Author: 29042012

The Philippines, a role model for China   [Copy link] 中文

Post time 2013-2-28 17:13:03 |Display all floors
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Writer's real name is Lau Guan Kim.  lau_guan_kim is for commentary and analysis. He writes also under another alter ego jinseng. I will respond to good reasoned debate. Mudslingers shall be ignored. What I do not like are ignorance, stupidity, chauvinism and bigotry. The other party has as much right as I have until it resorts to insults and nuisance.

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Post time 2013-2-28 19:24:20 |Display all floors
No,

but it deserves the "title"  "  P E O P L E S    REPUBLIC" much more than China !
It is indeed very practical that the party is  judge, legislator, head of the army, executor  and  publisher  all in one in China.

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Post time 2013-2-28 20:04:46 |Display all floors
expatter Post time: 2013-2-27 01:12
You should come here more than three times a year if you believe that .........   

Welcome back ...

Thank you for your polite obfuscation in ignoring my points.

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Post time 2013-2-28 20:35:04 |Display all floors
Philippine Peso Rises to One-Week High After Inflows Accelerate

The Philippine peso rose to a one- week high after global funds quickened purchases of local assets amid optimism a strengthening economy will help the nation win its first investment-grade debt rating.
The currency headed for a second monthly gain after the central bank reported Feb. 14 that net inflows into stocks and bonds were $1.3 billion in January, almost six times the amount in December. Gross domestic product rose 6.6 percent last year, the most since 2010, the latest data show. Finance Secretary Cesar Purisima said last week he sees a good chance of a rating upgrade by Fitch Ratings, which reviewed the country this month and ranks it at the highest junk grade of BB+.
“Investors are still flocking to countries like the Philippines where they are expecting better economic performance and improved credit ratings,” said Emilio Neri, an economist at Bank of the Philippine Islands (BPI) in Manila.
The peso appreciated 0.1 percent today and this month to 40.662 per dollar at 11:17 a.m., according to Tullett Prebon Plc. It touched 40.63, the strongest level since Feb. 20. One- month implied volatility, a measure of expected moves in the exchange rate used to price options, was unchanged at 3.9 percent.
Sustained easy monetary policy in the U.S. may support risk appetite and push funds to emerging markets including the Philippines, central bank Governor Amando Tetangco said yesterday. Bangko Sentral ng Pilipinas will consider further prudential measures as appropriate “to aid market participants in correctly pricing and perceiving risks,” he said. “We could also further refine our conduct of monetary operations.”
Best Performer
The peso strengthened 5.4 percent in the past 12 months, the best currency performance in Asia.
The yield on the 9.125 percent peso-denominated government bonds due September 2016 declined one basis point, or 0.01 percentage point, to 3.13 percent, according to prices from Tradition Financial Services.
Bangko Sentral cut the rate it pays on about $44 billion in its special-deposit accounts to 3 percent from more than 3.5 percent last month while maintaining the benchmark overnight borrowing rate at a record-low 3.5 percent. There is room to further refine the special accounts to keep them as a liquidity management tool and not an investment outlet, Tetangco said on Feb. 15.
It is indeed very practical that the party is  judge, legislator, head of the army, executor  and  publisher  all in one in China.

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Post time 2013-2-28 20:37:05 |Display all floors
We’re attracting Japanese investors

Late last week, a buzz was created in the Japanese business community by Sumitomo Corporation on the growing attractiveness of the Philippines to Japanese investors. Sumitomo issued a press release that declared “among Asian nations where many Japanese manufactures have invested, the Philippines has been gaining power as an exporting nation…”

Sumitomo cited our “attractive tax incentives as well as rich human resources equipped with English language skill.”  Sumitomo went on to say that “in line with this trend, since 2011, the foreign direct investment from Japanese manufacturers to the Philippines has been increasing.”

Thus, Sumitomo announced it has decided to launch an expansion project of an industrial park south of Manila it co-owns with the Lopez Group’s First Philippine Holdings. Sumitomo says it “believes the Philippines will further increase its position as a strategic location for export-oriented industries compared to other Asian nations…”

The Sumitomo press release received wide attention in the Japanese and international press. The Asahi Shimbun reported that Sumitomo “has begun expansion work at the First Philippine Industrial Park in Manila, to add approximately 100 hectares of property for leasing and allow for additional factories to be constructed upon completion.”

The Financial Times, on the other hand, observed that Sumitomo’s move means “a fair amount of this newer investment by Japan Inc is happening at the expense of China, as companies balk at spiraling labor costs after the flare up over a tiny chains of islands in the East China Sea.”  

The FT also noted “Japan’s total FDI stock in the Philippines stood at just over $10 billion at the end of 2011, according to government data, more than five times the level of a decade earlier – a rate of growth exceeded only by investment in India (13x), China (8x) and Thailand (6x) over that period, within Asia.”

The fresh interest of Japanese investors in the Philippines is also because of efforts of Manuel M. Lopez, Philippine Ambassador to Japan, to highlight positive developments in the country since the new administration took over. Since he arrived in Tokyo, Mr. Lopez has been constantly meeting with key Japanese industrialists, using his extensive relationships developed from his previous position as Meralco CEO.

Ambassador Lopez e-mailed me from Tokyo his reaction to the Sumitomo story: “Just the fact that the following Japanese companies are going to commence operations this year and at the same time employ thousands of Filipinos is a testimony of what we have been working on… companies such as Murata – chips maker for semiconductor industry… Brother and Canon, both in the printer sector, Bandai – big toy maker, Fuji Optical – makers of optical lenses, Furukawa – maker of wiring harness for automobiles. These are some of the big ones. Uniqlo – the biggest retailer in Japan opened last year in MOA, and is planning 10 new stores in the coming year. There are many smaller ones, and others are about to sign up. Mitsubishi Motors is one. They presented to the President their plans for expansion in the country last week.”

First Philippine Industrial Park (FPIP) which is owned 70 per cent by the Lopez Group and 30 per cent by Sumitomo was established in 1996 in Santo Tomas and Tanauan City in Batangas. It has a total developed land area of about 350 hectares with exports in 2011 of about $1.41 billion.

FPIP has until recently been managed almost from the start by Hector Dimacali. Hector, who is more popularly known as the husband of the owner of the Mary Grace pastry shop chain, nurtured the park’s development through the tough Asian economic crisis and the years during the Arroyo regime when the country’s reputation among foreign investors was at its lowest.

Before he retired last month, Hector presided over the inauguration of the facilities of big locators including Honda, Nestle, Canon, Brother among others. He also successfully negotiated for the expansion of the industrial park by acquiring an adjoining property owned by San Miguel.

It is indeed very practical that the party is  judge, legislator, head of the army, executor  and  publisher  all in one in China.

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Medal Medal of honor Gold Medal July's Best Writer 2012 October's Best Writer 2012

Post time 2013-2-28 22:19:27 |Display all floors
changamullah Post time: 2013-2-28 20:04
Thank you for your polite obfuscation in ignoring my points.

You are more than welcome  .......  

I would add that I was at a loss as to your point  .............

Very strange - I've never heard you speaking out for those supporting democracy in China.


Incorrect! I advocate democracy in China, but at a pace to suit such as does not cause civil war and strife that causes China to regress the progress made to date to the detriment of the majority of citizens .........

Only speaking in support of the government when they are jailed, harassed (including families), and held under house detention without trial.


Here you imply with your subject and antecedent that the government is jailed etc and I cannot see the logic here .........   

Now, speaking of being blind to suit agendas ...


And to follow that former idea up with this  ...........

Seems well, quite meaningless  .........   





What the world needs is more geniuses with humility, there are so few of us left  -   Oscar Levant

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Post time 2013-2-28 22:45:19 |Display all floors
Expatter quote:

"Incorrect! I advocate democracy in China,"

You surprised me (positively) !

But I am afraid that the current system is not capable of reforming itself, since at some point it has to either abolish itself or agree to share power with other parties.

I am quite pessimistic that this will work "Gorbachev - style".
It is indeed very practical that the party is  judge, legislator, head of the army, executor  and  publisher  all in one in China.

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