Why low oil prices could hurt the Philippines.
Ten Million Reasons Why Cheap Oil Might Hurt The Philippines - Bloomberg Business
Best Posts in Thread: Ten million reasons
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ChMacQueen DI Forum Patron Highly Rated Poster Showcase Reviewer Veteran Army
*Bright worker* is a loose term. Compare it to their family members who work for 100p a day or simply don't work and drink tanduay all day long off of someone else's work.
But look also at the nurses and engineers the Philippines sends abroad. Those aren't dumb people while their education may be really lacking at times. They are the cream of the crop often enough.... of course that doesn't speak to well of the crop but its still what it is.-
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ChMacQueen DI Forum Patron Highly Rated Poster Showcase Reviewer Veteran Army
It could be a very good thing for the Philippines if they instead worked on fixing many of there BS ways. Cheap labor in the Philippines with a favorable exchange rate for foreigners. Cheap oil as well. Its the perfect place considering location to open up manufacturing and major production with foreign companies. Bringing in foreign companies especially manufacturing could also help the infrastructure and help improve many suffering issues such as water / waterloss, expensive electricity / electricity loss, internet availability / internet speed, and so forth. That IS if the Philippines did away with many of its old arcane laws that really hurt foreign business's and force the majority to a Filipino interest.
The Philippines is so backwards sending its hardest workers and brightest workers overseas instead of employing them in the Philippines and keeping what they earn and create fully inside the Philippines. Bringing in foreign business regulated but wholly owned by the foreign entity could open up so much potential. They could even open up many non compete clauses with a number of current major Philippine produced products (coconut oil, cane sugar, and similiar) and still do very well.
But for those of us here with open eyes we know the truth. Its about sending out those more likely to demand change in the status quo in the government while keeping those easy to manipulate and use under their thumb of poverty. They don't want the Philippines own economy to grow and strengthen outside their direct control as with poverty lessened education is on the rise with a bigger class who may challenge how the country is ran.-
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I agree with Dave here. While cheap labor may be what the Philippines exports, that labor is probably the more diligent and intelligent portion of the workforce. Much like here in the US the smartest hardest working people tend to flock to areas where they can use those talents to make the most money. A financial professional is more likely to make a move to New York City than they are to Des Moines.
The number of Filipina nurses in the US is somewhat staggering. In this article FRONTLINE/WORLD . Rough Cut . Philippines: Have Degree, Will Travel | PBS it mentions that a large number of rural hospitals in the Philippines have closed due to this. While I realize that this article is about 9 years old I do not believe that much has changed. I work in a hospital so I see this on a daily basis.
I have also seen that business process outsourcing is expected to overtake foreign remittances in dollar value soon philippine remittances 2013 . I have to wonder if the BPO industry would grow faster with the workers that have left the country.
Edit - for some reason the article philippine remittances 2013 from philstar global is not pasting in to the article.-
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