Upcoming Events

International | Anti-Capitalism

no events match your query!

User Preferences

  • Language - en | ga
  • text size >>
  • make this your indymedia front page make this your indymedia front page

Blog Feeds

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link Fergus Finlay: Hypocrite

offsite link Season’s greetings Anthony

offsite link RTEs Mary Wilson: A woman with some brain… Anthony

offsite link Irish journalism: Suffering from a serious malaise Anthony

offsite link Brian Cowen: A political idiot Anthony

Public Inquiry >>

The Saker
A bird's eye view of the vineyard

offsite link Vitalii Churkin Wed Feb 22, 2017 01:54 | The Saker

offsite link Are Russian diplomats being assassinated? (UPDATED) Tue Feb 21, 2017 23:28 | The Saker
Since the death of Vitaly Churkin I see more and more speculations that Russian diplomats are being killed (example here and here)  This is exceedingly unlikely and I consider these

offsite link A former (?) Mossad officer predicts that Trump will be impeached on grounds of treason Tue Feb 21, 2017 15:23 | The Saker
Thanks to “MS” who drew my attention to this amazing video.  This is an except from an RT program entitled “Watching the Hawks” (see full video here).  In this excerpt,

offsite link EXCLUSIVE Interview with first head of LPR South-East Army counter-intelligence unit Vladimir Gromov Tue Feb 21, 2017 14:06 | The Saker
EXCLUSIVE Interview with first head of LPR South-East Army counter-intelligence unit Vladimir Gromov about paths the future of Ukraine and South-East could take. (Interview by PolitWera. Translation by V.P.E.) Can

offsite link What does the Tao say about Europe and Islam? Tue Feb 21, 2017 05:00 | The Saker
by Ramin Mazaheri Look, we are just butting heads here, we Muslims and Europeans. Constantly arguing over whose ideology and culture is superior. And all the while the 1% of

The Saker >>

Human Rights in Ireland
www.humanrights.ie

offsite link Hague Justice Journal: Call for Papers Mon Feb 20, 2017 11:13 | GuestPost

offsite link Reflections on the Citizen?s Assembly (3): The Presentation of Dr. Joan McCarthy Tue Feb 14, 2017 14:01 | GuestPost

offsite link Reflections on the Citizens Assembly (2): The Presentation of Bobbie Farsides Tue Feb 07, 2017 05:44 | GuestPost

offsite link Languishing in Direct Provision: Rights in ?Reasonable? and ?Unreasonable? Times Mon Feb 06, 2017 18:10 | Liam Thornton

offsite link The Story of King Tex: A Modern Allegory Fri Feb 03, 2017 06:20 | GuestPost

Human Rights in Ireland >>

Cedar Lounge
For lefties too stubborn to quit

offsite link What you want to say ? 22nd February, Week 8, 2017 02:09 Wed Feb 22, 2017 | WorldbyStorm

offsite link Peter Graham Commemoration video 22:11 Tue Feb 21, 2017 | irishelectionliterature

offsite link To save the environment we shall now destroy it? 21:37 Tue Feb 21, 2017 | WorldbyStorm

offsite link Rural Independents Group? 13:47 Tue Feb 21, 2017 | WorldbyStorm

offsite link And what of that alternative for the RoI and Brexit? 10:45 Tue Feb 21, 2017 | WorldbyStorm

Cedar Lounge >>

On World Economic Forum on East Asia 2014

category international | anti-capitalism | news report author Saturday June 07, 2014 14:41author by Freedom from Debt Coalition (FDC) Report this post to the editors

All Glitz, Nothing New to Solve Poverty and Inequality

2014fdckpmlsanlakassentronagkaisa.jpg

PHILIPPINES: The World Economic Forum ( WEF ) on East Asia 2014, a gathering of 70 government and public figures and 460 business leaders here in Makati City, conclude its three-day meeting today, May 25, 2014. The affair is about to wrap up as an expensive and glorified talking shop with no new ideas and solutions to offer to what is Asia’s, even East Asia’s , and especially the Philippines’ most stubborn and alarming problems: poverty and inequality.

The WEF 2014 theme : “ Leveraging Growth for Equitable Progress” is itself an admission that poverty and inequality are problems that undermine the triumphalist hype for economic growth that the region’s elites see as the main source of sustained economic progress. The discussions however never strayed from the old, worn-out free market, neo-liberal prescriptions that over three decades have failed to overcome these problems.

Worse, by showcasing the Philippines as a new model for an “ economic turn-around” touting it as “ Asia’s next economic miracle “ , WEF 2014 and its host, the Aquino government, are foisting a big lie before the region, the world and the Filipino people. Despite claims of moderate to high growth rates in the previous more than ten years, the Philippines registered no significant decline in the poverty ratio from 2006 to 2012 ( NSCB, 2012 ). Inequality has worsened. Seventy six percent ( 76%) of GDP growth for 2011 is equivalent to the income growth of the richest 40 families in the country. In 2009, the The Philippines’ gini coefficient ( WB, 2009 ) already made it the most unequal country in Southeast Asia ( no figures for Burma )and one of the highly unequal countries in the world. Nine million Filipinos have gone abroad, not by choice but by necessity, to seek jobs and a better life. More are yearning to follow.

The neo-liberal, free market formula that was pursued for more than two decades has resulted in a failed economy. Many industries have collapsed and agriculture stagnated. The limited land reform was stuck in the mud. Joblessness have become widespread. Education, health and housing services deteriorated further as the State conceded these areas to increasing corporate takeover. Gender inequality worsens on top of social inequality. National and people’s sovereignty has increasingly become a dead letter in the Constitution and the laws of the land.

On the other hand, the combined profit of 30 companies in the Philippine Stock Exchange composite index rose by 635 percent, compared to 59 percent growth of GDP and GDP per capita increase of 13 percent. Indeed, the neo-liberal, free market formula is an excellent one for corporate greed.

Annual climate change and ecological disasters have not only eaten away the little improvements made in poverty reduction and economic production but have added more figures to poverty ratios and thus, to inequality. The Yolanda devastation of last year has enormously proven this. As we expect and ought to brace for more climate change and ecological impacts, the government has been very slow in putting into place comprehensive adaptation and mitigation measures. Worse, it is passing on its responsibility for rehabilitation and reconstruction of devastated areas to big corporations.

Governance is cited as a bright prospect under the Aquino administration. This is fast becoming more spin than fact. After a few high-impact moves like the Corona impeachment, the anti-corruption drive settles to a slow grinding motion. The abolition of the pork barrel PDAF is decisively a citizen initiative supported by the media. In fact, the pork barrel scam exposed the administration’s extensive and aggressive play to use the pork barrel beyond the requirements of transparency and accountability.

No, there is no turn-around happening for the Philippine economy. Without dismantling neo-liberalism and finding solutions to inequality, the nation is headed to another lost decade as the FDC SONA Statement of 2013 warned.

http://www.fdc.ph/

2014philippinesactivistsaktibistamakibaka.jpg

2014philippinesdemocraticleft.jpg

2014philippinesprotestwefcorporategreed.jpg

© 2001-2017 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy