Skip to main content

Duterte’s Spirit of Pan-Asian Openness Will be Enhanced Through Proper Constitutional Reforms

Image result for Duterte’s Spirit of Pan-Asian Openness Will be Enhanced Through Proper Constitutional Reforms
Photo from Eurasia Future
Under the leadership of President Rodrigo Duterte, The Philippines has experienced an upturn in its economic fortunes with both Asian and western investors looking at the potential of a consistently growing ASEAN economy that is both ideally located as well as being home to a young widely English speaking population that is hungry for new opportunities.

Duterte’s foreign partnership model is one that seeks friendship and economic connectivity with all, and hostility with none. As such, Duterte has worked with fellow ASEAN partners towards common regional development goals, whilst also building new bridges to major Asian powers including China, Russia, Turkey and India. All the while, Duterte has strengthened relations with Japan and The Republic of Korea while developing a healthy working relationship with Donald Trump. The success of Duterte’s most recent visit to Japan is a further example of how Duterte’s leadership has allowed The Philippines to “punch about its weight”.
With respect to both the lingering territorial disputes with Malaysia, and the South China Sea issue, Duterte has renounced hostility, opting instead to operate on a model that prioritises cooperative solutions for win-win economic enrichment. Duterte’s confirmed personal attendance of April’s Belt and Road forum in China demonstrates his overall commitment to integrating the Philippine economy into the world’s most dynamic multilateral development initiative.

Duterte has shown a positive attitude to the wider world whilst also helping to make The Philippines a more secure place for international investment. The Philippines however continues to face challenges that are unique when compared to fellow ASEAN states like Singapore and Malaysia.
In spite of provocations from opponents, Duterte has yet again confirmed that he rejects the notion of any hostility against China and that he is committed to peace, dialogue and cooperation in the South China Sea region.
At present, The Philippines has a largely protectionist constitution that limits opportunities for the kind of foreign direct investment which transformed the economies of Singapore, Malaysia, Vietnam and China. Beyond this, the structural problems in Philippine governance that Singapore founder Lee Kuan Yew was never shy about pointing out, remain. This is the case in spite of Duterte’s reformist and modern attitude.

The worry for both Asian, European and American investors is that after 2022 when Duterte will be legally forced out of office, hard-line protectionists and petty nationalists may come back to power. Because of this, long term sustainable investment may well be scared off through a combination of constitutional limits on foreign direct investment and a political system that does not ensure the kind of stability and consistency that is present in ASEAN’s most successful nations.
Fortunately, there are positive signs that The Philippines will move towards a more stable and investment friendly system that will serve to benefit the material condition of the Filipino people. President Duterte has often spoken about the need to modernise foreign direct investment restrictions as well as move towards a parliamentary system that has brought stability to Singapore and Malaysia.
The grass roots Filipino CoRRECT Movement continues to use social media and public events to promote a pro-trade, pro-investment, pro-political stability shift to a new constitutional model that will federalise the country, create a parliamentary system nationwide and abolish constitutional restrictions on foreign direct investment.

In monetary policy, Gresham’s law states that “bad money drives out good”. The same is true in respect of foreign direct investment. In a country that makes it difficult to bring in clean investment, all that will be available are unsound investments. As such, The Philippines and its multiple partners can benefit from embracing an open, modern approach to the rules based economic order that has benefited many ASEAN members and many emerging Asian markets more widely.
A more open approach to foreign direct investment can help multiple partners from all sides of the world bring more prosperity to The Philippines while a less chaotic political system will help to assure investors that their projects in The Philippines will be secure in the long term.
Source and Original Article from: >>> Eurasia Future

Comments

Post a Comment
Related Posts Plugin for WordPress, Blogger...

Popular posts from this blog

Former Iloilo provincial administrator: "Robredo won by systematic cheating"

Former Iloilo provincial administrator Manuel “Boy” Mejorada expressed his thoughts via his blog, saying that Vice President Leonor “Leni” Robredo won the May 2016 elections over Ferdinand “Bongbong” Marcos via “ systematic cheating ”. Former Iloilo provincial administrator Manuel “Boy” Mejorada and Vice President Leni Robredo / Photo credit to the owner Mejorada said that how Robredo allegedly cheated in the elections is being uncovered in the manual recount of votes by the Presidential Electoral Tribunal (PET). He says that there is already about 5,000 worth of voted that Robredo lost in the first two weeks of the manual recount.  Although some Robredo supporters called this “ fake news ”, Mejorada says that it cannot be because the information came from people inside the PET itself. Robredo has appealed to the PET to allow 25% shading of ballot to be counted as valid, as did the machine but PET has denied her request. Vice President Leni Robred...
Post a Comment
Read more

Goodbye, Ma Ling: FDA orders recall, seizure of imported canned meat

FDA advised the public to exercise "extreme caution" in purchasing and consuming processed pork meat products. The Food and Drugs Administration (FDA) temporarily banned the distribution of pork meat products, including the meatloaf brand Ma Ling, from countries affected by the African Swine Fever (ASF). Photo from  unlideals.com According to  Memorandum 2019-048 , the FDA directed all importers, distributors, retail outlets, and other dealers “to immediately recall all pork meat products imported from countries suspected to be affected by ASF virus.” The ASF-affected countries are China, Hungary, Latvia, Poland, Romania, Russia, Ukraine, Vietnam, Zambia, South Africa, Czech Republic, Bulgaria, Cambodia, Mongolia, Moldova, and Belgium. As defined by the World Organization for Animal Health (OIE), the African Swine Fever is a highly contagious hemorrhagic disease of pigs, warthogs, European wild boar, and American wild pigs. It is caused by DNA...
Post a Comment
Read more

College Dean slams Duterte critics: 'wag na maghilahan... sayang ang oras, salapi at dunong sa ganitong paraan'

Photo from Joeys Gold Yong's Facebook profile Isang dating Dean ng College of Business Administration sa Perpetual Help College of Manila ang nagbigay ng kanyang kakaibang komento patungkol sa mga kumakalaban sa administrasyon ni Pangulong Rodrigo Duterte. Si Joeys Gold Yong na dating Vice President ng PUP Graduate School Doctor in Business Administration Society ay may kakaibang banat sa mga kritiko ng pangulo. Ayon sa kanya, paano nalang kung ibabalik lahat ng ginawa ng pangulo para sa bayan? Hinimok rin nya ang mga kumakalaban sa gobyerno na huwag nang maghilahang pababa, sapagkat kahit sino pa man ang pangulo, siya ay dapat igalang at suportahan. Narito ang kanyang nakakatuwang Facebook post: Mahilig kayo magbilang...gusto ko din magbilang abot ng maliit kong nalalaman sa nangyayari sa aking kapaligiran. Ito ba ang Ilan sa mga ipinaglalaban natin? 1. Ibalik ang tanim bala 2. Ibalik ang Airport taxi 3. Ibalik sa drugs yung 700,000! 4. Ibal...
Post a Comment
Read more