Posts

China syndrome?

The China syndrome is taking a heavy toll on imported products from China. For that matter, everybody is now taking extra precautions as to what products they are buying in the markets, which are overflooded with cheap goods from China. Even America, which accommodated so much of Chinese-made goods, was awakened by the recent deaths of domestic pets that are pet food products from China. The above incident has elicited uproar from consumers thus prompting Chinese authorities to investigate and meted death penalty to a high ranking food and drug official in China. According to reports, the incident was spawned by the presence of contaminated food products which eventually killed the dogs and cats in America. However, even with the recent execution of a Chinese official, the fear will hang in the air for a long time. Nobody knows for sure how it will go away. Perhaps, the black eye has caused so many losses on China’s exports, which are now being scrutinized further, especially food and ...

Pacquiao, Barrera rematch?

There we go again. Boxing fans are expected to witness the same old faces at the international boxing arena. Philippines' popular boxer Manny Pacquiao and Mexico's Marco Antonio Barrera are again pitted against each other on Oct. 6 in Las Vegas for a rematch, which many boxing observers considered as a money-making venture by promoters who always hungry for cash. How many times have they fought, with Barrera always going to the canvass? A lot of boxing fans knew first hand that the rematch is surely on the side of Pacquiao , who may have studied the boxing style of Barrera. Unless Barrera's trainers have something new to prove and outwit the lightning punches of Pacquiao , whom even Floyd Mayweather is thrilled to see the Filipino fight his opponent up in the ring. But it seemed Barrera's strategies are not new anymore to Pacquiao , who ran for a congressional seat in his hometown but eventually lost a scion of a political dynasty whose roots are deep in Mindanao pol...

Harsh sanctions for Sudan?

Let us thank China for pressuring Sudan to finally accept the deployment of some 26,000 peacekeeping troops in the Darfur region. However, it is not without a bargain. At this time, Sudan wanted that all the troops be made up of Africans. Of all countries, it seemed only China has the clout and influence to exert pressures on the Sudanese government, which was believed to be one of the prime sources of oil for China. Needless to say, Sudan has not choice at all except to kneel down to what China wanted, considering that the latter has a big stake in Sudan's oil development projects. And who knows, maybe, China is also supplying arms and ammunitions to Sudan, in exchange for oil? Whatever it is, it seemed the ball is now in the hands of the U.N. body. However, the U.N. is still facing a dilemma on how to deal with the political crisis head on. The crux of the matter now is that lies as to whether the U.N. is capable of sourcing our the 26,000 peacekeeping troops that it needed for...

Hong Kong needs to recognize sacrifices of migrant workers

Letter-writer Mr. Kingsley Smith (The Economist, Aug. 4) wrote to praise Hong Kong for its continued economic progress. However, it has failed to recognize the thousands of domestic helpers from the Philippines and Indonesia, who somehow contributed to Hong Kong's economic development for many decades now. Before the eyes of Hong Kong government, the migrant workers, who have been living under tight restrictions, are eyesores in its society. Of all places in Asia, discrimination is a problem that haunts the memories of migrant workers, whose only objective in life is to earn an honest living, doing servitude to people who seemed to be stone-hearted and insensitive to accepted humanitarian virtues. This only happens in Asia, which is supposed to be for Asians, except that Hong Kong, an autonomous region of China, is not part of the Association of Southeast Asian Nations ( ASEAN ). Nobody is certain if it is still dreaming of being the Crown Colony that it once was after it was ...

Brain drain for money

At times, it's funny to think that we find ourselves transplanted in another soil, where lifestyle and culture are a bit distinct from what we were adopted to. But still, we have insisted to try our luck at the expense of long separation from our loved ones. And the bottom line is always economics. The magnet that pulls people, mostly from the Third World, resides in the belief that a lot of opportunities are always available in an advanced economy, though it is tantamount to the sacrifice of loneliness, if only to improve the economic condition of those who have less in life. But the costs are enormous. As always, adjustment is something that we can't ignore, considering the intricacies that go with it which we have to face. Still, no matter what, we persist on living with it by undermining life's risks for the good of those who needed them most. Brain drain is causing a serious toll on the developing world. In the medical field alone, millions have left their families to...

Investments in fixed securities out of reach for OFWs

It is hardly incomprehensible as to why many overseas Filipinos, particularly those based in the U.S., are in quandary on how they could invest some of their hard-earned savings on fixed government securities like the T-Bills and Bonds. While the Bureau of the Treasury is hell bent on encouraging many Filipinos to part with a portion of their savings on these stable government securities, only a handful are convinced that it is better than to park their money in the bank, which is much safer to be. Accept it or not, it is a reality that ordinary workers could hardly make both ends meet in the Philippines, not to discount the fact that a large number of people are mired in poverty. If ever there are willing individuals, most of them are either above the medium threshold or rich, whose excess money are readily available for divsersification elsewhere. Rather than concentrate on the local investors, it is perhaps timely that the Department of Finance should intensify its campaign to allow...

ASEAN economic integration in the making?

The recently concluded 40th ASEAN Ministerial Meeting, which Manila hosted, took stride in attaining the most ambitious plan that would eventually unify the Association of Southeast Asian Nations in so far as economic integration is concerned. This would, in effect, put into stream the European Union-style of economic governance, which will pave the way for the establishment of regional free trade zone by 2015. Although many analysts considered this move as too ambitious, knowing how advance countries would react to such a plan, whose rules are now being ironed out to make it once and for all, a reality. Another aspect that was brought to the table and discussed by the ASEAN ministers focused on creating a human rights body in the region, which the Myanmar generals didn't seem to agree. Records showed that Myanmar has remained a human rights violator, after it has failed to free Nobel Peace laureate Aung San Suu Kyi, a signal that is expected to restore democracy in that part of As...