The Philippine Economy

THE ECONOMY was wayward. Given the best will and cooperation of investors both foreign and local and a large measure of luck, the Philippines would need a considerable number of years to return from the shaky financial footing during the administration of President Digong Duterte. But before anyone with money would think seriously of investing in the country, Bongbong Marcos Jr. would have to show that he was in control of the government. Sadly, he was not.

Although he got the top position, he seemed incapable of administering either vengefully or benevolently. Bongbong, totally unschooled and inexperienced as a leader and a decision maker, was floundering. Political intrigue blotted out cooperation for the good of the country, particularly the sacrifices required to institute vitally needed reforms.

His enemies were not only the ones who stood in his way. Many of those closest to him, including his appointed advisers and members of his family, dominated the president’s time with what they unabashedly acknowledged as political rope-a-dupe.

In the world of economics, Marcos Jr. stayed away from the hard choices he should have been making. He flailed about, assigning the wrong people to essential jobs, listening to a cacophony of opinions, and otherwise dissipating energy. The “pink generation” had warned of this during the early stages of the campaign when they echoed that “the presidency allowed no time for on-the-job training.”** — Sign of the Cruz/Penpower Pilipinas