It's really amazing at how SOME Filipinos are still so economically ignorant, right? This just in, it turns out that the Senate (better renamed the SLOWER House and better abolished in favor of a unicameral Parliament) in favor to amend the Foreign Investments Act of 1991. The act was first passed during the reign of the late Corazon C. Aquino - a woman more fit to act as chief representative than chief executive of the Filipino people. Now, the law has been amended many times such as when Fidel V. Ramos was president, when Joseph Estrada was the president (and this guy won't last under parliament), when the late Noynoy Aquino became president, and now with Rodrigo R. Duterte who is soon to be former president. However, while the law has been amended from president to president - there has always been the use of China as the boogeyman. Reactions like economic amendments is nothing more than Chinese takeover is FUNNY!
This is really funny considering that many of these objections are from FILIPINO COMMUNISTS. Until now, I'm amazed at how Filipino communists love communism while they hate China. Even funnier is that Deng Xiaoping is not even honored by the CPP-NPA - you don't even see his face among their heroes! A history lesson will show as to why Deng isn't honored - he was a man who viewed poverty as non-communism and said it was rich to be glorious. Ironic how Jose Maria Sison chose to hide in DEMOCRATIC Netherlands than ask Deng for asylum. Ironic how the CPP-NPA failed to secure its closest possible ally. The revolution could've been won if these guys took advantage of China's assets such as offer vaccination with SINOVAC, if Alliance of Complaining Teachers decided to hand over Huawei tablets to teachers in need of them, get Chinese investors to help them conquer the Philippines, and so on. Instead, they continued to antagonize Communist China resulting in more and more of their loss.
Some of those using China as an excuse seem not to have read a world map or seen sources of investment. If all foreign investments came from China then where did Deng get his investors? Deng went to the United States of America (USA) and told them that Communist China was open for business. Deng's project was to let foreign investors into China aside from reviving the businessman spirit. Deng quickly overturned the equality-based society in favor of a no-work, no-way communism. In time, even the late Lee Kuan Yew who was a democrat - praised him for his efforts. Eventually, Deng died before the end of the Ramos Administration in 1997. Deng's policies continued to adhere when he held to socialism or communism with Chinese characteristics.
Do those idiots still continue to insist in developing with only "sariling kakahayan"? Well, that really failed such as when Mao Zedong launched the Great Leap Forward. Mao's decision to try and develop China with just its "sariling kakayahan" only resulted in a MASSIVE FAILURE. It's because the national industrialization plans he had brought forth inferior produce. Mao protected the businesses of his cronies but what cost? China only crumbled because of Mao's poor economic policies. The only one to get rich were Mao and his cronies.The national industry failed because it tried to develop by itself without asking help from others if necessary.
Besides, accepting foreign investments doesn't go against the idea of developing the national industry. That's what Deng kept in mind when he established his new communist republic. Deng decided not to only make it no work means no pay. Deng also forced Chinese businessmen to straighten up by accepting foreign investments. Deng probably told a lot of Chinese businessmen to stop whining and how the foreign investors that they weren't afraid of facing competition. Deng didn't mind if the investors were foreigner or foreign - all he cared about was their contribution. It would be interesting that Deng took ideas from Lee. Deng didn't say, Singapore is too small - China can't follow it." Instead, Deng did it and made China a progressive country by accepting foreign investments.
An irony really that the country that Filipino communists love to use an excuse progressed through open economy. One must ask why are Filipino workers now sent to China too? Did the Filipino workers conquer China? No, instead China is now holding Filipino workers. Before, wealthy families in the Philippines used to import maids from China. Now, China is importing maids from the Philippines. Deng's decision to invite foreign investors so Chinese didn't have to leave home to find a job worked wonders. The Philippines can emulate that too. To do so, the amendment must completely abolish the negative list to do so!
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