Antonio Tinio's Slamming Of Economic Liberalization May Have Shown How Clueless And Ignorant He Is About Economics
ACT (Alliance of Concerned Teachers)' member minority lawyer Antonio Tinio has really showed some degree of ignorance with economics by slamming economic liberalization as reported by ABiaS-CBN News. Although the picture I'm above is just another random picture I'm using but somehow, his eyes seem to communicate ignorance and stupidity.
Let's take a look at what he said that had really made me headslam:
"We're talking about a threat to thousands of Filipino-owned companies, hundreds of thousands of jobs that will be forced to compete with, of course, giants among the multinationals," he added.
This is really a huge problem. I wonder if this guy adheres to the foolish economic policy of Heneral Antonio Lunatic. I would want to raise this issue with how Tinio himself has shown his defense of economic overprotectionism. He has really shown how lack of knowledge in basic economics leads to backwards thinking. When he said those words that he's talking about the threat to thousands of Filipino-owned companies, I guess he's just crying "protectionism" as if he's not using any imported stuff or benefiting from imported businesses. Even if I'm wearing locally produced clothes most of the time but they were produced using imported equipment and some imported materials.
Many Filipino-owned companies are incompetent because of a lack of competition in the Philippines. If they were forced to compete, they would need to innovate so they can survive. Did this guy even realize that developed countries accept huge degrees of foreign investment? They became competitive by accepting foreign investment and allowing competition to their local businesses. If there's competition, people are forced to innovate and be competent or they inevitably perish. With a welfare state mentality, it's always been begging for protectionism as if they aren't using anything imported or born out of foreign influence. The whole date with mediocrity is really one of the biggest reasons if not it might be the number one reason why some people oppose economic liberalization.
Does this guy even consider the reality that more investments means more jobs? I always find it ironic how many people hate the idea of foreign investors calling it foreign invasion but end up complaining why many Filipinos are unemployed and forced to look for jobs outside their country. Please, don't keep yapping about how overseas Filipinos meas that are taking over the world because they're not. If they are there to go work for another country, they must follow the rules of that country and if investors want to invest in our country even with 100% ownership, they are still bound to bow down to the Philippine government, pay taxes and comply with other laws resulting to more national income. What he may need to consider also is that not every multinational is always willing to go 100% as some of them are willing to work with Filipino partners. With reasonable restrictions that allows them to get 50% and above, there is a fair share on both international and local partners.
Foreign investors can also help other local businesses. Local businesses can either serve as either buyers or purchasers to foreign companies. A local business may end up supplying to a foreign investor who's then oblige to pay for the supplies. A local business may end up getting several suppliers to help in their manufacturing. Either way, there is a mutual profit between the local and foreign investors in having free trade with reasonable restrictions. Only today, many people just tend to show biased studies and their whiny attitudes to justify economic overprotectionism as today, the Philippines need both bayan and negosyo to survive.