Will Foreign Investments Put Local Businesses Out Of Business And Leave Filipinos Impoverished?
I remembered when I wrote a basic economics guide against the Failipino view of economics, I'm now compelled to write more articles on foreign direct investment. I wrote a previous article on the great lunatic that's Heneral Lunatic so I guess I might write against the idea that Foreign Direct Investment or FDI will cause a foreign invasion because for the NTH time that it DOES NOT cause a foreign invasion. It's just a stupid excuse that idiots make and the opportunists take advantage of in their quest for power. This of course, I wonder if Heneral Lunatic really studies history as he claims he does or does he even know basic economics? Now it's time to tackle on the question on whether or not foreign investment will destroy local businesses and leave Filipinos impoverished. I believe it's time that I wrote something similar to this as part of the aim for Constitutional Reform.
The idea that foreign direct investment will cause local businesses to be out of business is both a yes and a no. It's a yes if you as a local business refuse to become competitive. If a competent local business can certainly put a local incompetent out of business, the same goes for any competent foreign-owned business. It's a no if we're talking about competent local businesses. For instance, a restaurant that sells good Filipino good won't be driven out of business by a competent Italian restaurant. Any competent local business in the Philippines will stay afloat by being competitive (like changing strategies when needed) or by supplying to foreign investors. If there are foreign companies that need raw materials and there are competent Pinoy suppliers then it's natural that the incompetent Pinoy suppliers will be placed out of business while the competent ones will stay afloat. In short, FDI is a two-edged sword that can benefit competent Pinoy businessmen but it can also drive out incompetent Pinoy businessmen. Many who want the stupidity of overprotectionism want to continue in their mediocre state of stupidity while enjoy profits from other people because it's a yes for them. Those who are in the no section that no, they won't be driven out of business are obviously the competent ones.
Will foreign investment leave Filipinos impoverished as the leftists claim? Like the first question, it's still a yes and a no depending on the situation. It's a yes as said if you're incompetent like for example, do expect a foreign restaurant that sells quality and affordable food to put out any mismanaged local restaurant out of business. FDI can also drive certain people impoverished especially if they practice the stupidity of calling being late as Filipino time. If you're always habitually late then if any good Pinoy boss will fire those kinds of employees how much more for competent foreign bosses where they don't bother to entertain the notion of "Filipino time". It's also a yes if you don't grab the opportunities for employment because it's your responsibility to get out of poverty. If there are many foreign investors around hiring Filipinos, then you must get yourself employed by them and follow simple guidelines like as said, show up to work on time and do what you're told unless you're told to do something unethical. The reason behind people getting poverty in spite of foreign investors is not because of the foreign investors but their own personal laziness. On the other hand, it won't leave anyone impoverished if they grab these job opportunities and learn the basics of managing one's money properly by not overspending.
Besides, the benefits of FDI if managed like how first world countries do theirs will help the Philippines progress like it helped other first world countries progress. How did the first world countries progress? Not by rejecting foreign investment and by pampering local businesses. What makes the idea of industrialization without foreign investment stupid is because the Philippines didn't even progress by itself but it underwent colonization by Imperial Spain, Unites States of America and Imperial Japan. Even the early Filipinos progressed by trading with foreigners like Chinese, Arabs and Indians. It's even dumber that such people who reject FDI say I should study history when they should be the ones who should study history from real sources, not from stupid DepEd anti-intellectual civics and culture textbooks. If they study the history of first world countries, these countries place reasonable restrictions and set a healthy amount of economic liberalization. If they're so against progress, why don't they just find an uncharted island and start their own nation? Then again, you know how self-contradictory those idiots are in several levels.