and many local farmers are digging for gold instead of preparing their fields for rice, because the imported rice undercuts the selling price and because the price of diesel and fertilizer makes it more expensive to grow and harvest.
We are green and sell organic rice, but since we no longer have waterbuffalo and use a harvester thresher instead of harvesting by hand and then using our small thresher, you can see the problem: Modern agriculture needs oil.
well, anyway, last year there were reports about economic zones and investment in Luzon. Clark and Subic are two areas this is being done.
from last year:
from today:
the full US announcement is HERE.
Excerpt:
Under Secretary of State for Economic Affairs Jacob Helberg today announced the United States’ and the Philippines’ plans to establish a 4,000-acre industrial hub to secure inputs vital to American and global supply chains. The site is located in the Luzon Economic Corridor of the Philippines. The site—the first of its kind—is being designated by the Philippines as an Economic Security Zone, a new model for AI-native investment acceleration hubs being developed under the Pax Silica Initiative.
... Enhanced Operational Certainty: The Economic Security Zone is intended to fuse American expertise in institutions and legal regimes – internationally enforceable contracts, transparent regulatory standards, and expert dispute resolution – with enhanced access to the Philippines’ outstanding workforce and talent, mineral endowments, energy resources, and strategic position at the crossroads of Indo-Pacific trade.
...more at thee Pax Silica website of the US State Dept:
If the 20th century ran on oil and steel, the 21st century runs on compute and the minerals that feed it. This historic declaration hails a new economic security consensus ensuring aligned partners build the AI ecosystem of tomorrow—from energy and critical minerals to high-end manufacturing and models.
,,,,
the problem is corruption.
Don't tell the Chicago style pope that he needs to preach thou shalt not steal, not vote Democrat so we can keep our pedophile protecting bishops rich.
(sorry, Three Hail Marys for my snide remarks)
Of course the problem is the IMF is threatening the Philippines because they have a big debt.
and this story says: Watch where you invest.
...
StrategyPage has a summary of what's happening in the PHilippines LINK
Major events last year include improvements in infrastructure with many new roads and upgrades to airports and shipping facilities. This comes after years of little improvement. The difference has been noticeable to most Filipinos. Problems remain including high unemployment, escalating inflation, the local currency, the peso losing more value versus the dollar and general economic stagnation.
this video explains what is going on (is it accurate? I don't know, but we are seeinng Japan moving businesses into the Philippines.
And remember: China and Chinoy families run the economy here. Second thing to remember: Taiwan was once Japanese.
