While Southeast Asian economies have been fast expanding in the last decade, better than most regions, wealth and income inequality—i.e., the gap between the rich and poor—has been equally growing. The United Nations Economic and Social Commission for Asia and the Pacific (UN Escap) reports that “Southeast Asia has seen inequalities widen, a setback to...
Author: Eduardo C. Tadem (Eduardo C. Tadem)
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Southeast Asia’s economic perils
The easing of pandemic restrictions and the opening up of economies saw Southeast Asia’s growth for 2022 being calculated by the Asian Development Bank (ADB) at a higher 5.5% from an earlier estimate of 5.1% “on stronger-than-expected domestic consumption, exports and services, particularly tourism.” Downplaying the Philippines’ seemingly impressive 2022 growth of 7.6%, economist JC...
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Jaime Tadeo: the lessons of ‘Kampo ng Bayan’
EDITOR’S NOTE: Jaime “Ka Jimmy” Tadeo, farmer organizer and delegate to the 1986 constitutional convention, died on March 26, 2023. He was 84. (Second of two parts) It was decided that the Alyansa ng Magbubukid sa Gitnang Luzon (AMGL, Alliance of Farmers in Central Luzon) would spearhead a march from Meycauayan, Bulacan, just outside Metro...
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Jaime Tadeo: the rebirth of the Philippine peasant movement
Editor’s note: Jaime “Ka Jimmy” Tadeo, farmer organizer and delegate to the 1986 constitutional convention, died on March 26, 2023. He was 84. The collapse of the peasant-led Huk rebellion in the early 1950s also led to the demise of militant peasant movements such as the National Union of Peasants of the Philippines, the League...
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Southeast Asia, democratic deficit
Southeast Asia is a favored region for investments and trade by developed countries seeking to rebound from the pandemic and other economic problems. In terms of its political indicators, however, the region is hobbled by varying levels of democratic deficits. Nikkei Asia observes that Southeast Asia remains “largely a fortress of authoritarianism, with military-based regimes...
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Has Southeast Asia reached a post-pandemic stage?
By mid-2022, governments worldwide had begun easing up on the severe Covid-19 restrictions and regulations imposed on their peoples and opening their countries to visitors. These moves were intended to ease the debilitating impact of Covid-related policies on the economies and social fabric of virtually all countries. Most economies suffered recession, companies went bankrupt, supply...
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Can Southeast Asia achieve sustainable tourism?
Southeast Asia has long been a preferred tourist destination due to its diverse and culturally rich settings, incredible sights, unique local cuisines, and affordability, as depicted by travel websites. For governments in the region, tourism is a major contributor to economic growth; the Asian Development Bank (ADB) estimates that it contributes “at least 15% to...
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Debunking objections to a wealth tax
A wealth tax is based on the market value of owned assets minus debts and other liabilities, i.e., one’s net worth—anything that has monetary value. These include cash, landholdings, bank deposits, shares of stocks, vehicles, real property, pension plans, crypto funds, housing, trusts, jewelry, yachts, planes, works of art, antique collections, copyrights, etc. Opponents from...
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Tax the rich: 9 reasons for a wealth tax
Rising inequality has been an inescapable phenomenon of global economic development over the past 200 years. Per the United Nations’ Sustainable Development Goals, growing inequality affects 70% of the global population and threatens “long-term social and economic development, [harming] poverty reduction and [destroying] people’s sense of fulfillment and self-worth,” all of which “can breed crime,...
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The dubious legacy of the Marcos debt
As the nation marks the 50th year of the declaration of martial law on Sept. 21, 1972, it is relevant to recall how that chapter in Philippine history has affected the country and its people. Three months after the ouster of the Marcos regime in February 1986, a group of 16 economists from the University...