imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Subscribe Calendar Publish RSS
Tell the NSA: StopWatching.US

latest news
best of news



CopWatch LA


A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List


IMC Network: africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech
printable version - js reader version - email this article - view hidden posts - tags and related articles

On World Economic Forum on East Asia 2014

by Freedom from Debt Coalition (FDC) Saturday, Jun. 07, 2014 at 5:42 AM

All Glitz, Nothing New to Solve Poverty and Inequality

On World Economic Fo...
2014-fdc-kpml-sanlakas-sentro-nagkaisa.jpg, image/jpeg, 514x324

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.

Report this post as:
Share on: Twitter, Facebook, Google+

add your comments

World Economic Forum

by Freedom from Debt Coalition (FDC) Saturday, Jun. 07, 2014 at 5:42 AM

World Economic Forum...
2014-philippines-activists-aktibista-makibaka.jpg, image/jpeg, 480x360

Report this post as:
Share on: Twitter, Facebook, Google+

add your comments

World Economic Forum

by Freedom from Debt Coalition (FDC) Saturday, Jun. 07, 2014 at 5:42 AM

World Economic Forum...
2014-philippines-protest-wef-corporate-greed.jpg, image/jpeg, 480x360

Report this post as:
Share on: Twitter, Facebook, Google+

add your comments

World Economic Forum

by Freedom from Debt Coalition (FDC) Saturday, Jun. 07, 2014 at 5:42 AM

World Economic Forum...
2014-philippines-protest-wef-corporate-greed.jpgut1qga.jpg, image/jpeg, 480x360

Report this post as:
Share on: Twitter, Facebook, Google+

add your comments

Local News

Kapparot Chicken Slaughter Causes Outrage: Activists Demand Change O06 1:59PM

Update on WHAT IS HAPPENING AT KPFK and what can be done & elections O05 12:39AM

A Letter (sent) to L.A. Slut Walk O03 12:51PM

Protesters Enact Symbolic "Die In" to Unwelcome Narendra Modi to Silicon Valley S28 3:52PM

More Local News...

Other/Breaking News

Mino Monsters 2 Evolution [ifunbox][hacks][no][jailbreak][gold][2015][cheats][engine][6.3] O13 3:58PM

fbi illegally prevents the sale of our property in Mexico O13 2:15PM

Thousands dead in Areas of Turkey linked to groups in US on several sides 2015 O13 7:14AM

Exponentially Rising Global Terrorism O13 2:23AM

Proximospective de l'univocité réifiée O13 1:19AM

Opposing Views on Premeditated O13 12:52AM

Daily Israeli War Crimes in Palestine O12 11:32AM

War on Jeremy Corbyn Rages O12 9:00AM

Unconditional Basic Income Raises the Right Questions O12 6:51AM

CBS' 60 Minutes Interviews America's Liar-in-Chief O12 4:13AM

Putin's Righteous Syrian Mission Continues O12 2:31AM

How hate goes viral. AsoOmii Jay posts scene from a movie as real life. 3,000 repost it O11 9:03PM

USA Overthrown from Within O11 12:53PM

Were Deadly Ankara Blasts a False Flag? O11 7:38AM

Netanyahu Unleashes Settler Violence, Targets Palestinian Hospitals and Patients O11 7:21AM

(A-Radio) Entrevista a la Federación Anarquista en Glasgow sobre su trabajo, el referéndum O11 6:32AM

Putin: The Preeminent World Leader O11 2:58AM

Israel's Killing Machine Takes More Palestinian Lives O11 12:20AM

End Climate Crimes O10 3:17PM

The Real fbi Behind The Facade O10 12:22PM

Putin's Righteous Mission O10 8:46AM

Does Netanyahu Intend Full-Scale War on Palestine? O10 8:24AM

Paraphysique de l'administration O10 3:36AM

Putin Checkmates Obama O10 2:54AM

Netanyahu's War on Palestine O10 12:27AM

Hedge Fund Threatens Trade Tribunal to Sue Peru for Old Military Debt O09 3:47PM

The Expulsion of Arabs from Spain 1492 O09 11:01AM

Obama Abandons Scheme to Train Nonexistent Syrian Moderates O09 10:30AM

More Breaking News...
© 2000-2003 Los Angeles Independent Media Center. 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 the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy