We are not witnessing the last days of the American empire. Its crisis is real, but its trajectory of decline is likely to be protracted and uneven. After the fall of the Soviet bloc in the early 1990s, the United States stood at the apex of the unipolar world, unrivalled both politically and economically. Some...
Tag: economy
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‘Economic Cha-cha’ is sweeping the political dance floor
The plot thickens with the Senate announcing full participation in the planned activity of the moment: the amendment of the Constitution. Senate President Juan Miguel Zubiri’s surprise filing on Jan. 15 of Resolution of Both Houses (RBH) No. 6 proposing the amendment of certain economic provisions represents a stronger than usual push for Charter change....
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Challenge to Congress: Easing of bank secrecy is necessary for economic Charter change
With calls for Charter change (Cha-cha) once more gaining traction, the Foundation for Economic Freedom issued this statement last Jan. 4: “Economic Cha-cha is necessary but not enough. Other conditions, such as rule of law, good infrastructure and ease of doing business, among others, must be present to compete with other countries in attracting foreign...
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Christmas food and agricultural productivity
What do Filipino households spend most on during Christmas? You guessed it: food. The Philippines is also the country that proportionately spends the most on Christmas food, according to a 2023 worldwide survey of 23 countries by WorldRemit. The survey classified Christmas spending according to three categories: food, decorations and gifts. A Filipino household on...
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Boracay feels economic pinch despite 1.8M tourist arrivals
BORACAY ISLAND—John Neil Gregorio, 22, had just completed a four-year computer science course when an uncle prodded him to take on the job of a service crew member in an Indian restaurant in Boracay last August. Despite the meager starting daily wage of P300, with free meals and board, he bit the bullet, seeing a...
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‘What could have been, what can be done’
If given a three-minute audience with President Ferdinand Marcos Jr., said former health secretary Jaime Galvez Tan, he will make a strong case for the development of the young population to make the Philippines at par with the fast-growing economies in Southeast Asia. This will be his recommendation to the President: Synergize education, health, agriculture,...
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Power grid operator NGCP billed consumers P2.6B worth of CSR, PR expenses
As the sole public utility in charge of power transmission lines, the National Grid Corporation of the Philippines (NGCP) is mandated to ensure the reliability of the country’s electricity supply. So when a government representative found that it had included corporate social responsibility (CSR) activities in its operating expenses, she sought an explanation. “Are CSR...
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The dimensions of inequality in the Philippines, by the numbers
Throughout Asia, the Philippines conspicuously stands out when it comes to social and economic inequalities. The latest World Bank calculations place the Philippines at the highest level of inequality in the region (see Table 1). In a grouping of 27 Asian countries monitored by the World Bank, the Philippines ranks No. 1 in inequality with...
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Estate tax may now be paid in installments and online
Instead of a one-time payment that many find difficult to comply with, heirs may now pay in installments the estate tax due the property they inherited from relatives. They may also stagger the payments over a two-year period. Heirs even have the option to settle the amount online with an accredited bank of the Bureau...
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Gov’t can ill afford Palace’s ‘populist’ policies on rice, says ex-finance official
The Marcos administration’s imposition of a price cap on rice and new prices for palay as well as its subsidy for rice retailers could be “costly” to the government, according to resigned finance undersecretary Cielo Magno. The government can ill afford the costs arising from the three policy packages because these are not part of...
