User Preferences

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

Blog Feeds

The Saker
A bird's eye view of the vineyard

offsite link Reporting from Korea during the 2013 ?crisis?: 5 key facts the West ignores Fri Oct 20, 2017 05:05 | The Saker
by Ramin Mazaheri In 2013 my bosses in Tehran sent me to Seoul, and I felt quite courageous: just like today, Seoul was about to be ground zero for thermonuclear

offsite link Re-visiting Russian counter-propaganda methods Fri Oct 20, 2017 05:03 | The Saker
This article was written for the Unz Review A special ‘thank you!’ to my Director of Research, Scott, for providing me with the background info for this article   Everything

offsite link Vladimir Putin?s speech at the Meeting of the Valdai International Discussion Club Thu Oct 19, 2017 23:36 | The Saker
I am not sure how optimistic it will sound, but I am aware that you had very lively discussions over the last three days. I will try, as has now become customary, to share with you

offsite link SITREP Kurdistan: Pepe Escobar and Alexander Mercouris Thu Oct 19, 2017 21:41 | The Saker
In order to try to provide a profound analysis of what has happened in Iraqi Kurdistan and offer not one, but two, different, but complimentary views, on this topic: Pepe

offsite link Syria War Report ? October 19, 2017: U.S. Blames Assad For ?Hindering? Its Anti-ISIS Efforts Thu Oct 19, 2017 16:54 | Scott
https://southfront.org/syria-war-repo... If you?re able, and if you like our content and approach, please support the project. Our work wouldn?t be possible without your help: PayPal: southfront@list.ru or via: http://southfront.org/donate/ or via: https://www.patreon.com/southfront The Syrian Arab Army

The Saker >>

Human Rights in Ireland
www.humanrights.ie

offsite link Repeal or Replace? Tue Oct 03, 2017 06:31 | Fiona de Londras

offsite link An Abortion Law Immune from Constitutional Review? Thu Sep 28, 2017 20:14 | Fiona de Londras

offsite link Should the pro-choice movement support a new constitutional provision on abortion? Wed Sep 27, 2017 16:19 | Eoin Daly

offsite link Replace v Repeal and the Politics of Legal Certainty Thu Sep 21, 2017 10:57 | Máiréad Enright

offsite link Ireland?s violation of International Abortion rights: A perpetual Déjà vu. Sat Jul 29, 2017 18:49 | admin

Human Rights in Ireland >>

Cedar Lounge
For lefties too stubborn to quit

offsite link This Weekend I?ll Mostly Be Listening to? The Martin Hayes Quartet 06:46 Sat Oct 21, 2017 | irishelectionliterature

offsite link He really loves the Bomb? the more the better. 13:03 Fri Oct 20, 2017 | WorldbyStorm

offsite link Surely a former Bank of England chief would know about the implications of Brexit on customs? Or per... 12:00 Fri Oct 20, 2017 | WorldbyStorm

offsite link Michael Murphy interview 11:00 Fri Oct 20, 2017 | WorldbyStorm

offsite link This Week At Irish Election Literature 06:17 Fri Oct 20, 2017 | irishelectionliterature

Cedar Lounge >>

Dublin Opinion
Life should be full of strangeness, like a rich painting

offsite link Notes for a Book on Money and the Irish State - The Marshall Aid Program 15:10 Sat Apr 02, 2016

offsite link The Financial Crisis:What Have We Learnt? 19:58 Sat Aug 29, 2015

offsite link Money in 35,000 Words or Less 21:34 Sat Aug 22, 2015

offsite link THE WRATH OF KANE: BANKING CRISES AND POLITICAL POWER 09:32 Fri Jan 30, 2015

offsite link ALWAYS THE ARTISTS: WEEK THREE OF THE BANK INQUIRY 23:11 Thu Jan 22, 2015

Dublin Opinion >>

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