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At EPIC25, let us build a strong Philippines with four ideas to conquer the world 330 times as large as the Philipn economy.

1. Work with multinationl firms to assemble + export their products from the Philpns. With their technologies + products that we lack combined with Filipino wages only 40% as high as in China, we'd enable the Philipns to earn big dollars to invest in imported machines, build thousands of factories, create many million jobs, and develop a rich industrial nation able to feed, house, modernize and defend itself.

2. Let's set up a Fil-Am Bank to fund step 1. The income of 4 million FilAms exceeds that of all 100 million Filipinos. Capital is needed to make rapid progress. There are Korean-Am and Chinese-Am banks. Why not an EPIC Fil-Am Bank more global in action than existing Filipino banks?

3. Let's AMEND our terrible Constitution that limits foreign investors to only a 40% ownership share in new electric power, railway, ports, water, and telecom systems that they build. This limitation has repelled foreigners. Annually they now invest only $2 billion in the Philipns versus $105 billion into four Asian Tiger economies small in total population. So we lack infrastructure. Example: electricity supply per Filipino worker is only 6% as high as for each Asian Tiger worker. So, local and foreign firms can erect only few factories, resulting in unemployment and much poverty. LET'S LIBERALIZE OUR Constitution, THE KEY REASON we are poor.

4. SUMMARY: LET'S STOP being a people unfocused globally. Let's abandon weak efforts--land reform, Gawad Kalinga, Bayan Muna--that attract no global capital. Let's avoid trivial yahoogrup blah blah, but do the big ideas above. Let's win in the world 330x as big as our economy, employ millions, get rich, pay officials MORE. Corruption would ebb, birth rates fall, universities improve. We would be a great nation finally, equal to our Asian neighbors.

Norman Madrid, Economist, New York, 516-481-0725

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  • 232
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  • Apr 23, 2007
  • English

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