Happy Double Ten or Taiwanese Independence Day for the Republic of China otherwise also known as Taiwan!
Taiwan today exists as a major Asian economic tiger aside from Singapore, Hong Kong and SOUTH Korea not North Korea. While I don't claim to be an economist (which I'm not) neither am I a political analyst but I'd like to share basics on how Taiwan's economy prospered based on more qualified sources than I am (which I couldn't do this post without them). Please don't throw the "But the Philippines is an archipelago and Taiwan is an island!" No, the Philippines can be made a great nation if it learns from its progressive neighboring countries.
There's a lot to learn with Taiwan's economic policies. The country wasn't always what it was today. No, it didn't self-industrialize. Don't even think of buying Heneral Lunatic's idiotology of self-industrialization as what made first world countries they are today. The land reform program in Taiwan didn't have the use of economic protectionism or anti-American propaganda. They decided to start modernizing Taiwan as part of a true land reform. They didn't protect local Taiwanese businesses and rejecting foreign investment or limiting them. Instead, they decided to embrace it.
Gulf News says this of Taiwan's economic miracle:
That doesn't sound like that could be achieved through Heneral Lunatic's idiotology called self-industrialization. As said, he should test his theory on an uncharted island. If protectionism is so good then why did China do better under Deng Xiaoping than Mao Zedong? Also, why did Taiwan first rise to power before China? Only when Deng Xiaoping started true land reforms and free trade policies did China awaken from a sleeping dragon to a raging dragon. All those highly advanced and sophisticated industries could not progress with Heneral Lunatic's call for self-industrialization.
The Taiwanese economy was also anti-oligarchy. From EH.Net which is owned by the economic history association, we read something that further hurts those anti-American activists:
The land reform program didn't want to limit power to a small group of people unlike what's going on in the Philippines. Until now, the Hacienda Luisita still hasn't passed through the badly needed land reforms. A lot of farmers are still not getting justice or that the rich are still getting richer. When you promote economic protectionism, you protect the oligarchs. The future is bright for the Philippines only for the oligarchy as long as economic protectionism is on the rise. The Philippine oligarchy (and whoever holds it, the Philippines is still at a loss) can't be pulled down as long as economic protectionism is on the rise no thanks to the 1987 Constitution's provision. I guess that's why President Rodrigo R. Duterte's proposals aren't welcomed by the oligarchs. But at the same time, I do agree that the U.S. currently needs to stop meddling too much with the world even if I'm not anti-American.
According to the Freedom for Economic Foundation, this can be said about Taiwan's current economic performance:
It can be seen that Taiwan got rich by making an environment favorable for the entry of more FOREIGN INVESTMENT. Did you read that or do I need to make it bigger because that's the biggest that Blogger could allow me to emphasize those two simple words namely "foreign investment". Go read that link! Please stop the stupid notion that only foreigners will get rich and that all local businesses will be destroyed if the open up the economy. If you're lousy then your business will be destroyed. If you're competent, foreign investors may be your next supplier or customer. Foreign investors will also mean more money for the local banks and the Bureau of Internal Revenue. More investors means more taxes for a better Philippines. This can also start by lowering tax rates to reasonable levels and removing all the red tape that's making business not more fun in the Philippines.
Finally, I'd like to issue this challenge to economic protectionist lovers without using their biased literature or quoting from the likes of Raissa Robles or Winnie Monsod but to get other sources to verify their sources. I dare them to prove to me that Taiwan succeeded through protectionism or that protectionist Maoist China was better than Taiwan then I'd buy it. But you can't. I've studied BASIC economic history and it's shown me that self-industrialization will never make your country move forward. If they can't prove it then why don't they migrate to either North Korea, Venezuela, Bangladesh or just any country worse than the Philippines or it might be time for every Pinoy who supports economic reforms to exile them to those countries.