We are in deep trouble

Posted on July 5, 2006 - Filed Under Punch Forum |

Romeo Manuel
5 July 2006

Ermin,

The stats from the CDI report you have mentioned in your column is proof that, if nothing is done about it, Philippines will truly encounter unimaginable difficulty in a global economy. Western economies and international institutions are bent on following the economic models conceptualized by Adam Smith and David Ricardo. The Ricardian model is based on law of comparative advantage. There is virtually no product or service in the Philippines that provides comparative advantage with other trading nations. Our economic structure is so weak. Every administration is clueless as to how to institute an ecosystem of competitiveness such as first-rate education, incentives, and infrastructure. if our country cannot produce a workforce with knowledge and skills that can satisfy the demands of international businesses and institutions, then we are indeed in deep trouble.

Romy Manuel

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