Comments on: Official figures aren’t carved in stone

By: Anthony Scalia

Anthony Scalia — Fri, 07 Sep 2007 10:13:31 +0000

To whom it may concern:

Ano ba kayo?

Whenever you compare the Philippines with our SEA neighbors, you rely on figures, and you never go beyond what these figures say. Particularly, you never ascertain if their growths had a trickle-down effect. Yet how come pagdating sa atin, you go beyond the figures!

Di nyo ba alam na kaya tinawag na laggard ang ‘Pinas ay dahil while our rich SEA neighbors had a minimum of 9% annual growth rates for several years running, sa atin ay less than 4% lang. Ang basehan pa rin ay figures!

Like palagi nyong sinasabi, nalampasan na tayo ng Vietnam. Pero ang angat lang ng Vietnam sa atin ay growth rate lamang. (pero if the growth rates remain the same, malalampasan nga tayo, pero in the future pa) GDP and per capita GDP are still way ahead of Vietnam. The Philippine economy is still bigger than Vietnam.

By: cvj

cvj — Thu, 06 Sep 2007 06:04:23 +0000

Bencard, i agree with your conceptually equating ofw’s = labor exports as that is useful in some way. But for purposes of the GDP statistics, we are not counted as such probably because the services we render to our foreign employers is no longer domestically produced so it cannot be part of Gross Domestic Product. Instead, the income we remit is included as part of GNP under Net Factor Income from Abroad (NFIA. In the example given by Devils, what counts in the China as ‘Producer’ and USA as ‘Consumer’ comparison are goods that are produced domestically for sale abroad.

By: Karl Garcia

Karl Garcia — Thu, 06 Sep 2007 03:04:10 +0000

i concur with bencard re:ofw:exports

yun sana ang gusto ko sabihin kanina eh nafocus ako ke benigno at nawalan ng sense yung pinagsasabi ko.
We produce and export manpower.

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Walden bello’s assessment that globalization went pfffft,and go back to protectionism,that is what the US is doing protectionism and at the same time advocating globalization with its agri subsidies.

Globalizatization is here to stay.
What happened to the cement producers,and our agri sector when we stubornly “protect”them.
Did our cement technology improved,have we become more”efficient”,same as agri products, if ever we block the entry of chinese or others.

A catch 22,damned if you do and damned if you don’t situation.

In situations like these, refer to every alcohol drink commercial and replace drink with do everything. as in

Drink moderately!

By: Bencard

Bencard — Wed, 05 Sep 2007 21:53:32 +0000

cvj, more than goods, we produce manpower (ofw’s) and then we export them. i guess, in that sense, our’s is an ‘export-driven’ economy fueled by production.

By: cvj

cvj — Wed, 05 Sep 2007 16:31:59 +0000

Devils, i suppose what hvrds meant was that the US is the consumer of China’s exports. So, in effect, what you’re saying is that it’s better for us to produce for foreign markets who would then be our consumers, rather than us consuming what we produce or what we import. So a ‘production-driven’ economy is in effect an ‘export-driven’ one?

By: Devilsadvc8

Devilsadvc8 — Wed, 05 Sep 2007 13:58:12 +0000

cvj, im not for or agst consumption nor for or agst production. i am merely stating that in a consumption driven economy, for growth to be sustained, we have to keep on consuming. in that sense, you merely said it better than i did. true. if everyone starts saving, the economy would collapse. and that’s bec the economy depends on money going around, not stagnating in private piggy banks.
i think hvrds explained this best some time ago. drawing comparisons bet US and China, the perpetual consumer and producer respectively. Walden Bello also said something abt the problem of overproduction (worldwide) testing the strengths of each country’s economies. he was saying something abt globalization losing steam and countries increasingly returning to protectionism once the ugly head of globalization reared itself.

By: Manila Bay Watch

Manila Bay Watch — Wed, 05 Sep 2007 08:58:12 +0000

… and agree with every word Devil wrote. Capital flight is a killer for any developing nation.

By: Manila Bay Watch

Manila Bay Watch — Wed, 05 Sep 2007 08:56:55 +0000

Agree with Bencard.

By: Karl Garcia

Karl Garcia — Wed, 05 Sep 2007 06:13:01 +0000

Amen to Bencard,as well…..BUT

The country displays as an indicator is GDP not GNP.

Where the OFWs remittances is a heavy heavy factor.

Damn those economic indicators!(madami pa yan)

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RE:transferring money overseas:may tawag dyan dati:dollar salting, kaya yata nagkaron ng binondo central bank at black market. madami pa din nakalusot.

Speaking of which,what happened to our anti money laudering law…

Our anti money laundering law is as weak as the anti movie,music,piracy law.

Bakit, walang budget?

By: cvj

cvj — Wed, 05 Sep 2007 05:25:51 +0000

Devils, for the country to keep growing, someone has to continue spending whether it be the government or private individuals or other countries (via our exports). I know it makes sense at an individual level, but at the aggregate level, if everyone starts saving, the economy will collapse. That’s why the distinction that Benign0 makes (where he privileges ‘production’ over ‘consumption’) is a useless one. The relevant distinction is between different kinds of production, e.g. between sectors i.e. agriculture vs. industry vs. services or within the industrial sector – mining vs. manufacturing.

Similarly, his definition of TRUE value based on “a careful evaluation of an asset’s ability to yield SUSTAINABLE income (at acceptable return rates) over the economic life of said asset“, in a free market, is already embodied in the price of an asset where ‘TRUE’, in a fixed sense, does not have any meaning.

I agree with your last sentence. We should be like India where it is not so easy to transfer money overseas.