Wednesday, January 6, 2016

Poe-Llamanzares wants to sell Philippines to foreign investors

I don't know if Bayanmuna and the Magdalos heard what their presidential candidate Grace Poe-Llamanzares said---that she is actually in favor of opening up the Constitution for discussion and even changing the economic provisions there, which our Constitutionalists actually included to provide a protective shield for our local enterprises in the event of globalization.

Is she crazy or the better question is--does she really know what she is talking about?

In an era where foreign firms are slowly eating up local industries and at a time when there is still no strong critical industries to speak of, this presidentiable wants to open our Constitution and change it so that foreign investors would benefit from exploiting our domestic consumer market, even our natural resources see this story.

The fact is--if you look at her argumentation in this story, you'll arrive at the conclusion that the solution is really not for opening the economy further, but in improving or ridding the bureaucracy of red tape and graft and corruption. The reason why the business environment is somewhat unpalatable to some is because of the reasons already cited by Llamanzares in his article.

If those are the reasons, then, you don't need to open the market more for foreign investors. One just needs to improve the regulatory environment and make sure that governmental processes are free from politics and promote a "level playing field." That is the urgent need.

I thought Llamanzares is in favor of a national economic development program centered on strengthening our vital industries first to aid them in surviving the harsh economic competition brought by foreign capital?

And since BayanMuna and The Magdalos support Llamanzares, are these groups amenable to opening up our economy for more foreign devils to come in? If this is true, then, Bayanmuna and Magdalo supporters should seriously consider going to a brain surgeon.