Global Trends Issue: Global Financial Crisis

Did we ever thought or imagined that the ultimate country of the world would suffer from this global dilemma? What now for the Philippines, as a scrounger “Third World” partner?

As mentioned, U.S. Government had lost certain policies and control on its wealth. Some of its citizen abused their rights and privileges. This leads to bankruptcy of world-renowned companies and institutions. Philippines, as one of the top exporters of the country was greatly affected.

Aside from the fact that most of the companies in the country are owned by the Americans, some of our Overseas Filipino Workers worked in Western Countries as well. Most importantly, we have products for exports abroad.

Given the scenario, now that U.S. is enduring the crisis, there were volume orders delimitation. Because of this, few companies in the country were unable to survive. There were notable company shuts down for the meantime, but they were unable to go back to business cycle. Some reduces manpower and resources.

Moreover, since we have copious nation servants abroad. These so-called heroes became abandoned victors. Some were mistreated, others were discriminated and unfortunately, few of them lose jobs.

Considering that Overseas Filipino Workers handle prime role in Philippine Stock Exchange, if this bottleneck to economic growth persists, then economic recession will shape.

It is justifiable and viable to think that Filipinos are not directly affected by this global financial crisis. If only there is a peaceful community of true unity towards Philippine growth. If only we could support and patronage our own products and services. If only we could focus more on the development and sustenance of our natural resources rather taking masters of graft and corruption. If only the so-called professionals and gurus of the country would realize their worth in the country, neglecting their aspirations and need of other land.