An FDI-Friendly Philippines Would've Helped Cope Up With The Coronavirus Crisis

Certain areas of the Philippines have been put under quarantine or lockdown mode. The only things that can enter these areas are the supply of food and medical help. Recently, (as reported by the Philippine Star) - there's a COVID-19 taskforce assigned to crackdown profiteering in the midst of a pandemic. So why the need for that taskforce? It's because of the principle of supply and demand. There are too many demands and too little supply during the pandemic. It's the basic rule of economics that high demand and low supply then expect prices to SKYROCKET. Activist recruits are people who lack basic knowledge of economics. That's making them susceptible to recruitment by greedy communist leaders.

It's easy to say that certain countries have more money hence they have the resources to fight the Coronavirus. Do these people whining know how these countries got out of poverty or do they still want to keep blaming it on the Marcos Years? You also have people who have a wrong view of foreign investors such as saying the blatant lie that only they will get rich if you let them invest in the Philippines. Then they dream of going to countries that greatly benefit from free markets or that OFWs are actually sent to "conquer" countries that greatly benefit from free markets. Why does South Korea have the resources? Why does Taiwan have the resources? Although both countries are presidential (though South Korea is hybrid with presidential AND parliamentary) - they possess the free trade policies that are giving them the resources to combat the epidemic.

Do you think economic protectionism will protect a country from the Coronavirus? Do you want to blame foreign investors for bringing in the Coronavirus? Well, let's consider the real state of VENEZUELA right now. While Nicolas Maduro and his pals are probably safeguarded but not for the people. The Guardian reports that Venezuala is truly ill-equipped. Just reading at the article revealing that there's SHORTAGES of supplies needed to combat the epidemic. Worse, inflation is going left and right in Venezuela. Do you even bother to ask yourself as to why Venezuela has a bad economy in spite of its rich oil reserves? Do you bother to ask why the other two archipelagos Malaysia and Indonesia are richer than the Philippines which is RICHER in natural resources? If you want to say that free trade will turn the Philippines into the "next Venezuela" then think again. Those who want to make that claim better give me documents to prove Venezuela accepts foreign investors. They also better show that South Korea is protectionist and that North Korea accepts foreign investments. If they have no evidence to back up protectionism's benefit (aside from biased sources like Jacobin) then STFU.

How would foreign investments help a country in any crisis? It's not just about the money. It's also about the goods and services that will be readily available to meet the huge demand during a crisis. For example, if there were hospitals, food suppliers, medical suppliers, and the like then there would be fewer chances of overcrowding. Areas, where the lockdown or quarantine is still ongoing, can still enjoy good food if there were more food suppliers. Foreign investors and local businessmen form the supply chain. The bigger the supply to meet the demand - the lower the prices of goods will be. It would reduce the chances of the local businessmen to profiteer because higher supply means lower prices. This would also reduce panic buying because there's no reason to panic buy. The more supplies available then the less reason to panic buy.

Why has the Philippines still been stuck up with Carlos P. Garcia's "Filipino First" policy? The Marcos Years also practiced economic protectionism leading to the country's dwindling into debt. The Cory Years also made the serious mistake of not taking pointers from Lee Kuan Yew. Those who demand Ferdinand E. Marcos Sr.'s remains to be exhumed from the Libingan Ng Mga Bayani (Heroes' Graveyard) should also demand that Garcia's remains be exhumed too. There's also the option we may also consider burying Noynoy Aquino next near to Marcos Sr. when the former's time will finally arrive. Hopefully, this Coronavirus crisis will help awaken more Filipinos to the need for an FDI-friendly Philippines.