believe.
@@alexbonilla1143 this is the data re Philippine GDP growth rate from 2009-2022. Our annual growth rate was consistent not just in the first half of the 2010s but all the way to the present. The only year we had a problem was 2020 (the whole world experienced negative growth) and in 2021 where we only posted growth in the 5 percent range (but it was still a remarkable recovery from COVID compared to most countries in the world). In 2022, we climbed back to 7 percent range. So political bias aside, we are doing fine regardless of who is elected president 2022 7.6% 2021 5.70% 2020 -9.52% 2019 6.12% 2018 6.34% 2017 6.93% 2016 7.15% 2015 6.35% 2014 6.35% 2013 6.75% 2012 6.90% 2011 3.86% 2010 7.33% 2009 1.45% Source: www.macrotrends.net/countries/PHL/philippines/gdp-growth-rate psa.gov.ph/content/gdp-expands-72-percent-fourth-quarter-2022-and-76-percent-full-year-2022#:~:text=The%20Philippine%20Gross%20Domestic%20Product,full%2Dyear%20growth%20in%202022.
Reform the law and order an arrest to all corrupted, arrest them all because they have no love for there country to developed and reach higher in science, economic, manufacturing, etc, that no nation will be expected it.
Arrest who? We might need to build another high end prison to fit most members ng congress pa lang. Di pa kasama ung mga nsa customs, BI, DepEd, DOH, etc. 😂
@@curiousinkorea91 ah this is just my opinion don't get serious i am just a SHS student who knows nothing about stuff that you said. I said what i saw in my opinion pwease go easy on me Wla talaga ako lam oke HAHAHA
How can you arrest most of your Oligarchs then? They are untouchable and the gullible Filipinos worship them. Now I wouldn't mind if they are like SKorea's Chaebols who actually developed their country, but your Oligarchs created policies to keep themselves in power in exchange of keeping the country poor. Maybe they even don't want to improve the country bec it's easier to exploit it that way. Keep them poor, hungry, and uneducated.
The Philippines already died when we had the 2nd republic, which lead to the election of crony capitalists and bastard government officials. The Trillion Dollar projection of the economy will just become another sham and will just benefit the extremely rich minority. If I have a chance to leave this hell hole of a country - I would, but sadly, I cannot because my meager wage doesnt allow me to, and I work at an american company stationed here in this country.
Philippines killed manufacturing because Of high electricity rate. Intel leave the Philippines because of high electricity rate.. Philippines OFW sends 30 billion Dollars in remittances every year where It goes ?
One of the main reasons for the decline of the Philippine economy from the robust 50’s and 60’s, was unfortunately the declaration of martial law by Pres. Ferdinand Marcos in 1972. This autocratic rule turned off most rich nations of the world and withdrew their support of the Marcos regime till the 90’s when again the closure of Subic snd Clark US bases contributed also to this economic decline. But of course the delayed implementation of land reform, ( when Japan, South Korea and Taiwan finished their land reform early ), high electric costs and corruption have also been contributing factors. This decline continued also because of the oligarchs in the country and unequal distribution of wealth which resulted in the lack of local investments, with the rich and powerful politicians who were only interested in their welfare and not the country’s future. Today, Pres. Bong Bong Marcos who was mostly educated in the west, Oxford in the UK and Wharton in the US, may hopefully change things for the better. PH should hasten the development of it’s vast oil and gas potential reserves ( which could lower electricity and solve it’s economic problems ), then eliminate corruption, in order to continue its fast economic recovery.
FAKE NEWS DILAWAN Video We are experiencing the Golden AGE of the awesome Leadership of Tatay Digong and Prince Marcos JR of the Marcos Royal Family with Trillions of Tallano Gold coupled Kill Kill Kill. We are like SINGAPORE with Tallano GOLD.
@@richardunica3542 FAKE NEWS DILAWAN Video We are experiencing the Golden AGE of the awesome Leadership of Tatay Digong and Prince Marcos JR of the Marcos Royal Family with Trillions of Tallano Gold coupled with combined vison of Kill Kill Kill & Unity. We are like SINGAPORE with Tallano GOLD.
You forgot to mention when People’s Power Revolution was enacted foreign investments lost confidence in the Philippines and it forced them to default on all their foreign loans. Which caused a whirlwind of investments to leave the country. Which lead to the OFW culture
PH has never really invested in industries. Early on it relied on sugar free trade with US. When that stopped during Marcos senior time, it exported its people. PH survives as an import economy because it exports its people instead. This causes social scars in the families involved. Instead of industries we have malls and real estate properties as the biggest money earners. All reliant on OFWs. Duterte started some capital investment, Marcos should do more. As long as PH is reliant in exporting its people instead of producing goods and services it will never develop.
CORRECT! THE VIDEO IS MISLEADING lol In recent years (past decade), the Philippines has retained itself as being one of the fastest economies in the Asia-Pacific region. The nickname "sick man of Asia" has been obsolete since the early 2000s. Yes, Vietnam has grown faster than the Ph over the past decades, but saying Ph is growing "slowly and laggardly" is INACCURATE. Compare it to the rest of the world, and not just to Vietnam. Besides, Vietnam has already opened their economy to foreign direct investments, while Filipinos still worship their archaic, restrictive 1987 constitution LMFAO.
@@khust2993 What kind of restriction is that, specifically? Just so you know, Philippines' economic restriction is embedded in its constitution. It literally DOES NOT ALLOW FOREIGN OWNERSHIP of crucial industries. It's so restrictive to the point where foreign investors have constantly begged the PH government to ease the restriction.
the Title is hideously misleading, ignorantly biased and purely stupid. It look like the Video Creator had a biased negative views of the Philippines and much side with leftist-liberal perspectives, in regards to many criticisms about the country's Economy.
Education is the key here, but most Filipinos don't have good quality education that's why they keep voting the unworthy government officials who are corrupts., The population keeps growing but educated persons had diminished resulting to lack of job opportunities in business and inflation rate! 😢
> one BIG EXAMPLE is the wasted/unused BATAAN NUCLEAR POWER PLANT that has domino effects to slow down the Philippines economy... if this power plant was used before = it will be very beneficial...
ONE OF THE FASTEST GROWING ECONOMIES LAST 2022 with 7.6%.. and NOW YOU TAGGING PHILIPPINES AS A FAILED OR LAGGARD ECONOMY..? How it come ONE OF THE FASTEST AND THEN THIS CHANEL SAYING LAGGARD but not only in ASEAN HUH but in entire 48 countries ASIA😩
Marcos Jr. should stop messing around in the South China Sea and clean up the mess at home. The Filipinas are gonna be great again when all the slums area are gone for good.
Philippines can start by narrowing the trade deficits it had with 8 countries! Specially china! Put on tariffs on some Chinese goods that enters the Philippines! Zero in the wide imports it does just to facilitate common commodities like sugar and rice! By subsidizing heavily on medium and large farmers! Up the the high end manufacturing by providing better infrastructure for to foreign investors! Be liberal on fossil fuel mining in the country that way Philippines doesn’t have to import massively on foreign energy! Support local mining companies! On extracting rare earth.. in short? Start industrializing! Philippines is late on everything!
Hear O Philippines Rejoice Michael the great prince of Israel has been born in the flesh and walking among us the sons of Israel. The wonderful BIRTH of revelation 12 is fulfilled in Michael. If not Michael Who? Michael shall remove all poverty from the Philippines before your face. From Michael the Jew and son of Yah.
FAKE NEWS DILAWAN Video We are experiencing the Golden AGE of the awesome Leadership of Tatay Digong and Prince Marcos JR of the Marcos Royal Family with Trillions of Tallano Gold coupled Kill Kill Kill. We are like SINGAPORE with Tallano GOLD.
Yeah right, that's why most of us are still poor. If we are not going to make any drastic changes our country will stagnate and will not prosper. Better go to another country
Probably. It might be by design because these politicians and elites only care about enriching themselves as they've inherited from Spain. This is why they hold on to power and eliminate every competition be it political or business via assassinations, threats, or unfair laws. In Confusian societies, the elites are obliged to give back to the society.
@@zachdwight1385 That's not true. Look at countries like Angola and Equatorial Guinea having GDP per capita way higher than Indonesia, do you think people there live well......I don't think so....
with the best intentions: please wake up and learn from what this guy has shared, instead of being one of the typical "nakakafroud ako to bi Pilipino" drones. we both live here, but how can we tolerate the extreme poverty around us? we may be middle class and up, but all the beggars, slums, homeless people around us are not. 18% live below the poverty line, teenage pregnancies are everywhere which means unsustainable population growth relative to our lower GDP, we are far behind with gross capital development/growth.. so the government needed to do something drastic about this yesterday.. while our neighbors have reduced their poverty figures and managed their population growth to single digit figures (Malaysia 4.8%, Indonesia 8%, Thailand 4%, Vietnam 6%) we are back at the "sick man of Asia" label.. whatever development is happening here, it's clearly not enough and is the wrong type of development. it should be 3-4x the pace and be more aggressive AND not forget one of the first aims should be to stop extreme poverty and help the poorest become lower middle class at the very least. that includes all the things this guy mentions. didn't you hear the latest speech from PBBM where he forecasts our country reaching a medium economy by 2040?? during PRRDs time it was thought to have happened by this year!! indonesia reached it, while we did not. economically speaking we're still on the same level as Nigeria, Kenya, Bangladesh etc. watch a "walking in Nairobi" video and you'll see it's identical to Manila. watch a "walking in Ho Chi Minh city" video and well alam mo na... there's still so much for our government to do and unfortunately they keep making the wrong decisions. Our corporations are strong and intelligent, that's why they're oligarchs now, but our government is not smart. Open the Philippines to FDI to get our gross up, and equal out development regionally in budgeting, coupled with an aggressive public rehousing programme for the poor to stop Filipinos living in extreme poverty and unecessary suffering. but tell that to our trapo and highly xenophobic and corrupt senators... our ASEAN neighbors can see it and feel bad for us, but so many of us are blind and manipulated by our corrupt govt and corporations.
@@Ilove-zc1zm I agree 💯%, but its not as high as it should be right now. despite the pushing from GMA, RRD and now PBBM, it's not moving quick enough. we still have too many trapos and corrupt and xenophobic elites here who want to keep the money within their circles. we keep slipping behind. we need to put pressure on the guilty departments to step up their development. these are National Housing Authority, DOH, DPWH especially. it is their responsibility to develop our country and lessen poverty and inequality, but we always see scandal after scandal involving them. we also need a string PRRD style iron fist to stop pushback from dinosaur senators who are greedy or selfish. we all know who they are but no one will name them because it's still so unsafe to say the truth in public. I always hope and pray the right people are brought in to our government to help with the correct level of development needed for us to escape this laggard role in ASEAN.
Kasi nga ay bumibili tayo ng oil sa ibang bansa dahil konti lang nakukuha sa malampaya at wala pa tayong nakukuha sa mga oil drill ngayon hindi gaya ng mga asean neighbors natin ay marami ng nasisipsip sa oil drill kaya mas mura kuryente nila.
@@juandelacruz3134 Is because unlike their governments, Philippine government doesn’t want to subsidise for gas and electricity hence our high electricity rates. If our government wasn’t too greedy then they could’ve brought costs down more and attract businesses to come here more.
@@juandelacruz3134 Kahit bumibili tayo ng oil mula sa ibang bansa kaya nating magtayo ng maraming power plant upang dumami ang electricity production natin at bumaba ang halaga ng kuryente. Political will talaga wala dito sa Pinas
To call the Philippines a laggard economy at this time is simply inaccurate. The Philippines continues to grow DESPITE corruption at all levels of governance - from Barangay to the Executive Branch. There are 2 factors why the Philippines isn't growing as much as it should, in my opinion: 1- Unlike most of its neighbors, the Philippines is archipelagic, not landlocked. The number of roads, bridges, seaports, and airports that have to be constructed to connect the islands is staggering. If those amounts were invested in manufacturing, instead, we could have been a powerhouse, something that I'm not too keen to happen, anyway. 2- We have to import oil, unlike most of our neighbors, and that takes up the bulk of our deficit spending. I hope PBBM focuses on drilling for oil and gas in the WPS to reduce our dependence on imported oil. The good news is OFW remittances and the BPO industry more than make up for what we lack in manufacturing revenues, for now. Slowly but surely, I think we are headed in the right direction.
3rd.. we are the number 1 (or one of) country in terms of natural calamities Damages takes away money and even rebuilding yet again requires huge money instead of being used in other things
That is why the best way to increase the country's overall production is, like Japan, to get the income sources mostly from the outside the country - OFW, BPO, corporate investments and franchises abroad, Sovereign Wealth Fund (like the Maharlika SWF) and international trade - instead of pushing ourselves to produce goods, services and fixed capital locally.
If your western ally are very undependable and does not invest in you, this will happen. West makes japan korea malaysia singapore rich, while philippines stuck with crumbs and leftover investments. Only way is to integrate asean economies more like eu style, cutoff western influence in asean
The problem itself is in the Philippines. Western investors can't fully invest in the Philippines because of its constitution which limits the ownership and investments of direct foreign investors. Less investors = less job opportunities= poverty= crimes, migration of professionals to other countries which can result to brain drain phenomena, socio-political instability, lesser market competition, etc. Thailand, Singapore and Malaysia are also ASEAN countries and a lot of their investments came from western countries and it is because these countries have open market economy unlike the Philippines.
@@shirokawaken5170 Well, foreign investments wouldn't be so much of a factor if the country's elites are actually competent and aims to develop the economy. South Korea and Japan is mostly run by their own corpos and they did just fine. The big difference is culture. Philippines has mostly medieval Spanish system where the rich only concern themselves with their own money and power. Confucian societies had everyone work for the benefit of their society, not just themselves and their family.
Accurate. Idiocy in governance redounds to pepople's ignorance. How can we grow if all information children get are misinformation and fake news- a ploy to mislead the people from criticizing policies. Giving dole-outs or pay outs create a delusion of contentment not to strive and create opportunities. Politicians dwell on getting patrons of minions rather than create laws to upgrade the overall situation. People deserve their leaders.
I think the biggest problem in the Philippines is that the consciousness is still post-colonial. Lack of progress, sense of independence. The colonized still thanked the colonizers after independence, without any self-respect. This spirit determines the upper limit of the Philippines' development. What the Philippines needs most is a spiritual makeover. Finally, stop indulging in religion. Religion is a drug.
THIS IS MISLEADING lol In recent years (past decade), the Philippines has retained itself as being one of the fastest economies in the Asia-Pacific region. The nickname "sick man of Asia" has been obsolete since the early 2000s. Yes, Vietnam has grown faster than the Ph over the past decades, but saying Ph is growing "slowly and laggardly" is INACCURATE. Compare it to the rest of the world, not just to Vietnam. Besides, Vietnam has already opened their economy to foreign direct investments, while Filipinos still worship their archaic, restrictive 1987 constitution LMFAO.
Education is the key. Today's future leaders are learning from current strategist. So it carries forward. Filipinos learning and educated from industrialized nations are staying on where they learn it because its not worth coming back to practice what they learn and most of the time its not applicable to a specify economy
Despite of having NPA terrorist, liberal party, drug cartel in country the Philippines still the most blessed for good weather, Good beaches, nice people, full resources metals, stone, gas oil and a top of that ...we have God
FAKE NEWS DILAWAN Video We are experiencing the Golden AGE of the awesome Leadership of Tatay Digong and Prince Marcos JR of the Marcos Royal Family with Trillions of Tallano Gold coupled Kill Kill Kill. We are like SINGAPORE with Tallano GOLD.
Which Aquino are you talking about? If Cory then yes I agree. If Noynoy then not as accurate. If you say that then BBM administration is just as bad. Noynoy and BBM are not as different. Slowpokes who are weak in leadership and are easily controlled by their own crony buddies but at least not as corrupt as Marcos Sr, Erap and Arroyo.
PH economy has dwindled down rapidily starting from the mid 70's which is under the marcos' regime. The data dont lie. While other asian countries continued to develop, the Philippines has laggard during the marcos dictatorship. He had ruled for 21 years, thats more than 2 decades of missed opportunity.
@@user-ur6vp6jk1uthen naging mas worst pa nung time ni corykong kahit saan may corruption dating VP na nya nag expose mas talamak ang corruption kay corykong kesa kay Marcos hanggang sa minana na ng mga sumunod na Admin
The Phils. does not need to invest in capital goods/assets because our main industry is the export of workers (OFW) and professionals. So you don't have to invest in machinery, land or buildings or other capital assets. We invest in our people and their acquired skills then export them to other countries. Their dollar earnings are then sent back home , exchanged for pesos and increase our dollar reserves.
@@seannwilliam9557 Two things. The assets like factories, buildings and machinery add to the assets of the industrialized country. Also part of the earnings of our OFW and immigrants are spent on the host country adding to its GDP. Nevertheless our dollar earnings are bigger than most Asian countries.
I feel like govs too focused on Manila Lack of nationwide transportation infrastructure Unreliable Infrastructure(power, telecomms, water, etc) Politics and bureaucracy Lack of agricultural industrialisation lack of competition
1. The Philippines is improving it's transportation (roads, rehabilitation of railroads, airports, ports) since 2000s. 2. Depends on what area. But the Philippines has no water problem in general just Manila 3. The new administration is not corrupt 4. There are a lot of processing plants in my province specifically corn and rice ones.
No it isn't. He's the main reason. But let's be honest, it's the failure of every single president since then...and the failure of the Filipino people to keep voting for the same people, or rather families, in every level of government.
it was Aquino's fault, becuz, she sold everything own by government and dragged us down. and didn't continue marcos project such as nuclear power plant that will reduce cost our electricity that required for industrial plan. a country like philippines with rich of metal minerals, industrial plan by marcos should be achieve easily. we shouldn't export our raw metal minerals to china, if Marcos's plan was executed.. can you imagine just becuz her husband was died becuz of foreign intervention.. and she suddenly became president from house wife that didn't even serve any government position before.. 🤣🤣🤣🤣.. if we follow our law, next president it should be vice president of the philippines. not s2pid housewife.. 🤣🤣🤣. its clearly she sold everything own by government out of revenge..🤣🤣🤣🤣
@@Telfund38154172 Don't Blame now, Please Bias, and Be a Fan of Good News Instead, and Instead of Blaming, Our Government, and People needs to Think Optimistic, and Positive, because Blaming, and Negative News can lead to Early Death, High risk of Non-Communicable Diseases, and Blaming More.
@@nguyenthiminhkhai4316 Let me explain this in a simple way. Politically the Philippines is broke. Economically though it's doing well. Meanwhile Cambodia, Myanmar aren't that.
Literally. They are over-proud, they just keep flexing themselves on how powerful and talented they are, but even if they are talented, why the economy is still stuck in the middle? Vietnamese and Indonesian never show off, that's why they are so powerful.
Don't flex, focus on yourself.
There is nothing to flex to be honest and I'm sorry if some of my fellow Filipinos are behaving like that. We're still in the middle of construction of many infrastructure projects that is focused on transportation (railways, expressways and bridges), some of it are already past its 50% completion rate and hopefully some will be done in the next 2 years.
@@giripog28 true! I have lots of european friends who visited Manila last year and when I asked them about infrastructure, development and about transpo, they honestly said that PH needs to improve a lot because we are comparatively considered as less developed. True, we have nothing to flex yet.
Overproud aka Pinoy Pride was essentially a emotion case of coping mechanism. The third world political trends in modern times has not educating on globalization, but instead it fall back to insolation and nationalism combined with the history of colonization, majority of their national identity have been watered down to thinking that they're inferior race. Being insecure about their own color skin and identity will lead to inferiority complex and the only way to counter this feeling was to flex superiority complex aka crab mentality bringing down their own fellow people or other countries achievement to pet themselves to feel better. The internet of today are also making the world smaller and thus filipino internet users are more keen to seek validation especially from caucasian as it show their colonial mentality remains unchanged. People in Philippines don't vote their leader for merit rather they vote for popularity, most of them are uneducated they are like frog in the well looking up the sky and thinking that is everything they can see from within the country not to think further
I find that Filipinos are very arrogant and prideful despite their situation. They also love to deny their problems, keeps coping that everything is improving fast, and that they can take on China in an all-out war. Sometimes, it's better to be humble, keep to yourself, work hard to improve your life, and be ambitious.
The talented Filipinos however have the average IQ as 82? 😆
Philippines always allows for poor quality foreign investment. It does not need more call centers, it need more IT factories. It does not need more American bases, it need more American manufacturing. Why did Chinese and Korean factories moved to Vietnam, Thailand, Bangladesh, Malaysia and Indonesia but not The Philippines? Philippines is an island nation, yet it doesn't have a comprehensive proper port. That itself speaks a lot.
It all leads to Corruption..if you dissect the problem to it's core, it always leads to the Philippines chronic corruption at all levels..plain & simple
60/40 rule is theft and also what if no local invests in your proposal. It's a rule so bad, even Filipinos migrate for work
Corruption is the main problem.
Policies and subsidies also play an important part in our economic growth
No port?
wrong!
Subic, Bataan, Manila, Batangas, Cebu, CDO, Zamboanga, General Santos, Davao major ports!
Most of the people in the government are a bunch of actors and actress … what do they know about economic growth and infrastructure and increasing ppp
You think they didn't study before going to the government?
@@normalyoutube495 most of them didnt...
@@normalyoutube495it's obvious you're not filipino
@@normalyoutube495 Study only to cover the entire collumns of gossip magazine with saucy and ridiculous stories. Yes the education system must've work really great for them lolololl
I had a feeling this video would drop knowledge and facts and some Filipinos would defend the country's economic status. Typical Pinoy whistling past the graveyard. Hopefully it's that and not ignorance.
The answer to the question in the title of the video is situated in Article XII, Section 10 of the 1987 Philippine Constitution. That section in Article XII is also known as the 60/40 FDI rule. That is where foreigners can own businesses up to 40%, while the other 60% goes to a Filipino partner, particularly the local oligarch. As a result, certain problems like the lack of opportunities, low and unlivable wages, and brain drain, arise.
Our senators must look into this because it only benefits the ruling elite and not the masses
FAKE NEWS DILAWAN Video We are experiencing the Golden AGE of the awesome Leadership of Tatay Digong and Prince Marcos JR of the Marcos Royal Family with Trillions of Tallano Gold coupled Kill Kill Kill. We are like SINGAPORE with Tallano GOLD.
From an outsider, Phil is in deep trouble. They are now behind Indo, Vietnam as well making them same rank as the Myanmar, Laos etc. Of course, they are light ages behind Malaysia, Singapore.
CORRECT! THE VIDEO IS MISLEADING lol In recent years (past decade), the Philippines has retained itself as being one of the fastest economies in the Asia-Pacific region. The nickname "sick man of Asia" has been obsolete since the early 2000s.
Yes, Vietnam has grown faster than the Ph over the past decades, but saying Ph is growing "slowly and laggardly" is INACCURATE. Compare it to the rest of the world, and not just to Vietnam. Besides, Vietnam has already opened their economy to foreign direct investments, while Filipinos still worship their archaic, restrictive 1987 constitution LMFAO.
@@apinezstats2237 you should compare it to its neighboring countries, like Vietnam because we're on the same level, why tf you'd compare PH with some impoverished African country?
The fact is Vietnam has to suffer under four wars in 20th century, and they've only opened in 1990s and now they switfly caught up with the Philippines in terms of GDP. You don't think that's alarming? The truth is, the Philippines is a laggard.
Debt and Corruption most especially during the Pandemic.
1987 constitution is so strict. Favoring oligarchs + Philippines long history of corruption that made Filipinos not united and dismayed the way leaders run the country
FAKE NEWS DILAWAN Video We are experiencing the Golden AGE of the awesome Leadership of Tatay Digong and Prince Marcos JR of the Marcos Royal Family with Trillions of Tallano Gold coupled Kill Kill Kill. We are like SINGAPORE with Tallano GOLD.
Oligarchs who flaunt their wealth while their people are eating pagpag. Oligarchs who send their money into foreign banks. I have a suspension that the country's elites don't really want to develop the PH because it's easier to exploit it that way. Maybe it's all by design.
Nice…Missed watching videos from this channel, The current inflation got me so busy with work
Cronyism, corruption, every man for himself, lack of discipline, living only for today, all focus on manila while the rest are ignored.
I think having so many useless street children is also a big issue. You mfs been using corruption as an excuse for decades and have done nothing about it
Im living in Philippines and i dont want to live like this so as an individual, i am educating myself and at least do something different choose right everyday..
make the power sector generation stable and competitive in price meaning lower cost per kwh and sufficient enough to drive factories
Article XII, Section 10 of the 1987 Philippine Constitution. is also known as the 60/40 FDI rule. That is where foreigners can own businesses up to 40%, while the other 60% goes to a Filipino partner, unfortunately we protect our own oligarchs who abuse us anyway. foreign competition levels the field. vietnam, thailand and india have no similar laws.
60-40 Oligarchs Constitution
Ah yes, and having so many street children begging is not a big issue? Tell the women to start opening books, and closing legs🤣🤣🤣
Indonesia back then was poorer then philippines, but now indonesia is richer in term of GDP Per Capita.
Even indonesia has similar problem with philippines, corruption, natural disaster, archipelago, war against separatist.
So maybe.. Just maybe.. Philippines should learn from indonesia.. Because it is the most similar cases...
There is a certain part of the Philippine 1987 Constitution that limits economic growth. The Section 10 Article XII. That must be romoved.
The constitition cannot just be rewritten by mere leguslation or executuve order.
It limits foreign direct investment by letting foreign investors own 40 percent of the capital and the 60 percent would belong to a filipino.
Further, why build a factory in the Philippines where leftist influenced union workers would make unnecesary demand until the factory go bankrupt or leave. Or or thise leftist uiniin would let in allied armed communists in snd further destabilize the factory further by burning equiptments, stealing the guns of the guards snd so on.
GDP Per Capita doesn't always mean people rich Ex. Angola and Equatorial Guinea, and the numbers aren't that much different with a difference of only a thousand compared to Philippines.
Yeah almost all of the philippines, but theres a certain place in the philippines that that have a very high paying jobs and that metro manila and some foreigners are working there to if the whole philippines will become metro manila it will be a different story dont compare us to cambodia because our metro manila far ahead of them and metro manila is one of the richest cities in asean haha😂
Bad policies is what Philippines adopted from 1987. Just like the Soviet union, you gradually self destruct. Change must start at policy level, if only politicians understood every year these policies remain-investors will choose Taiwan or China or Vietnam, Singapore etc. Noone will bring money for comrades to take 60%
I agree that Philippines can learn a trick or two from Indonesia but we have to also note that Indonesia has way more natural resources, fertile islands, and more stable climate. Philippines is hit way more often by typhoons and earthquakes than Indonesia.
the problem is in the Philippines, it's the different policies of our leaders that's why we don't progress, there's another problem with cheap electricity so our investors don't come in and the lack of strategies of our leaders
Philippines used to be the sick man of Asia. Now, the laggard [an improvement?]. C'mon Philippines don't be cheap. Spend like there's no tomorrow.
The current admin is already spending a lot of money on infrastructure that is focused mostly transportation that will ease its problem on efficient movement of goods that affects a lot of industries. The only issue now is opposition loves to counter the spending on these projects because it is ballooning the country's debt. They don't understand that once these projects are all done and being used by the people, it will surely be a catalyst for the economy of the country to perform better.
I'm starting to believe the top 1 major problem our country has is lack of leadership and clear goal. Although we have corruption it's not the main problem. We need to have focus and clear goal and just work on what really matters, our strengths, instead what we have unclear goals and that makes our country quite lost. If we have focus and clear goal and solid system I believe we can win this. You have a goal you win oncw, you have a system you win everyday.
Philippines main exports was Filipinos themselves as OFW.
Exporting people is called trafficking. It's a bad policy and failure by politicians to cool down an economy. How do you export a human being. What if he/she decides not to send a cent home?
South Korea did the same thing in the past, except their purpose is very different. They sent their people abroad to study, observe, and learn before they come back and implement it in Korea. Filipinos immigrate for another reason, to make money and permanently stay. South Korea sent their nurses even to Egypt, which is more medically advanced during that time, for them to learn gain experience and return. OFWs should have the goal to eventually return asap and establish businesses or practise locally, applying what they learned abroad. Save some capital, send themselves to school, do not get content working laborer jobs. I noticed the difference between East Asian and Filipino immigrants: East Asians work basic jobs with the goal to eventually go to school, Filipinos seek permanent employment with basic labor. Even old East Asians go back to college/uni while Filipinos make a lot of excuses like "putang1na I'm already too old for school".
@@dwargonedragon794 cold countries are better...better geography and landscape...no reason to choose the Philippines TBH
@@AndrewPremacio Yes, agreed. But it's good to have loyalty to your homeland. PH won't improve unless most Filipinos, rich or poor, does the best for the country.
Besides, it gets tiresome being targeted for racism or just being unwelcomed by the locals. Have the mentality to make deserts bloom.
@@dwargonedragon794then leave now
I hope so
Too may nosey vloggers about the Philippines.. saying Philippines failed, disaster, doomed, poor etc.. And yet we are now currently, still going on..still alive and full of hopes. YOU GUYS JUST JEALOUS FOR US FILIPINOS BEING POOR.
Please enjoy what you have and don't bothers us Filipinos in the Philippines 😊
Philippines has lots of problems.. even though we may not be rich.. atleast we make ends meet. We need to appreciate the simple things
Send all Senate member to school again. Study basic education.
Question, if the world economy goes down, which of the 2 countries do you think would be the safest, USA or Philippines?
Phil of course - because we have been in that state - we have still land to toil, ocean to fish, go to the province, we have still water to swim on.
@@zethcao11 Having natural resources doesn't mean you're country will he rich take a look in Switzerland super developed and rich country but it has no natural resources and reserves. 😂😂😂😂
@@paolosantiago3163 I am just answering the question if the economy goes down, and this means all the industries will go down, for me as a farmer I can still eat, I am only talking here as an individual not representing the whole country, it is just a kind of joke.
USA tons of external & enternal debts into trillion dollars and lately it was reported printing new money again… scary. That’s cause inflation. Ordinary people can’t reach anymore the cost of foods-……still Philippines is much better position.
Philippines is safer. Just look at your ageing population, their kids send them to homecare then take their assets.
The Philippines' economy has been growing at an over 5% annual clip over the past 20 years and accelerated into one of the fastest growing in ASEAN at over 6% in the last decade (among the fastest in the world according to statistics from the biggest and most credible financial institutions like the World Bank, Asian Development Bank, and the International Monetary Fund). That's until the Pandemic wreaked havoc on the planet, However, it has since recovered its pre-pandemic numbers. It has one of the most acclaimed Central Banks, which has managed the country's finances well. That's why it continues to improve its credit rating. In the meantime, it has also opened up to Direct Foreign Investments a bit that would help push it to become a trillion-dollar economy by the 2030's. It's right now in the midst of its so-called "Golden Age of Infrastructure development." I think it's quite a reach to call it a laggard still. That' a dated perspective when the country is now poised to become one of the leading ones in the region in the foreseeable future. Maybe up until the 1990's you can still call it a laggard, but I think things have dramatically changed for the better since then. And that's not just wishful thinking as it's backed up by facts and stats. Sure, there are still large problems to hurdle, but it's getting its act together. It's not at all the doom-and-gloom scenario that your channel is trying to paint in this particular video.
PH was one of the most promising investment destinations in the '50s and 60s & second only to Japan's per capita income ($1100) with ours at $1030. Many of our neighbors like Korea looked at PH as an impossible dream, bec. we were far richer than most of Asia. Investments grew despite the fact that PH was an archipelago frequently visited by typhoons, volcanic eruptions, earthquakes & calamities. Ergo, it's the communist & MNLF/MILF insurgencies, corruption, oligarchism, poor savings mentality, cronyism, and political and economic mismanagement of the 70s, 80s, and until the 90s and poor capital formation below 20%, way lower than our neighbors of 20-30%, that led to our poor economic growth. It was only with the growth of OFW remittances and the BPO & services sector, (thanks to US occupation) that fueled domestic consumption & coupled with more reforms & infra projects implemented by PNoy and PRRD that PH grew exponentially. We hope PBBM can continue more reforms and grow our FDI and improve our weak export & agri sectors too, to further push our growth. Filipinos should mature as a nation and stop fighting over political colors which is causing us to be divided. Though I'm not a fan of BBM, I believe this is the essence of BBM's unity plea, and we should heed it while staying vigilant of any gov't. irregularities in the future.
Wrong GDP per Capita was $263 only
Because Taiwan and Korea was administered by Japan, they inherited Japanese practices on property rights, legal system, taxation, registration, education, vaccination, civil service, infrastructure, law enforcement, etc. Many of the political, economic, and military leaders received the same/similar education as their Japanese counterparts. For that reason, it was much easier for them to emulate or even continue Japan's economic policies after their independence.
Unlike the Philippines or the US, Japan had invested heavily in Taiwan and Korean peninsula during Japanese administration, setting up schools, universities, hospitals, railways, roads, dams, factories, industries, infrastructure, etc. By far the most important investment was in their education system, from mandatory education to university. (Of the 7 Imperial Japanese Universities that existed, 1 was in Seoul, 1 was in Taiwan, and 5 were in the Japanese Isle.)
In the early decades after independence, Singapore and Malaysia also meticulously studied and learned what made Japan recover so quickly from the war. Unfortunately, Philippines was politically unstable and too busy with maintaining domestic security. I still remember a Japanese company executive saying that in the Philippines, imported merchandises sometimes magically disappear from ports, unless you paid extra to port officials.
It's easy to blame officials for corruption, but they're not getting paid enough because the government couldn't fairly tax the economy. Former Spanish colonies across the world similarly suffer from economic disparities, lack of infrastructure, weak government institutions, weak tax regime, skewed land ownership, and domestic violence due to social injustice...as a legacy of colonial rule. So I don't think the problem is unique to the Philippines. if you compare with former French colonies, the problem is relatively fixable.
Very good observations
I had to double check just to make sure it wasn't me speaking here.😁
I think I've found my doppelganger in you 😁
Cheers!
No . I think the biggest problem in the Philippines is that the consciousness is still post-colonial. Lack of progress, sense of independence. The colonized still thanked the colonizers after independence, without any self-respect. This spirit determines the upper limit of the Philippines' development. What the Philippines needs most is a spiritual makeover. Finally, stop indulging in religion. Religion is a drug.
just a few things that contribute to a bad business environment:
1. geography - we're not a single mass country making the movement of people and goods difficult.
2. lack of incentives - very little in the way of attracting businesses.
3. lack of infrastructure - poor communications and road infrastructure.
4. high taxes - the Philippines has once of the highest corporate and income tax in the region.
5. politics - politicians are more concerned about staying in power rather than doing what's good for the country and its people.
6. education - level of education is no longer at pace with the demands needed to be globally competitive.
Too many national and regional government employees. They have devolved or transferred their work and functions to the local government but still have the same number of employees receiving salaries
From an outsider, Phil is in deep trouble. They are now behind Indo, Vietnam as well making them same rank as the Myanmar, Laos etc. Of course, they are light ages behind Malaysia, Singapore.
Lmao. Philippine GDP is neck and neck in competition with that of Singapore and Malaysia and is still ahead of Vietnam GDP. The only two countries we cannot touch is Indonesia and Thailand
@@pongpong123able4 now turn to GDP per capita and it will show the real picture if the Philippines really stands on the same level as Singapore and Malaysia 😂
@@khust2993 well if you go by gdp per capita, then the US and China are not superpowers..they are middling countries compared to the wealthy per capita nations of Qatar, Brunei and Luxembourg lmao.
See? GDP per capita means nothing. Brunei couldn't even hold SEA games because they can't afford the infrastructure. India has a very low GDP per capita but is now considered a global economic power in terms of gross wealth.
In SEA, Philippines ranks somewhere in the third or fourth places next to Indonesia and Thailand. We are no longer a laggard economy nor a sick nation
@@pongpong123able4 huh i mean the reason why brunei and luxembourg rank high is cuz of their lower population. there are portions of the US and China (like let's say cities like NYC and Shanghai) that have the highest gdp per capita in the world (gdp divided by the population of the city). GDP per capita doesn't mean and say everything about our economy, but it does talk about how much wealth and value we generate in our economy per person. Since the Philippines has been lagging behind its competitors with regards to gdp per capita, we need to probably look at how wealth is not being distributed fairly in the country or how development is not spread to regions of the philippines that would otherwise benefit from it.
Like sure, the fact that we have a larger gdp than vietnam does give us maybe more leverage when it comes to us being an importer of trade as a consumption based economy. Our government has a higher gdp to tax that can be spent on defense and infrastructure, but we need to keep in mind that we still generate less value per person... so we're not being as productive as we can be. When onions ended up costing more than meat at one point, you gotta ask some tough questions on whether or not the economy is being run right...
@@pongpong123able4 phil is defferent fr the rest after 20 years w gas and oil exporting.sabah and china island claim return to ph.reminder US base wil put in balabac palawan near spratlys island and sabah.every inch of teritory will not abondone - marcos jr.
Open your mind and eyes
....to our total denial
It's growing slowly but surely. Unlike Vietnam, Cambodia, Malaysia which are growing really quick but then fall.
Cambodia has problem, but Vietnam, Malaysia are hard to underestimate.
@@evernam993m8 Malaysia has literally been an upper middle income country since the 90s yet it has not become developed. It's like the Philippines which has been a lower middle income country since 1994 but hasn't gone up into upper middle until recently.
I agree that we are growing slowly but surely but I'm not so sure that the other countries you mentioned are bound to fail. However, they are currently exhausting their natural resources while causing environmental pollution, issues that aren't a concern for the Philippines at this time. Knock on wood. Instead, we have the OFWs and the BPO to thank for our healthy international reserve balance.
@@s.t.santos5928 I did not say those mentioned countries will fail. I said they are growing fast but so fast that is unstable.
#LabanPilipinas
What laggard mean
Lagging behind; taking more time than the others in a group.
PH scored lower in covid response?
They built this herd immunity to covid by vaccinating 75% of its population. We have 110M people here in the philippines with an area on 300,000 sqm.
And the government failed in covid response? For a THIRD WORLD COUNTRY, i would give credit to what they have done for their people
The Philippines had done better as compared to its neighbors in Asia and probably 10x better than some countries in EU and US..
@@JayCarlz-sj2xp Japan’s response to covid is far more sensible than Philippines. With just medicating on ivermectin, they’ve brought down a huge fraction of covid cases more than Philippines did.
Philippines makes it hard for people to invest in the country due to it policy of 60/40 split in starting a business. 60% must be own by a Filipino. You can not even own land to build a home if you are from another country. That makes it hard to move there and invest in the country, so only their rich get to make things happen. That keeps new ideals from taking place!
the root cause is the government system until filipinos realize that what they need is charter change no matter how good the government administration it is.. it wont grow
I was a political science student in college (2002-2006). This was a legit topic then. Why was the Philippines a laggard in development. but this is seriously incorrect today. Our GDP growth rate from the last 13 years is among the highest in asia on average. So drop the agenda and stop being stuck in the 90s narrative
THIS IS MISLEADING lol In recent years (past decade), the Philippines has retained itself as being one of the fastest economies in the Asia-Pacific region. The nickname "sick man of Asia" has been obsolete since the early 2000s.
Yes, Vietnam has grown faster than the Ph over the past decades, but saying Ph is growing "slowly and laggardly" is INACCURATE. Compare it to the rest of the world, and not just to Vietnam. Besides, Vietnam has already opened their economy to foreign direct investments, while Filipinos still worship their archaic, restrictive 1987 constitution LMFAO.
@@apinezstats2237 Philippines has grown steadily since 2003.
Philippines need to invest in manufacturing to the world where it can be competitive. Like ev technology and solar energy. To many brown outs.
Car and tech market is already saturated so yeah, I guess Philippines can go for the niche route like green energy manufacturing. Maybe look at their natural resources and build facilities to process them instead of exporting it raw. It's also good if they can make finished products from those resources. Like maybe batteries. Weapons manufacturing might also be a good idea. Philippines already has a talent for making guns. Maybe they can compete with US for guns and ammunition manufacturing.
@@dwargonedragon794True!
It is happening fortunately
By 2040 we will transition to solar energy
very good topic
it also touches the key points why the Philippines has failed to catch up or be better to its peers. it is also true that there have been incompetent leaders, but i would say there are too much leaders or elites in the government that time that it failed its country with its politickings. especially they focused too much in the Manila. Now that social media gave access to the people of North to South. NCR people are now just a minority of opinion now that people have more power to sway the public. basically, opinion doesnt have to be as bias as it used to be in the NCR since now it involves the country as a whole.
Integrity is the most underacknowledged economic ingredient.
Felt sorry for Philippines...forget about other Asian powers as Japan, and the four little dragons. In ASEAN, Philippines could only see the rear light of Brunei, Thailand, Malaysia and Vietnam. Even Indonesia is taking the lead now and Philippines has fallen into pathetically the poorest category of the authoritarian Laos, Cambodia and Myanmar
What the Philippines needs most is authority. Drastic reforms.
Follow my advice government you will prevent or ase up too much corruption
This video would be correct in the 90s to early 2000's. Not today. This video seemed to have ignored the developments and data of the last 13 years
FAKE NEWS DILAWAN Video We are experiencing the Golden AGE of the awesome Leadership of Tatay Digong and Prince Marcos JR of the Marcos Royal Family with Trillions of Tallano Gold coupled Kill Kill Kill. We are like SINGAPORE with Tallano GOLD.
Good point. Unfortunately the last few years seemed to have lost the gains of the past few decades...and it's not bec of covid
@@alexbonilla1143 gains from the past few decades? We were the sick man of asia in the last few decades. it was only since 2010 that our economy began to become resurgent, reaping the fruits of the BPO industry that was crafted during PGMA's time. Since then our fast growth was consistent every year. It was only during 2020 when Philippines experienced negative growth because of COVID and it rebounded easily in the following years. Our growth rate for 2022 was among the highest in in the past decade.
@@pongpong123able4 Point taken.. The Phils was names sick man of Asia in 1987 following decades of abysmal performance. That headline was used I think by Newsweek or Time magazine in '87. There have been considerable strides since then especially throughout first half of 2010s where GDP growth ave 6.5-7% poverty dipped to below 18% and gross reserves reached record highs... of course Im sure people will believe what they choose to believe.
@@alexbonilla1143 this is the data re Philippine GDP growth rate from 2009-2022. Our annual growth rate was consistent not just in the first half of the 2010s but all the way to the present. The only year we had a problem was 2020 (the whole world experienced negative growth) and in 2021 where we only posted growth in the 5 percent range (but it was still a remarkable recovery from COVID compared to most countries in the world). In 2022, we climbed back to 7 percent range. So political bias aside, we are doing fine regardless of who is elected president
2022 7.6%
2021 5.70%
2020 -9.52%
2019 6.12%
2018 6.34%
2017 6.93%
2016 7.15%
2015 6.35%
2014 6.35%
2013 6.75%
2012 6.90%
2011 3.86%
2010 7.33%
2009 1.45%
Source:
www.macrotrends.net/countries/PHL/philippines/gdp-growth-rate
psa.gov.ph/content/gdp-expands-72-percent-fourth-quarter-2022-and-76-percent-full-year-2022#:~:text=The%20Philippine%20Gross%20Domestic%20Product,full%2Dyear%20growth%20in%202022.
In the 90's maybe went bpo is nor trending
this explains why there are no proper sewage treatment plants throughout the country
May God discipline those leaders, in the govt.involve in corruption?😭😭
Reform the law and order an arrest to all corrupted, arrest them all because they have no love for there country to developed and reach higher in science, economic, manufacturing, etc, that no nation will be expected it.
Arrest who? We might need to build another high end prison to fit most members ng congress pa lang. Di pa kasama ung mga nsa customs, BI, DepEd, DOH, etc. 😂
@@curiousinkorea91 ah this is just my opinion don't get serious i am just a SHS student who knows nothing about stuff that you said. I said what i saw in my opinion
pwease go easy on me
Wla talaga ako lam oke HAHAHA
How can you arrest most of your Oligarchs then? They are untouchable and the gullible Filipinos worship them. Now I wouldn't mind if they are like SKorea's Chaebols who actually developed their country, but your Oligarchs created policies to keep themselves in power in exchange of keeping the country poor. Maybe they even don't want to improve the country bec it's easier to exploit it that way. Keep them poor, hungry, and uneducated.
we need to change our constitution, our constitution is based off the US, it might work in the US but not in the PH.
Old saying goes on and on
The Philippines already died when we had the 2nd republic, which lead to the election of crony capitalists and bastard government officials. The Trillion Dollar projection of the economy will just become another sham and will just benefit the extremely rich minority.
If I have a chance to leave this hell hole of a country - I would, but sadly, I cannot because my meager wage doesnt allow me to, and I work at an american company stationed here in this country.
Philippines killed manufacturing because
Of high electricity rate. Intel leave the
Philippines because of high electricity rate.. Philippines OFW sends 30 billion
Dollars in remittances every year where
It goes ?
oligarchy since Spanish time. The dominant families are still them, hiding on their proxy, they are retaking the lands from the poor people again.
One of the main reasons for the decline of the Philippine economy from the robust 50’s and 60’s, was unfortunately the declaration of martial law by Pres. Ferdinand Marcos in 1972. This autocratic rule turned off most rich nations of the world and withdrew their support of the Marcos regime till the 90’s when again the closure of Subic snd Clark US bases contributed also to this economic decline. But of course the delayed implementation of land reform, ( when Japan, South Korea and Taiwan finished their land reform early ), high electric costs and corruption have also been contributing factors. This decline continued also because of the oligarchs in the country and unequal distribution of wealth which resulted in the lack of local investments, with the rich and powerful politicians who were only interested in their welfare and not the country’s future.
Today, Pres. Bong Bong Marcos who was mostly educated in the west, Oxford in the UK and Wharton in the US, may hopefully change things for the better. PH should hasten the development of it’s vast oil and gas potential reserves ( which could lower electricity and solve it’s economic problems ), then eliminate corruption, in order to continue its fast economic recovery.
FAKE NEWS DILAWAN Video We are experiencing the Golden AGE of the awesome Leadership of Tatay Digong and Prince Marcos JR of the Marcos Royal Family with Trillions of Tallano Gold coupled Kill Kill Kill. We are like SINGAPORE with Tallano GOLD.
But behind the reason why there’s martial law you should consider that
Imagine ph w/o yellow evil
@@richardunica3542 FAKE NEWS DILAWAN Video We are experiencing the Golden AGE of the awesome Leadership of Tatay Digong and Prince Marcos JR of the Marcos Royal Family with Trillions of Tallano Gold coupled with combined vison of Kill Kill Kill & Unity. We are like SINGAPORE with Tallano GOLD.
You forgot to mention when People’s Power Revolution was enacted foreign investments lost confidence in the Philippines and it forced them to default on all their foreign loans. Which caused a whirlwind of investments to leave the country. Which lead to the OFW culture
It’s still is
#🇵🇭 #Cardano
PH has never really invested in industries. Early on it relied on sugar free trade with US. When that stopped during Marcos senior time, it exported its people. PH survives as an import economy because it exports its people instead. This causes social scars in the families involved. Instead of industries we have malls and real estate properties as the biggest money earners. All reliant on OFWs. Duterte started some capital investment, Marcos should do more. As long as PH is reliant in exporting its people instead of producing goods and services it will never develop.
It all boils down to the Philippines restricted constitution against foreign direct investments
CORRECT! THE VIDEO IS MISLEADING lol In recent years (past decade), the Philippines has retained itself as being one of the fastest economies in the Asia-Pacific region. The nickname "sick man of Asia" has been obsolete since the early 2000s.
Yes, Vietnam has grown faster than the Ph over the past decades, but saying Ph is growing "slowly and laggardly" is INACCURATE. Compare it to the rest of the world, and not just to Vietnam. Besides, Vietnam has already opened their economy to foreign direct investments, while Filipinos still worship their archaic, restrictive 1987 constitution LMFAO.
That's bs, China also has restrictions in foreign investment and they managed to prosper. Meaning, the problem is something else.
@@khust2993 What kind of restriction is that, specifically?
Just so you know, Philippines' economic restriction is embedded in its constitution. It literally DOES NOT ALLOW FOREIGN OWNERSHIP of crucial industries. It's so restrictive to the point where foreign investors have constantly begged the PH government to ease the restriction.
@@khust2993 magbasa ka muna bago magbitaw ng BS.
@@khust2993 china has manpower
the Title is hideously misleading, ignorantly biased and purely stupid. It look like the Video Creator had a biased negative views of the Philippines and much side with leftist-liberal perspectives, in regards to many criticisms about the country's Economy.
Bulok naman talaga pilipinas
Golden age during marcos?? Mehhhhh
@@senpai4749 With 7.6% growth rate in 2022 and you call the phillipines a laggard economy? perhaps research is not your thing.😢
@@ApoWangOd92333 so happy ka na yarn?
@@Ymats-dj1nt Oo happy kami di tulad nyong mga UTAK NPA na wala ng naiambag sa bansa mga reklamador at karamihan mga terorista
Education is the key here, but most Filipinos don't have good quality education that's why they keep voting the unworthy government officials who are corrupts., The population keeps growing but educated persons had diminished resulting to lack of job opportunities in business and inflation rate! 😢
> one BIG EXAMPLE is the wasted/unused BATAAN NUCLEAR POWER PLANT that has domino effects to slow down the Philippines economy... if this power plant was used before = it will be very beneficial...
The answer is Tallano Gold
WTH???😂😂😂
Nasaan yan, ogag? 😂
😂😂😂😂😂
Fantasy/propaganda.
dont believe in fairy tales laddy
ONE OF THE FASTEST GROWING ECONOMIES LAST 2022 with 7.6%.. and NOW YOU TAGGING PHILIPPINES AS A FAILED OR LAGGARD ECONOMY..? How it come ONE OF THE FASTEST AND THEN THIS CHANEL SAYING LAGGARD but not only in ASEAN HUH but in entire 48 countries ASIA😩
malaysia 8.7 , vietnam 8.0 ......
do you believe in luck ?
Marcos Jr. should stop messing around in the South China Sea and clean up the mess at home. The Filipinas are gonna be great again when all the slums area are gone for good.
There are more poorer nations out there. Exaggeration.
Philippines can start by narrowing the trade deficits it had with 8 countries! Specially china! Put on tariffs on some Chinese goods that enters the Philippines! Zero in the wide imports it does just to facilitate common commodities like sugar and rice! By subsidizing heavily on medium and large farmers! Up the the high end manufacturing by providing better infrastructure for to foreign investors! Be liberal on fossil fuel mining in the country that way Philippines doesn’t have to import massively on foreign energy! Support local mining companies! On extracting rare earth.. in short? Start industrializing! Philippines is late on everything!
Tariff is a double edge sword. U put tariff on your trading partner n they will do the same to PH. In the end PH exporters suffers too.
Hear O Philippines Rejoice Michael the great prince of Israel has been born in the flesh and walking among us the sons of Israel. The wonderful BIRTH of revelation 12 is fulfilled in Michael. If not Michael Who?
Michael shall remove all poverty from the Philippines before your face.
From Michael the Jew and son of Yah.
WTF?? you crazy?
With the support of the people, president Marcos can
Our growth model are working as formulated by our top and well educated economists in our government.
FAKE NEWS DILAWAN Video We are experiencing the Golden AGE of the awesome Leadership of Tatay Digong and Prince Marcos JR of the Marcos Royal Family with Trillions of Tallano Gold coupled Kill Kill Kill. We are like SINGAPORE with Tallano GOLD.
Yeah right, that's why most of us are still poor. If we are not going to make any drastic changes our country will stagnate and will not prosper. Better go to another country
Probably. It might be by design because these politicians and elites only care about enriching themselves as they've inherited from Spain. This is why they hold on to power and eliminate every competition be it political or business via assassinations, threats, or unfair laws. In Confusian societies, the elites are obliged to give back to the society.
I watched your 4 videos and it's all negative 😂
But it's the truth. Truth hurts
@@zachdwight1385 With 7.6% annual growth rate in 2022, and you call the phillipines a laggard economy, perhaps research is not your thing.
@@ApoWangOd92333 lol. How much is ph's gdp per Capita? Gdp per Capita is the basis if a country's population is doing well. You do your research.
@@ApoWangOd92333 vietnam is much better
@@zachdwight1385 That's not true. Look at countries like Angola and Equatorial Guinea having GDP per capita way higher than Indonesia, do you think people there live well......I don't think so....
Behind Philippines almost always post negative things about the Philippines where in fact the country is growing at record pace in the past 4 decades.
😂
You're a clown. I wonder if you're actually seeing the fruits of that "record pace growth" 😂
with the best intentions: please wake up and learn from what this guy has shared, instead of being one of the typical "nakakafroud ako to bi Pilipino" drones. we both live here, but how can we tolerate the extreme poverty around us? we may be middle class and up, but all the beggars, slums, homeless people around us are not. 18% live below the poverty line, teenage pregnancies are everywhere which means unsustainable population growth relative to our lower GDP, we are far behind with gross capital development/growth.. so the government needed to do something drastic about this yesterday.. while our neighbors have reduced their poverty figures and managed their population growth to single digit figures (Malaysia 4.8%, Indonesia 8%, Thailand 4%, Vietnam 6%) we are back at the "sick man of Asia" label.. whatever development is happening here, it's clearly not enough and is the wrong type of development. it should be 3-4x the pace and be more aggressive AND not forget one of the first aims should be to stop extreme poverty and help the poorest become lower middle class at the very least. that includes all the things this guy mentions. didn't you hear the latest speech from PBBM where he forecasts our country reaching a medium economy by 2040?? during PRRDs time it was thought to have happened by this year!! indonesia reached it, while we did not. economically speaking we're still on the same level as Nigeria, Kenya, Bangladesh etc. watch a "walking in Nairobi" video and you'll see it's identical to Manila. watch a "walking in Ho Chi Minh city" video and well alam mo na... there's still so much for our government to do and unfortunately they keep making the wrong decisions. Our corporations are strong and intelligent, that's why they're oligarchs now, but our government is not smart. Open the Philippines to FDI to get our gross up, and equal out development regionally in budgeting, coupled with an aggressive public rehousing programme for the poor to stop Filipinos living in extreme poverty and unecessary suffering. but tell that to our trapo and highly xenophobic and corrupt senators... our ASEAN neighbors can see it and feel bad for us, but so many of us are blind and manipulated by our corrupt govt and corporations.
@@derbdep The situation much worse during the Aquinos admin. Now at least we can see changes with our bad culture in politics.
@@Ilove-zc1zm I agree 💯%, but its not as high as it should be right now. despite the pushing from GMA, RRD and now PBBM, it's not moving quick enough. we still have too many trapos and corrupt and xenophobic elites here who want to keep the money within their circles. we keep slipping behind. we need to put pressure on the guilty departments to step up their development. these are National Housing Authority, DOH, DPWH especially. it is their responsibility to develop our country and lessen poverty and inequality, but we always see scandal after scandal involving them. we also need a string PRRD style iron fist to stop pushback from dinosaur senators who are greedy or selfish. we all know who they are but no one will name them because it's still so unsafe to say the truth in public. I always hope and pray the right people are brought in to our government to help with the correct level of development needed for us to escape this laggard role in ASEAN.
I think Philippines is growing fine, all the best from 🇮🇳
They don’t like you
Thank you, my Indian friend!
🇵🇭❤️🇮🇳
presyo ng kuryente sobrang mahal kaya nag alisan ang mga kompanya dito
Kasi nga ay bumibili tayo ng oil sa ibang bansa dahil konti lang nakukuha sa malampaya at wala pa tayong nakukuha sa mga oil drill ngayon hindi gaya ng mga asean neighbors natin ay marami ng nasisipsip sa oil drill kaya mas mura kuryente nila.
@@juandelacruz3134 Is because unlike their governments, Philippine government doesn’t want to subsidise for gas and electricity hence our high electricity rates. If our government wasn’t too greedy then they could’ve brought costs down more and attract businesses to come here more.
@@juandelacruz3134 Kahit bumibili tayo ng oil mula sa ibang bansa kaya nating magtayo ng maraming power plant upang dumami ang electricity production natin at bumaba ang halaga ng kuryente. Political will talaga wala dito sa Pinas
Corruption, too many
To call the Philippines a laggard economy at this time is simply inaccurate. The Philippines continues to grow DESPITE corruption at all levels of governance - from Barangay to the Executive Branch.
There are 2 factors why the Philippines isn't growing as much as it should, in my opinion:
1- Unlike most of its neighbors, the Philippines is archipelagic, not landlocked. The number of roads, bridges, seaports, and airports that have to be constructed to connect the islands is staggering. If those amounts were invested in manufacturing, instead, we could have been a powerhouse, something that I'm not too keen to happen, anyway.
2- We have to import oil, unlike most of our neighbors, and that takes up the bulk of our deficit spending. I hope PBBM focuses on drilling for oil and gas in the WPS to reduce our dependence on imported oil.
The good news is OFW remittances and the BPO industry more than make up for what we lack in manufacturing revenues, for now. Slowly but surely, I think we are headed in the right direction.
Yes, slowly but surely everything takes time..we still get there for sure.
In other words, the biggest obstacles of the Philippines is Geography - and that includes bad climate and calamities.
On point sir!! Great insights! Pure facts!
3rd.. we are the number 1 (or one of) country in terms of natural calamities
Damages takes away money and even rebuilding yet again requires huge money instead of being used in other things
That is why the best way to increase the country's overall production is, like Japan, to get the income sources mostly from the outside the country - OFW, BPO, corporate investments and franchises abroad, Sovereign Wealth Fund (like the Maharlika SWF) and international trade - instead of pushing ourselves to produce goods, services and fixed capital locally.
With 7.6% growth rate in year 2022, and you call the phillipines a laggard economy, perhaps research is not your thing. 😢
@DodongMarino if you can't accept the truth, then you are part of the problem.
If your western ally are very undependable and does not invest in you, this will happen. West makes japan korea malaysia singapore rich, while philippines stuck with crumbs and leftover investments. Only way is to integrate asean economies more like eu style, cutoff western influence in asean
this is correct.
The problem itself is in the Philippines. Western investors can't fully invest in the Philippines because of its constitution which limits the ownership and investments of direct foreign investors.
Less investors = less job opportunities= poverty= crimes, migration of professionals to other countries which can result to brain drain phenomena, socio-political instability, lesser market competition, etc.
Thailand, Singapore and Malaysia are also ASEAN countries and a lot of their investments came from western countries and it is because these countries have open market economy unlike the Philippines.
@@shirokawaken5170 Well, foreign investments wouldn't be so much of a factor if the country's elites are actually competent and aims to develop the economy. South Korea and Japan is mostly run by their own corpos and they did just fine. The big difference is culture. Philippines has mostly medieval Spanish system where the rich only concern themselves with their own money and power. Confucian societies had everyone work for the benefit of their society, not just themselves and their family.
I've lived out here for years. Corruption is still a massive problem, and Marcos is a moron. They elected the wrong person
Accurate. Idiocy in governance redounds to pepople's ignorance. How can we grow if all information children get are misinformation and fake news- a ploy to mislead the people from criticizing policies. Giving dole-outs or pay outs create a delusion of contentment not to strive and create opportunities. Politicians dwell on getting patrons of minions rather than create laws to upgrade the overall situation. People deserve their leaders.
Maybe ur content not accurate something negative and bias,, very Bad, #notoBA ,,,,
I think the biggest problem in the Philippines is that the consciousness is still post-colonial. Lack of progress, sense of independence. The colonized still thanked the colonizers after independence, without any self-respect. This spirit determines the upper limit of the Philippines' development. What the Philippines needs most is a spiritual makeover. Finally, stop indulging in religion. Religion is a drug.
THIS IS MISLEADING lol In recent years (past decade), the Philippines has retained itself as being one of the fastest economies in the Asia-Pacific region. The nickname "sick man of Asia" has been obsolete since the early 2000s.
Yes, Vietnam has grown faster than the Ph over the past decades, but saying Ph is growing "slowly and laggardly" is INACCURATE. Compare it to the rest of the world, not just to Vietnam. Besides, Vietnam has already opened their economy to foreign direct investments, while Filipinos still worship their archaic, restrictive 1987 constitution LMFAO.
Wake up
@@IQ1231LSthis is what u called pinoy overpride 😂
No😊
Behind Philippines yesterday : Philippines Rising tiger of asia
Behind Philippines today : Philippines Failed economy
Behind Philippines Tomorrow: Philippines top 5 Richest Country 2026 😅
Stop dellusioning yourself 😂😂😂😂.
FYI, USA has the worst case, philippines economy is actually improving. But inflation hits everybody.
Education is the key. Today's future leaders are learning from current strategist. So it carries forward. Filipinos learning and educated from industrialized nations are staying on where they learn it because its not worth coming back to practice what they learn and most of the time its not applicable to a specify economy
Behind Philippines ALWAYS POSTS NEGATIVE articles about the Philippines. You are loosing your credibility FAST!!!!!
Lets just call this channel BEHIND EU AND US from now on since its OP is obviously a wstrn shill
It's the truth...do you experience or enjoy the improvement in our economy?
@@IQ1231LS I do. No more NPA'S at our place. The best there is. 😍
@@heyitsajmartinezdon't count on it
Despite of having NPA terrorist, liberal party, drug cartel in country the Philippines still the most blessed for good weather, Good beaches, nice people, full resources metals, stone, gas oil and a top of that ...we have God
MAKE THE PHILIPPINES GREAT AGAIN 💖
FAKE NEWS DILAWAN Video We are experiencing the Golden AGE of the awesome Leadership of Tatay Digong and Prince Marcos JR of the Marcos Royal Family with Trillions of Tallano Gold coupled Kill Kill Kill. We are like SINGAPORE with Tallano GOLD.
It was never great. The Filipino mentality is the greatest obstacle the country is facing.
No the Phil. Will noy great again why because of its politician and gullible voters like you a fanatic.
Again? Lol since when? In your dreams
@@shirokawaken5170
Since you learned how to analyze your wet dreams... LOL
#NoToCommunistGaylords
The situation much worse during the Aquinos admin. Now at least we can see changes with our bad culture in politics.
Which Aquino are you talking about? If Cory then yes I agree. If Noynoy then not as accurate. If you say that then BBM administration is just as bad. Noynoy and BBM are not as different. Slowpokes who are weak in leadership and are easily controlled by their own crony buddies but at least not as corrupt as Marcos Sr, Erap and Arroyo.
@@ophanimangel3143ARROYO? CORRUPT? WHAT?
So many infrastructure projects were built during her time and economic changes.
Because of dilawans economic policies and mediocre leadership
Eh, are you saying BBM and his cohorts are dilawan? Uniparty evidence here 👈🏻😂
Unsub
The geography of the Philippines Doomed it, Building bridges can cost millions or billions of dollars.
Japan & Indonesia is laughing at Philippines backward mindset like this
Because of Yellow thieves now is pink
Move on. Yellows and pinks are not the ones running this country now. You know who.
🤡
PH economy has dwindled down rapidily starting from the mid 70's which is under the marcos' regime. The data dont lie. While other asian countries continued to develop, the Philippines has laggard during the marcos dictatorship. He had ruled for 21 years, thats more than 2 decades of missed opportunity.
@@user-ur6vp6jk1uthen naging mas worst pa nung time ni corykong kahit saan may corruption dating VP na nya nag expose mas talamak ang corruption kay corykong kesa kay Marcos hanggang sa minana na ng mga sumunod na Admin
@@ianfvcknr No. Actually Philippines showed steady growth during FVR and GMA's time then failed during ERAP and Noynoy did good too.
We all have the funds for improving the country but Corruption is all the reason why Philippines is still poor
I withdraw my subscription of this chanel
Truth hurts huh?
The Phils. does not need to invest in capital goods/assets because our main industry is the export of workers (OFW) and professionals. So you don't have to invest in machinery, land or buildings or other capital assets. We invest in our people and their acquired skills then export them to other countries. Their dollar earnings are then sent back home , exchanged for pesos and increase our dollar reserves.
what a stupid means of earning money.... no wonder the filipines is third world..
Yeah, that's why our country is still poor.
@@seannwilliam9557 Two things. The assets like factories, buildings and machinery add to the assets of the industrialized country. Also part of the earnings of our OFW and immigrants are spent on the host country adding to its GDP. Nevertheless our dollar earnings are bigger than most Asian countries.
At the expense of social problems. This model is not viable long term and is contributing to brain drain in the country.
@@napoleonaquino9347 definitely not on par with Vietnam, Indonesia, and Thailand.
I feel like govs too focused on Manila
Lack of nationwide transportation infrastructure
Unreliable Infrastructure(power, telecomms, water, etc)
Politics and bureaucracy
Lack of agricultural industrialisation
lack of competition
1. The Philippines is improving it's transportation (roads, rehabilitation of railroads, airports, ports) since 2000s.
2. Depends on what area. But the Philippines has no water problem in general just Manila
3. The new administration is not corrupt
4. There are a lot of processing plants in my province specifically corn and rice ones.
it's all marcos' fault
No it isn't. He's the main reason. But let's be honest, it's the failure of every single president since then...and the failure of the Filipino people to keep voting for the same people, or rather families, in every level of government.
it was Aquino's fault, becuz, she sold everything own by government and dragged us down. and didn't continue marcos project such as nuclear power plant that will reduce cost our electricity that required for industrial plan. a country like philippines with rich of metal minerals, industrial plan by marcos should be achieve easily. we shouldn't export our raw metal minerals to china, if Marcos's plan was executed.. can you imagine just becuz her husband was died becuz of foreign intervention.. and she suddenly became president from house wife that didn't even serve any government position before.. 🤣🤣🤣🤣.. if we follow our law, next president it should be vice president of the philippines. not s2pid housewife.. 🤣🤣🤣. its clearly she sold everything own by government out of revenge..🤣🤣🤣🤣
Because of Aquino
@@avakiin6614 True...these peoples mind like to blame FEM FEM FEM...but its Cory that caused more trouble.....
@@Telfund38154172 Don't Blame now, Please Bias, and Be a Fan of Good News Instead, and Instead of Blaming, Our Government, and People needs to Think Optimistic, and Positive, because Blaming, and Negative News can lead to Early Death, High risk of Non-Communicable Diseases, and Blaming More.
fakenews always
Just reported this channel for HATE SPEECH!!! Be kind to the Philippines and to the world.
Lol, balat sibuyas? Wala naman siyang sinabing masama.
@@jsm8190 CHECK THIS CHANNEL’S OUTDATED DATA! MAS AFFECTED KA PA SA MAY ARI NG CHANNEL? CHECK MO BKA IKAW BALAT SIBUYAS? LOL 😂
@@jsm8190 This is prime example of black propaganda/divide and conq. prpgnda etc.
@@JayCarlz-sj2xp Right brother!
Hahahaha did you even watch it, wtf kaya di tayo umuunlad
1985 lost to Thailand
2000 lost to Indonesia
2020 lost to Vietnam
2040 will lose to Myanmar ?
2040 w gas and oil exporting.nuclear weapon
Myanmar is still way way behind Philippines for it to catch up unless it grows like Vietnam or China did it will but no.
@@normalyoutube495we don't know maybe it'll be considering how broke your country's system is.
@@nguyenthiminhkhai4316 Let me explain this in a simple way. Politically the Philippines is broke. Economically though it's doing well. Meanwhile Cambodia, Myanmar aren't that.
@@nguyenthiminhkhai4316Myanmar crashed in 2021.
It's all Japan's fault