Despite a location ideally suited to attracting investment from China, Taiwan, and Japan, a labor force that is relatively educated, english speaking with millions of successful overseas workers, the Philippines has failed to attract manufacturing investment. This is because no administration has managed to reform a shambolic, corrupt and chaotic regulatory and bureacratic business environment. Costs are artificially high due to oligopolies in telecommunications and electrical power costs are high. Importing parts and raw materials needed to manufacture competitively is difficult. Compared to Vietnam, manufacturing in the Philippines is a nightmare.
@macolet97112 жыл бұрын
Philippines is having a hard time to compete in Manufacturing due to high electricity and logistic cost. Being an archipelago and isolated from the mainland Asia. Logistic cost to move raw materials and finished products is costlier. Thailand and Vietnam have the advantage because they are more accessible to China and the rest of Mainland Asia.
@omniyambot98762 жыл бұрын
@@macolet9711 I wonder why I never thought of these.. how about japan? Also an island. But of course, culturally, historically they have an advantage.
@macolet97112 жыл бұрын
@@omniyambot9876 Japan is one of the pioneers in Industrial Revolution. They used to have cheap labor and electricty before they become a developed Country. But, they no longer competitive as they used to, without Govt subsidy and assistance. Their main advantage together with Korea, Taiwan are their homegrown global companies which Vietnam, Thailand, Malaysia and Indonesia dont have. There will come a time that these countries will lose their competiveness too once labor cost will start to rise.
@omniyambot98762 жыл бұрын
@@macolet9711 what countries? The SEA countries you mentioned? Also, is the Japan, Korea, Taiwan economy at its peak? Also, what makes Indonesia such a giant compared to Philippines? They are quite similar. Because has parts closer to the mainland? Connected to Malaysia? It's okay if you don't want to answer.
@onemigreyes89502 жыл бұрын
I was wondering why the Philippines is the 3rd in Asean even with it's "protectionist" stance? Now that the Duterte government has released the "spirits from Pandora's box" ( Foreign ownership and further ownership liberalization through the "FOCI CLAUSE" filter and digitized automated governance leading to smooth ease of doing business).I wonder what's stopping the investors if as we speak right now the infrastructures are already in the works. What's stopping them right now from leaving Vietnam and Thailand like when they left India for the Philippine's BPO? What will stop them?
@JAMR07162 жыл бұрын
Moral of the story: if you're a government running a successful industrial business and your employees are happy and turnover rates are low, don't sell the company to greedy private investors! "If you want a job done right, do it yourself!"
@darrellng76172 жыл бұрын
nah, you're talkin about filipinos here.. they all want the glory but none of the responsibility
@eljayalcantara36332 жыл бұрын
Fidel was a soldier doesn't know how to run a business even a government
@dominoslays42862 жыл бұрын
@@darrellng7617 And are you Filipino yourself? Or are you some glorified foreigner thinking the world owes you a favor?
@sylviam65352 жыл бұрын
Anything that is government owned is usually run terribly and subject to corruption.
@mefavevo2 жыл бұрын
oh hey i see this factory almost everyday, didnt know it had this kind of backstory
@sisyphusvasilias39432 жыл бұрын
You're a diamond in the rough Asianomettry. I shouldn't enjoy such dry topics and presentations but you make it work, I love these essays.
@kingphiltheill2 жыл бұрын
Couldn't have said it better
@stellviahohenheim2 жыл бұрын
His presentation is simple and straight to the point, also i love how he didn't feel the need to add background music as i always find it distracting
@antman76732 жыл бұрын
I would call it nutritious. Well structured information. Lectures on math are „dry“.
@jansix42872 жыл бұрын
What’s dry about the economic foundation of nations? 🇩🇪🤷
@legendjoker13172 жыл бұрын
@@kingphiltheill 07777
@joshieepophide-hide33222 жыл бұрын
Ramos is a soldier with no prior knowledge and experience about business and economics. When the government started to neglect its properties and companies, it gave way to opportunistic entities to slowly destroy Philippine economy from the inside.
@Monstrick12 жыл бұрын
No one is interested in success but yourself. It seems stupid that they just tossed management to ousiders, probably because it's own got overly corrupt. It's a common attempt to a common problem.
@abdulfatahpandita15652 жыл бұрын
Ramos is a Civil Engineer wtf r u talking about
@wysteriousmimic14022 жыл бұрын
What really happened is that he just continued what Cory started. Cory is the one who initiated all these sellings of government owned industrial companies to foreign investors, to provide opportunity for conglomerates like the Sy, Lopez, Cojuancos etc. It's not like FVR is dumb, it's a planned scheme starting from ousting Marcos so that private companies can take hold of the Philippine's natural resources and start monopolizing the capitalization of the industrial companies like mining, lumber export etc. it is similar to the tactics of the South Korean chaebol where the government is slave to these private companies because they got too much unchecked riches and the government cant say no to them
@theotherohlourdespadua11312 жыл бұрын
@@wysteriousmimic1402 And he didn't do a good job developing those...
@juamu11322 жыл бұрын
@@abdulfatahpandita1565 a civil engineer that doesn't understand the strategic value of steel.
@nightbotisahuman73882 жыл бұрын
"The government ain't supposed to run a steel company" - Fidel Ramos a.k.a. Boy Benta
@leclanche71272 жыл бұрын
American boy eh
@ianhomerpura89372 жыл бұрын
Mga na impluwensyahan masyado ng American libertarians, especially Friedman.
@harukrentz4352 жыл бұрын
@@leclanche7127 lol i was about to say the same 😂 Ramos was a man growing up under the US' influence but i think more and more countries are understand the importance of basic industry owned by the state.
@paranoya7332 жыл бұрын
LOL PH is not a private country yankee boy!!
@josemartymario31372 жыл бұрын
Natumbok mo.🤣🤣🤣🤣
@capmidnite2 жыл бұрын
What an interesting contrast to POSCO, South Korea's attempt at building up an indigenous steel industry. It was initially predicted to be an expensive failure but ended up producing steel at competitive prices and ended up supplying Korean industrial sectors such as automobiles and construction.
@almond55602 жыл бұрын
@Zaydan Naufal only one didn't start as a state enterprise.
@babagandu2 жыл бұрын
@Zaydan Naufal yaaaa khuuuuuudaaaaa
@ruominzhang60852 жыл бұрын
@Zaydan Naufal Cosco is a Chinese shipping company, Costco is a store
@WeatherManToBe2 жыл бұрын
We even use Korean steel in Canada!
@babagandu2 жыл бұрын
@@WeatherManToBe we use Chinese noodles in India
@TonzLanggoy2 жыл бұрын
My dad was one of those employees who lost their jobs due to the closure of NSC. As an accountant to the company he said during the time of fvr, the company was mismanaged and that there were too much higher level workers(manager supervisors and etc) than of the lower level ones.
@lizbeth27642 жыл бұрын
perting looya sa taga iligan pagbaligya aning tabako ba
@baepedro2 жыл бұрын
Surely much of those supervisors are just ghost employees and some of politicians is milking it
@erwinrowelboiser95632 жыл бұрын
MY AUNT AND UNCLES LOSES THEIR JOBS DUE TO THE SELLING OF THIS FACTORY OF WHICH 15.K WORKERS ENDED FOOLISH LEADERS LIKE CORIKONG AND BOY BENTA RAMOS NGA KURAKOTS.
@alken46682 жыл бұрын
Nagabaan ang NSC.. daghan mga kabit, pamilya na bungkag.... Murag silot dyud sa iligan mga worker sa NSC.. usahay hambugero ning uban ha.. .. hai.. lahi ang balos sa Ginoo.. damay tanan..
@lizbeth27642 жыл бұрын
@@alken4668 korek pod ka, daghannnn kabit g hambugero mga workers, nadamay tawn ang tarong, from industrial city of the south nahimong city of water falls pero permi way agas pa jud
@seraphoem2 жыл бұрын
This hurt to watch as a Filipino. Sucks, and I do hope we can finally revive our industries here with competent leadership…someday.
@troy42982 жыл бұрын
competent leadership? Ha in a million years i guess
@aiman90882 жыл бұрын
with Marcos Jr being the president. That's gonna be a awhile T_T
@envynitar2 жыл бұрын
Hahahahahahahahahahahahaha
@AkoyTamad2 жыл бұрын
@@aiman9088 He will be focusing on the same tired populist agenda that does not do anything to build the Philippines economy.
@spongeotakuph2 жыл бұрын
@@aiman9088 just be thankful that the original Marcos and his rival Cory (despite mothballing Bataan Power Plant) supported NSC. Marcos' second cousin Ramos ruined our NSC, resulting to a domino effect that critically injured our manufacturing industry.
@Girder32 жыл бұрын
One notable Philippine steel company that's been investing in expanding their capacity in recent years has been Steel Asia, which has invested several billion dollars in integrated steel mills over the past few years. They've offered to revive the Iligan steel plant.
@babagandu2 жыл бұрын
I love Filipinas
@bigmedge2 жыл бұрын
Do you know if they’re in the process of buying it , or what the status is ?
@simonjames94812 жыл бұрын
Yes. Philippines steel company is expanding very fast. I hope the government supports them by limiting or banning the importation of steel.
@SMGJohn2 жыл бұрын
@@simonjames9481 Why should the government limit the market forces? Let Free Market plunder your country, only the strong survive, and you are not strong enough if you need big daddy gubernment to save you, in fact just abolish your gubernment, let the Corporations run your country.
@bigidlagger75892 жыл бұрын
@@SMGJohn TF!?
@folag2 жыл бұрын
The company was looted by the original Filipino owners from the get go. Sales were exclusively channeled through a "marketing company", which never paid the steel mill while collecting the sales revenues from customers. The government was also left holding the bag by having to make good on the guarantees it issued for the loans by which the owners were supposed to pay the equipment suppliers. Having been built to a scale below the minimum economic size, the plant nevertheless saw a renaissance of sorts during the 80's through the combination of the earnest efforts of government appointed management, and tariff protection. During the 90's, the company was privatised by the Fidel Ramos administration, which inexplicably sold a bunch of other government owned assets besides the steel mill to dodgy Malaysian investors who merely looted the assets. Ramos also misguidedly lowered tariffs, supposedly to prod Filipino enterprises to become competitive without however building the infrastructure to help them operate competitively. The project never had a chance to fulfill its declared mission.
@CenturyPHirstCorporationInc2 жыл бұрын
The Jacinto's?
@folag2 жыл бұрын
@@CenturyPHirstCorporationInc Be careful not to tar the entire Jacinto clan.
@rock_ok2 жыл бұрын
the entire media was on it and it was said it was illegal abscbn had a coverage of the issues the lead poisoning. everyone was environmental and the smokes going out from its steel industries. in the first place, it should never be close to a city or town or village maybe it was close because of those issues. famous last words "the government does not run a steel industry" if the government had only run it and it was never privatized then maybe it had a chance. like this in modern times were people are doing volunteer work and unpaid jobs are common. then may be it can stay afloat longer
@Typesmacker2 жыл бұрын
I agree, so sad.
@darrellng76172 жыл бұрын
am not even surprised..how much do filipino oligarchs help in nation building vs chaebols, its disgraceful.
@nanwanwon952 жыл бұрын
I live in Iligan City, and I'd say, there's a huge steel masterpiece at their admin building, it's beautifully made, like a huge canvas of steel art, welded by highly skilled welders. Also, NSC was so popular back then, and the employers there were so rich they can even pawn their uniform. Even when I go to Cebu and ride a cab, when the drivers were informed that I live here, they'd immediately ask me about NSC.. I also had a chance to get inside the property, which is really strict before pandemic, and it's amazing, there are also a lot of preserved things there that were displayed like the first computer invented, the uniform, the helmet, etc., everything you'll see at NSC back then. It's not that easy to get inside though, so I was quite lucky to get the chance. Interestingly, there's a black horse roaming freely around it. :D
@samsilverman8242 жыл бұрын
K. Choo....how tall R U?
@g7enn892 жыл бұрын
They also have that giant robot before, about 30 - 50 ft. tall, like a Gundam. When I was a kid, I always make sure to see it every time we pass by NSC. lol
@erwinrowelboiser95632 жыл бұрын
The NSC WAS SOLD THE MALAYSIAN, WINTEK AND LATER ON BY SISTER COMPANY. GOTEK AND THE LAST ONE WHO BOUGHT IT WAS FROM CHINA THE MACHINERIES WERE PIECE BY PIECE BROUGHT TO CHINA. ALREADY.
@Walker9832 жыл бұрын
You are giving a Poetic perspective of an Industrial plant . . . I love it !
@imyourfather68282 жыл бұрын
I'm from Iligan City as well...I got in there once during a GSP campaign. Have to say that the infrastructures as well as the abandoned objects are in a very poor condition that time. But the area is super huge. I really² want to tour the whole area however I was quite scared because of some random snakes that can possibly just crawl or even hang in front/above of me lolol.
@yokogoph2 жыл бұрын
Knowing that we had a national champion makes me sad.
@kkklover892 жыл бұрын
Coming from the same guy who sold petron. Look at oil prices now. Edsa was not about liberating the filipino people, but liberating the assets of the filipino people.
@yanglee14042 жыл бұрын
It's stupid to accept the loan via privatisation first. The steel mill should be established under able people and governmental monitoring and support until it became a world class steel giant or well managed, then privatisation could be considered. Able people and management matter most. Look at the stories of Taiwan in establishing steel industry and semiconductor industry, you'll understand the differences.
@andreascserna2 жыл бұрын
@@kkklover89 please explain how you correlate the relationship between Petrons sale in the 90s to today's prices. Your second sentence is explains your comment as political spite when this is a channel about economic and scientific historical analysis.
@kkklover892 жыл бұрын
@@andreascserna study first who sold petron and economic history. Your iq is the same as when edsa occured.
@andreascserna2 жыл бұрын
@@kkklover89 you come here making broad claims with no explanation then you call other people dumb for not assuming you are correct let alone explaining how it relates to a video about the history of the Philippines steel industry. Classic propaganda.
@jackjohn82462 жыл бұрын
Thanks to president Ramos “ boy Benta”. Philippines now importing steel instead of exporting.
@thakin11092 жыл бұрын
The lack of emotion in your presentations is really appreciated. I don’t feel the need to apply criticism or read between the lines and you sound level-headed. You don’t spare any details. Even when I sometimes disagree with the information presented, I can’t help but also appreciate that you don’t incessantly hamfist your worldview in your videos. 👍
@turdferguson34002 жыл бұрын
There's definitely a lot of emotion in the presentation: it's a very sad story of corruption and mismanagement and the loss of a country's amazing industry.
@ArawnOfAnnwn2 жыл бұрын
@@turdferguson3400 Emotion in the story itself perhaps, but not in his presentation of it. He always maintains composure and an even tone no matter the topic at hand.
@xXxSkyViperxXx2 жыл бұрын
i guess he records the script rereading so passed the first reaction emotions already
@oriole87892 жыл бұрын
Yeah, to each their own. Some people can't pay attention to information, unless it's presented in an emotionally-engaging way. It's a different audience. Personally, I like dry, factual presentations like this. I would say "the general public" prefers emotional presentations. Tech and business people prefer dry and factual.
@norandomstuff2 жыл бұрын
unlike real life lore.......
@ichinichisan2 жыл бұрын
Best practice is to credit the Reddit user, rather than just "Source: Reddit." Imagine if someone credited a clip from this video as "Source: KZbin."
@acctsys2 жыл бұрын
Who would have thought that lack of innovation, incompetent management, overly generous compensation, and reliance on government bailouts ruins competitiveness?
@MayankSingh-qg4zv2 жыл бұрын
Im proud of TATA's that india from start always had a robust steel industry ran by a private sector
@thelakeman25382 жыл бұрын
Steel is one of those industries where both public and private sector companies have been major players for decades, for example the public sector SAIL has a larger domestic production today than Tata steel.
@valopf78662 жыл бұрын
This video is not about India. Stop forcing your "Indian pride" on off-topic content. Did you see any other people from country's like Germany, the USA, Japan, China or South Korea posting about how proud they are of their steel industry? The answer is no, because it's not relevant information to the video.
@hughbryant8982 жыл бұрын
I highly appreciate your presentation. Bad business decisions that started with American protectionist loan terms, compounded by greed & incompetent management lead to this sad state of this supposedly pillar of manufacturing and construction industry. I got depressed over a regretful wasted opportunity.
@cv990a42 жыл бұрын
Export credit agency financing is routine for these kinds of purchases - most large countries finance exports of their own goods, whether the US, UK, France, Germany, Brazil, Canada, Japan, etc. China hands out $billions in loans and grants to countries globally, all predicated on Chinese companies doing the work/providing the goods. I can't say what happened in the 1950s/1960s (though at the time, US steel-making equipment was probably as good as any in the world, given the US was then the leading steel-maker), but these days, companies would compete globally for the business, with export credit agency financing being part of the equation for the overall competitiveness of the bid. In other words, "protectionist" is, at least, reductionist in terms of what happens.
@brodriguez110002 жыл бұрын
@@cv990a4 In summery every country looks out for it's own interests. Maybe a lot of failures can be placed on not enough love being spread around.
@manofcultura2 жыл бұрын
You can’t just blame American loan terms in general. The China clique led by Clinton, who orchestrated favorable trade status and WTO membership for their CCP allies had every reason to disrupt every other non Chinese developing East Asian industrialization. China shares the majority of the blame as they enticed corrupt politicians in the US and philippines.
@SlimjimMK112 жыл бұрын
LOL.... It is the story of the Philippines mate.. How do you make a Filipino a millionaire?? Give him two million and wait a couple of months.. Corporations are merely ATMs for the elites..
@casioak16832 жыл бұрын
Those factors (corruption's the most notable), added with P.R.China's steel dumping practice.. ultimately led to its downfall.
@mylesgarcia46252 жыл бұрын
What a great, extremely professionally made documentary -- so different from the many other, amateur and less polished videos coming out of the Philippines. I always wondered about the background story of Iligan Steel Mills and the Jacintos. Of course, you gave a very polite and refined version of ISMI's arc under the Jacintos and transitioning into it becoming nationalized under the venal Ferdinand Marcos' regime. In all its years as its own republic, one really wonders how the RP, with sending a few hundred of its best educated sons and daughters to Ivy League schools and the best Business Admins schools in the West (Wharton, London School of Economics), how the RP is still a corrupt quagmire. I think the story of ISMI is the best example of that continuing malaise which now gets a new chapter under a Marcos II admin, with a failed and fake Wharton "graduate" as the new president. Good luck, Philippines. You can't seem to get a break.
@AkoyTamad2 жыл бұрын
The people can't get break as the people keep voting for people they like and not people they need.
@mylesgarcia46252 жыл бұрын
@Mr. Chairman Sadly, a lot of those 30 million votes are young ones, very impressionable 25 years and younger (who didn't even vote in 2016 when Leni beat BBM). So a lot of those naive Tik-Tok generation voters were born after 1990 and of course bought into the glossed-over, Cambridge Analytica-doctored bio of BBM and the tarnished Dross Age of his father's time! Am glad I got out of the Philippines 50 years ago. But sad to see such a blessed place led astray by new dazzling technology and no deeper sense of history. Hopefully, it won't repeat in the USA.
@josephcadiao57512 жыл бұрын
Ironically the best performing years of NSC was under the Marcos Administration and went downhill when preceded by the housewife who knows shit about managing the economy. 🤮
@mylesgarcia46252 жыл бұрын
@@josephcadiao5751 LOL!! And Marcos did? Yeah, he had economists working for him to FUNNEL 35% of all the country's earnings into his secret bank accounts. Yeah, Mrs. Aquino was too IGNORANT to know about those devious, Machiavellian practices. So, on that point, you're right. Moron!
@randomly_random_02 жыл бұрын
your 1987 Constitution's purpose was to stop a dictator and another Marcos from being elected again in national positions. Unfortunately, your constitution has failed you multiple times. It must be changed
@hugod20002 жыл бұрын
Thank you for your great quality content.
@danmenes31432 жыл бұрын
Minor correction: a blast furnace does not produce steel, it produces pig iron. To convert the iron into steel requires additional processing to remove the excess carbon, typically in a basic oxygen furnace.
@carlosrelano2 жыл бұрын
so Ramos sold the company. I believe he also sold other state-owned companies and privatized them. That's a big shame. Philippines could have been better if we did not sell Meralco, Petron and many other state-owned companies.
@ginochristiano13972 жыл бұрын
Yea, ideally the gov should have kept those crucial industries. But at the time , they say it was necessary due to a bankrupt government, neoliberalism, and an effort to root out crony capitalism.
@henli-rw5dw2 жыл бұрын
When the government is poorly run, how you expect it to run a corporation well enough to compete?
@giripog282 жыл бұрын
@@ginochristiano1397 Selling GOCCs is an easy way out for them but it the real effect is being felt for years now since the privatization.
@madensmith70142 жыл бұрын
Privitizing everything haphazardly caused a lot of problems. The UK did it to it's railways and shit happened. Some industries need to be state-owned or at least be subsidized by the government.
@madensmith70142 жыл бұрын
@@henli-rw5dw "The government is shit at handling things, private companies and the free market will fix all of our problems and is the only way to run the economy"
@padi1292 жыл бұрын
"NSC would have been a global giant" The Philippines would have been a global giant.
@pushslice2 жыл бұрын
*SIGH* Thanks, Ferdinand :-/ In the postwar years leading up to this crook taking over, RP was the shining & rising star of Asia.
@onemigreyes89502 жыл бұрын
@@pushslice I'm not sure if you were watching the video details... "After martial law of 1972-IISMI was integrated to the NSC completed until 1974.expanding it's capacity from 141K tons to five years later to 450K tons in 1979 thus laying down the NSC golden age. "By then it exited survival mode and became the country's 11th largest corporation". Now I'm not sure if the frown (or smile perhaps)after the Ferdinand means you treat him as the "crook" as per documentary "One view is that the Jacinto's treated the IISMI as an ATM "and mismanagement of privates who took over cause the decline of IISMI...Let's be objective and stick to the facts provided....SIGH...
@TheKb1172 жыл бұрын
@@pushslice but as I understood from the video, the heydays of steel mill happened durin Ferdinand Marcos' years. Due to global crisis, subsequent government failed to aid in resurrectingu it. Pls go watch it again. Unless, of course, you want to stay biased with unsubstantiated left-wing beliefs.
@pushslice2 жыл бұрын
@@TheKb117 i was replying to the original commenter's over-arching statement, which wasn't about NSC in particular. Study the RP's economy and industry over those 20 years, please, go ahead (I have)...and guess what? I'll even 'spot' you all the human rights stuff for a moment, just for arguments' sake. Just focus on *equitable* economic development arc of the RP during the period. FUCKING embarrassing.
@azuaraikrezeul16772 жыл бұрын
@@pushslice it was ramos that sold NSC. marcos reformed the NSC.
@henrikraymond52352 жыл бұрын
Nice content. To be clear, I don't expect catastrophic inflation anytime soon. But it doesn't hurt to bolster my finances ahead of uncertain economic times.
@binagital56652 жыл бұрын
His trade execution quality and profiting is well structured with great financial features.
@lindalily69242 жыл бұрын
Working with Romero pieto is the best thing that can happen to a beginner trader who is aspiring to be fruitful out of the market he is trustworthy and straightforward we surely need more men like him in trading world.
@jasonthomas2692 жыл бұрын
Good good content.
@abscottcoleman4002 жыл бұрын
Yes I'm a living testimony of Romero pieto his platform has also done a great thing for me.
@katlinmicheal81212 жыл бұрын
I've seen so many review about this man called Romero pieto who is he ?
@charpkun2 жыл бұрын
Wow. I honestly didnt expect there was enough published/public material out there to make a thorough research of any Filipino corporation. Much is usually cloaked in secrecy, especially since most nationalized/formerly national companies tend to be vehicles for slush funds of politicians.
@rolandrivera30042 жыл бұрын
Sa maraming obserbasyon sa mga kompanya sa pilipinas at sa mga ilang mga business ..kpag nagkaroon ng mga NGOs mass komplain at mga napasukan ng mga ilfitrator nang ilang unionista na maka leftist ay maaring hindi magtagal ang mga operasyon kpag hindi agad naresolba ang mga daing at mga hiningi na kung anu anupa ..dyan hindi tumatagal ang mga maayos na simula ..kaya wag maglagay ng mga union..at ibigay lang ang maayos na patakaran at suplay ng mga kailangan sa pagawaan at tama sweldo sa tamang oras at paydate..
@iketheoiskhurgan2 жыл бұрын
I live in Iligan for 17 years I am just a few to 7km away from it (i live in the eastern area, whereas NSC is at the west). My grandfather and mom used to work there. The NSC was so popular back in the day that workers from the said factory would drop off their uniforms to (let's say) Jollibee or any eating place which indicates payment will be made later on, if whatsoever the worker has no money. You would be considered lucky, and often talked about simply because you work at NSC. Those who are working at the factory but, have no place to reside, they would stay in a barangay (village) named Steeltown (if u know, you know). If I recall, the barangay costs is covered by NSC itself. During the pandemic, we (my family) were assigned to be there for a swab test, thus making my travel to the abandoned NSC a first time. It was like any other abandoned warehouse: rusty, still standing, some of the machinery left untouched, and some materials are not corroded or rusted. From country to country, the NS factory was used then abandoned again and again. The fact that the NSC was sold out to another somewhat degrades the pride and economy of the city. Along with the nickname of Iligan "The City of Waterfalls", (which the city was once called "The City of Industry"), it would've doubled the reputation of both the city and the country if NSC was still active today. Though I lack further knowledge of the NSC, this is all I can come up with. edit: changed from 10 to 7 since it would waayyyy too far haha
@alma098762 жыл бұрын
Thank Fidel Ramos for degrading the economy of Iligan.
@iketheoiskhurgan2 жыл бұрын
@@alma09876 yeah all this fckup-ery is the reason why (idk but) we won't change, but i might be wrong
@theotherohlourdespadua11312 жыл бұрын
The closure of NSC is what gives Iligan this feeling it has no idea where it goes from there. Wala na yatang ideya kung ano ba talaga siya. Given the rather uninspiring rules of various mayors (especially Regencia, I don't really understand his platform) didn't help much..
@iketheoiskhurgan2 жыл бұрын
@@theotherohlourdespadua1131 totoo yun po pre, especially yung uninspiring rules of various mayors. Hindi po ako open sa kalakaran namin pero i would know if something is wrong or rather, lacking.
@RenMagnum40572 жыл бұрын
I actually went to the place for a week during a Boy Scout Venture Camping Event. The place was full of Iron dust. Wherever you pick up dirt or sand there's usually Iron mixed in. Most of the equipment inside the rundowned buildings seemed very foreign due to its size and complexity.
@TypeVertigo2 жыл бұрын
As a Filipino I highly appreciate this video. It's so interesting that NSC was actually a somewhat successful example of a "government-owned- and controlled corporation" when the term has suffered a pretty bad rap and equated itself to corruption. It is indeed sad that the 1995 privatization basically sent it to its grave - and again, another trope inversion, this time that privatization can actually be a bad thing. Many thanks for this bit of history - there isn't enough of it being taught to my countrymen to be honest.
@arcsolomon63602 жыл бұрын
Privatization is not bad every country is doing....PLDT was once a dying government company until it was privatized. PAL is also the same
@regulate.artificer_g23.mdctlsk2 жыл бұрын
"Trope inversion"? No, that was the natural outcome. The reason you don't hear about this story/outcome often - unless you live in countries like USA - was because of laws preventing such things from happening, or at the very least, labor unions calling out the corporations to stop them from making a stupid move. It's only when stupid decisions were made - often capitalistic/neoliberal-centric - like F. Ramos and F. Marcos where things start going to shit.
@regulate.artificer_g23.mdctlsk2 жыл бұрын
@@arcsolomon6360 "Privatization is not bad" LMAO you should talk with the Brits about that, especially about the privatization of their water and their trains.
@magnusesophagus81952 жыл бұрын
@@arcsolomon6360 do you know the real history of PAL before and after Marcos regime?
@arcsolomon63602 жыл бұрын
@@magnusesophagus8195 dont talk about politics it was 1986 marcos who signed Presidential decree 2029 2030
@pauljoseph30812 жыл бұрын
After 1986, *PH* heavily favoured local business tycoons (mostly closed to people who overthrown the late Pres. Marcos), foreign investors are alienated by imposing such higher taxes and restrictions. The new Government thought that by helping out the local capitalists, they would thrive. They even sold their water and power companies to private businessmen causing a drastic spike in price. Now, they're suffering a crisis that pushed its locals to work overseas as *OFW's* instead of creating industries that would provide jobs to its people.
@juamu11322 жыл бұрын
I love people power.what a joke that is.
@jeffgumawid75542 жыл бұрын
Fidel Ramos' privatization drive is arguably the source of the problems in the Philippine economy today. High Utility prices, the loss of important state industries, companies and assets, and the grip of the oligarchy in all aspects of the economy.
@justsomehaatonpassingby44882 жыл бұрын
Yet you don't hear the media talking about it because they profited from it... Ramos is a traitor who sold the country to the oligarchs and foreigners, that's the painful truth
@jeffgumawid75542 жыл бұрын
@@justsomehaatonpassingby4488 True. And I think it is high time for the government to reclaim or restart some of these industries today.
@garywheeler70392 жыл бұрын
Oligarchies are a problem around the world.
@aranzamendez20152 жыл бұрын
Marcos made it profitable. Cory bankrupted it. Ramos sold it.
@Drew_TheRoadLessTraveled2 жыл бұрын
After years working with steel as a boilermaker this was an interesting insight into the base product production in the Asia/pacific region. Well presented.
@Basta112 жыл бұрын
Always wondered what happened. My mom’s family is from a town an hour out and we always landed in Iligan from Cebu by ship en route. What happened to Iligan is like what happened to Detroit or Manchester, industrial cities that decayed and became crime ridden.
@johnwalsh48572 жыл бұрын
what happened, stupid corrupt PH gov. local and Manila gov. and corrupt local managers is what happened. That is the story of the PH since the 70s, misrun
@exudeku2 жыл бұрын
Lmao I can see that. Detroit is an industrial powerhouse, now, you cant get shit in Detroit. I hope this Marcos' spawnling will prio implement and industrialize, unlike Digong's fetish of having a police and army empire. I have my hopes with the new Pres, even his dad is infamous internationally.
@aaronvacalares2 жыл бұрын
why the "crime ridden" part? Iligan is one of the safest cities in the country.
@norm73122 жыл бұрын
@@exudeku tbh I have low expectations for Marcos lol. He doesn't seem to actually care about the country but instead aims to wipe away the sins of Marcos Sr.
@exudeku2 жыл бұрын
@@norm7312 lmao a Vtuber simp is giving opinions... Yeah I also have low expectations too, pero lets cut the slack and see what 1 year in his administration would be. At least Leni is doing Samaritan works and not giving a shit about major politics now
@ryerye90192 жыл бұрын
The Singaporean management team was not really incompetent at their real job: looting a public asset. Like any private equity vulture they bought the company to strip it of any remaining value and pass it on to someone else who get to pick over the scraps. It's like going to a strip shop for minor repairs. Governments too incompetent to run a business are more incompetent to not to sell it off for less than what it is worth for corrupt kickbacks and then waste taxpayer funds on an even more expensive bailout. Privatization is a politician's scheme for looting public coffers. Don't fall for the religion that their private equity friends can do it better. They will never make that promise in writing.
@rock_ok2 жыл бұрын
well said
@MrNeilcatorce2 жыл бұрын
my father had worked as foreman in NSC (national steel corporation) before, and he retired early before it was bankrupt, he realized that NSC has been mismanage and many employee receiving salary while absent during working hours. gladly my father received separation fee and most of others aren't.
@rap32082 жыл бұрын
The Philippines lost all its industries, mining industry, steel industry, textile industry, tobacco industry, copra industry, agricultural industry, etc.. If they some still exist today, the semblance they have now are pathetic. The Philippines have become import heavy reliant, with little exports. The Philippines is now mostly service-oriented sector and exports of labor whis is very sad.
@nesvidal93362 жыл бұрын
We are actually outcompeted in our own homeland with the help of crooks in government making money for foreign interests ,as usual.
@yndiiatecow25362 жыл бұрын
lesson to be learn, do not trust americans and anglo saxon, their only intention is to colonized every asian country.
@첸새로운날2 жыл бұрын
I agree💯! Moreover, sadly more citizens also are having false hope on the so called Tallano gold that was promise by marcos which are being hype by many bloggers nowadays which are absurd! Leaders before election are promising a lot of impossible projects but yet failed to focus on job creation for the next generation. We can't just depend on forever searching better opportunity outside the country and leaving the family sacrificing the comfort of working in our own home soil.
@akosiwaray18372 жыл бұрын
@@첸새로운날 FEM did not promise about shit. Nor BBM. Those people who claim to be heirs and owners of whatever shit they want to have used FEM's name to SCAM people. BBM himself denied and beg people not to believe in those claims and false promises.
@첸새로운날2 жыл бұрын
@@akosiwaray1837 any reference on this?
@iamjayriii2 жыл бұрын
Im filipino and watching this is very sad
@crimsOn00112 жыл бұрын
The Philippines is such a disappointment. No leader with vision to move the country forward nor strength to change the bureaucratic culture.
@augustuslunasol10thapostle2 жыл бұрын
We would need a dictator that really does do things for the interest of the nation for that to happen and we both know thats doesn’t end well
@iandaniel17482 жыл бұрын
Thanks you sir. I hope it will open again for recycling scrap metal . Most metal after use sent to china and a there nation . Now this days it like a movie don't look up there more none scene problems. Now this days more people want to be happy able forget the problem and only few solve the problem in able to be happy . From Philippines again thanks you ❤️ Sir 😊 for sharing our history for the next generation to able to learn from past mistake.
@JoeCiliberto2 жыл бұрын
Great Job - A very good book, well written, easy to get through quickly is The POSCO Strategy by William T. Hogan S.J. The Posco story is a natural for Asionometry to pick up to the present day from where the book ends.
@a.c67612 жыл бұрын
Bruh President FVR 11:41 🤦♂️ There are goods and bad in the 90s theres a lot of improvement but HE GAVE IT AWAY
@CDeuce1522 жыл бұрын
I know a nephew of Ramos and he never liked his uncle.
@leclanche71272 жыл бұрын
Because he is an american boy
@deeperthantheabyss6242 жыл бұрын
@@CDeuce152 who would. To add insult to injury Miriam was cheated by Ramos during the elections think of our nation today if Miriam won and lead us.
@khust29932 жыл бұрын
Now, the industrial center of the Philippines is Calabarzon, the only region where manufacturing and industrial sector is the largest contributor to regional GDP. The rest of the country's regions rely more on service (i.e. BPO, tourism, hotel, etc.) sector. There is steelworks mill that is due to completion in 2023 at Batangas, hopefully that will be the start of steel industry's revitalization in the country.
@ianhomerpura89372 жыл бұрын
Where in Batangas?
@abrahamdsl2 жыл бұрын
Huh? Never heard of that
@lightrain12272 жыл бұрын
Chinese owned?
@michaeljunior14452 жыл бұрын
Philippines mining industry for iron ore is also a major source of income. Samar, Surigao, Dinagat. Hope we will have industries that will process this mineral.
@ianhomerpura89372 жыл бұрын
@@lightrain1227 Filipino.
@keenices19722 жыл бұрын
I have always wondered about that steel mill's history, since I grew up in that place. Passing by through the old abandoned mill, wondering what is beyond it's mossy walls. Now I know, and boy what a shame that is of how it fell from grace.
@blackpepperburger2 жыл бұрын
blame ramos
@celestinovelarde96012 жыл бұрын
@@blackpepperburger oh! It's time to Take it back all ! Make big ship for Fishfolks, ECT¡ Navy's big destroyers, army's big cannón and Main battle tanks and bolos
@jbertrow10562 жыл бұрын
im hoping marcos will respawn this nsc for the people of the Philippines..
@kulasisinigagongdigongnyo49252 жыл бұрын
@@blackpepperburger nahh it was marcos sr who coz the collapse of National Steel .He put in experienced people when ML was declared until it collapse when he was kick out .
@Abetz12342 жыл бұрын
@@blackpepperburger privatization did more good things than bad (ex. utilities and communication industry improved) i guess it was just mismanaged
@sulaak2 жыл бұрын
What we are all missing is that the Philippines is trying to industrialize under democracy government, Vietnam, S Korea, Singapore, Taiwan etc build their initial industrial capacity under a centralised government or dictatorship where state and national interests supersede people's interests.
@madensmith70142 жыл бұрын
Marcos era was a dictatorship and not so surprisingly the steel industry went stable. There was a lack of growth and complacency, but given all the debts taken in during those times for other projects and political instability, it's not surprising that it wasn't able to expand. Fuck the following admins that stopped supporting vital sectors for industry and national growth.
@happyface962 жыл бұрын
Philippines in general is just a dud. In more ways than one
@augustuslunasol10thapostle2 жыл бұрын
Yeah tbh industrialization only works with a strong centralized government
@thrangnguyen44342 жыл бұрын
@@augustuslunasol10thapostle Not really, Australia industrialization value added in $ is almost equal to Philippine nominal GDP.
@theotherohlourdespadua11312 жыл бұрын
@@augustuslunasol10thapostle If you want it fast. Other countries like the US, Britain and Germany have their steel industry sprang up decentralized and powered due to infrastructure demands. For example, Andrew Carnegie's steel mill group in Pittsburgh, Pa. got a big boost after the Civil War due to the construction of the US Transcontinental Railroad...
@Moneyandfood2 жыл бұрын
I was an account officer of Security Bank and I visited that plant! I was amazed how huge it was when the hot steel would roll out and get pounded
@padifam2 жыл бұрын
my dad is one of the disgruntled higher management because of what Ramos did! My Dad eventually was hired by SteelAsia, and he was one of the top dogs who established steelasia but now he is retired and enjoying his life here in the US with me
@jonasmarcili0 Жыл бұрын
It’s interesting how the story was different in Brazil and South Korea. For instance, In Brazil a large state owned steel mill (CSN) was privatized on the 90s, nowadays the company is extremely successful , generating jobs, paying taxes and being a key exporter.
@savioskyhague279311 ай бұрын
Because of the lack of monopoly.
@HaraldFinster2 жыл бұрын
Excellent and interesting presentation. Permit me to add one correction regarding the "classic" steel making process: step 1: sintering (as you correctly state) step 2: producing pig iron in a blast furnace (this requires coke as an additional component) nowadays pig iron is mostly transported to the next step in liquid form via torpedo cars step 3a: converting pig iron into steel in basic oxygen plant: oxygen is blown into or on top of the liquid pig iron and "burns off" the carbon contained in the pig iron step 3b: secondary metallurgy: adding more "ingredients" to get the required alloy, degassing etc. step 4: casting of the liquid steel: nowadays mostly continuous casting into slabs or billets step 5: hot rolling of slabs / billets into thick plates or coiled sheet metal or bars followed by optional steps like cold rolling, tin coating, pickling etc. I find it quite strange that the construction of the plant was initially motivated by the desire to use domestic iron ore. This never happened as the plant obviously used just an electric arc furnace to recycle scrap. The building can be identified on google earth and is located at the Western end of the plant. A fully integrated mill would have been a huge investment, though, as it would have required one or more blast furnaces, a basic oxygen plant and ideally a coke plant.
@thinkpositive36672 жыл бұрын
Reminds me of what General Douglas MacArthur told Dwight Eisenhower regarding Manuel L. Quezon (during American occupation, before WW2). "He’s always had one glaring weakness. He has too much faith in his own people." - And I think it's true. Filipinos are noble and prideful people. We love to think of ourselves as "great people with a great past but was just ruined by an incompetent government", but the real problem really lies with its people. In reality, Filipinos are not that great. We have a shameful religious and conservative culture, that's why we don't even have many people with scientific minds. And even if we have some scientific minds, those Filipinos usually migrate overseas because of lack of opportunities. Mainly because of our political system (Unitary-Presidential system, which is exactly a popularity contest like in beauty pageants) and the faulty 1987 constitution (especially its FDI restrictions). If you really want to fix this, first we really need to shift to a Federal-Parliamentary form of government, just like what the United Kingdom, Germany, Australia, Canada, Japan and other developed nations have).
@g7enn892 жыл бұрын
We do have a lot of scientific minded people, but they go abroad for a better opportunity. It has nothing to do with our culture or religion, we are just a poor and developing country that doesn't prioritize them.
@carlitoserion37662 жыл бұрын
I think the best form of government is the single party system of china. they only get the best and the brightest to join the ranks of the party. they can easily and quickly adjust and make amendments to their laws when urgent need arises because there is no opposition blocking the process. contrast that to multi party system where the opposing sides are always fighting against each other. unlike other big economies, billionaires in china cannot dictate nor capture the regulator.
@garywheeler70392 жыл бұрын
@@g7enn89 Intense religion and science people do not mix well. Science type tend to be open minded and question things. They need some acceptance of their social quirks. Nerds need some space to work shall we say. I hope that will happen some day in your country.
@johnryan86452 жыл бұрын
I love the idea of tracing fundamental industries and their history for different Asian countries. A fabulous report here. Thanks
@wilsonsia74062 жыл бұрын
Thank you for sharing this information. When I was young, my dad thought me about this company and how the Philippines is suffering in infrastructure since it can no longer make its own steel which should be a basic requirement for industrialization.
@manilamartin10012 жыл бұрын
Steel industry is extremely competitive worldwide. Most of the steel companies in the USA like Kaiser and US Steel are now defunct or on life support.
@Avidire2 жыл бұрын
My father used to work there, he mentions that NSC's downfall was because of politics from outside and inside.
@bertdejesus35782 жыл бұрын
These should be revived by the National Government. We still need steel for building our infrastructure. We should STOP exporting our minerals if they are NOT PROCESSED here in the Philippines. We should only export mineral if there is an ADDED VALUE on the said product
@jparsit2 жыл бұрын
You are good at picking up important pieces with no nonsense like millions of stupid contents on UTube. 99% Utube makers only focus at MONEY, not quality like your. Good work.
@jparsit2 жыл бұрын
As always, I find no disappointment of your analysis. Another great issue that benefit to the viewers. SE Asia is not yet ready for mega-projects. Too many problems: Poor quality human resource, corruption of politicians and biz CEO,s and people of all levels. They have big egos but small brain and ethical principles, especially the PH, Thailand, Cambodia, Malay, and Myanma,etc. Please do story of China failures after Jiang Zemin, not much information on the air. Is he a big crook?
@stellviahohenheim2 жыл бұрын
Google it yourself
@eljayalcantara36332 жыл бұрын
The ego and corruption make sense
@GwapitoChannel2 жыл бұрын
My father used to work here. My favorite moments here was every founding anniversary I think it was February. There were lots of activities for the children of the employees. Lots of free foods. I got to join a drawing contest which was my most favorite.
@EmilOsena2 жыл бұрын
I wonder if it's the same thing with what happened to our copper refineries here in the Philippines. I hear there's also environmental issues with it cause they used a chemical process to purify raw copper.
@kp53432 жыл бұрын
Negligible
@yndiiatecow25362 жыл бұрын
Canadians with their gov't help destroy and polluted the philippines copper industry, then left, without remorse of what they did. Payed a little bit to clean up pollution, but mot much compare to their profits.
@dgr8flav2 жыл бұрын
@@yndiiatecow2536 We, and employees, often forget that businesses are there to make profits.
@yndiiatecow25362 жыл бұрын
@@dgr8flav to make profits, but not to destroy environment, because it's not canadian soil, it's phillippines that will suffer and it's people not Canadian people, and their leader is calling everybody about environment protection what a hypocrite Canadians.
@morjvidz64162 жыл бұрын
@@yndiiatecow2536 bcoz of greed and corruption from our govrnment!
@revinhatol2 жыл бұрын
NSC is still one of the major players in the industry, it's just rising back up learning from its mistakes after all those shenanigans.
@TeddyCavachon2 жыл бұрын
This coming across my feed brought back the memory of creating NSC’s first web site for it shortly after the Internet reached the Philippines in 1994. I was working at the US Embassy running IT at the USIA Publishing Center and had gotten us connected to the Internet via Mozcom, the first ISP there. Mozcom didn’t have anyone on staff to create web pages and the Netscape graphic web browser had just been launched so I volunteered to create a Mozcom’s web site and wound up running the server as web master. National Steel was also a Mozcom client and seeing someone from it on-line one day I initiated a chat session over UNIX and asked if they would like a web site. It took some weeks for the IT guys to get approval and supply a few photos I could scan and it didn’t have much besides contact info but it got noticed and mentioned a short time later in an Asia Business Week article about businesses in Asia on the net. That generated a lot of buzz about the Internet in the Philippine business community and led to me doing demos for Mozcom and teaching a class at the USIS library in Makati in 1995 on how to create and run a web site which was attended by 80 people from the IT staffs of media outlets and government offices including the entire IT staff of the Philippine President. I also started and ran an index site for Philippine content on the web named “Soc.Culture.Filipino” after the usenet group that inspired it which by 1997 when search engines made it obsolete had about 700 sites linked.
@djskeedledoo2 жыл бұрын
Philippine Steel Corp will rise again. Mark my word.
@garywheeler70392 жыл бұрын
I am a US citizen, but I hope so too. Steel is important for development, infrastructure. No one country should have a monopoly on steel. It is recyclable, and useful for so many things. Especially light gauge stuff. Believe it or not, even the rust is recyclable.
@MarkWongUSA2 жыл бұрын
Really sad
@ares6792 жыл бұрын
I've been there weeks ago for a camping trip near iligan city, And seeing that mega facility my own eyes is pretty astonishing and also sad because of what happened to it. My friend's father used to work in there as a office communication personel , he told us his work expiriences in nsc and how it crashed.
@harukrentz4352 жыл бұрын
Full privatization eh? No wonder then. They should look at how Singapore and Indonesia "privatizied" their state companies, where the Gov still hold biggest shareholder.
@richdobbs65952 жыл бұрын
Seems like the wrong pattern to build up an integrated steel making company. If you can't get blast furnaces capitalized, you'd be better off staying nimble and just compete in specialty niches.
@johnpatricklim45092 жыл бұрын
the real reason is corruption itself....being a government corporation, this happens a lot...
@JC-bt3gv2 жыл бұрын
It's a surprise, as a resident of Iligan City, to see a youtube video about this rundown, seemingly rotten steel plant near the outskirts of city proper, Its great to see the history of this plant (even though im a resident I didnt know about it's history and how it closed) as a resident. It is sad to see what could've been a manufacturing giant getting closed down thanks to incompetent management, It's a good provider of jobs but i suppose it is what it is, random fact though, (maybe because of this closure) the city's title was changed from Industrial city of the South to The City of Majestic waterfalls. Anyways I love the video, informative and simple. Keep it up!
@theotherohlourdespadua11312 жыл бұрын
Seven waterfalls, still cannot provide cheap energy. ILPI is a city joke because of it...
@rjjr.10712 жыл бұрын
That happened because they ousted marcos.........
@opmacace5232 жыл бұрын
More like that happened because of Marcos
@rjjr.10712 жыл бұрын
@@opmacace523 more like that happened because Cory Aquino sold it.......
@mohabatkhanmalak11612 жыл бұрын
Its a shame to see a major upstream industry go down like that. What I can't understand is why the government did not impose import duties on steel imports, so as to save NSC and all those jobs. The initial planning was on que to build up a boats and shipbuilding plus other downstream industries. Something was not right there, maybe to do with family feuds?
@aspopulvera91302 жыл бұрын
That's probably the case considering family feud is on high gear among the politicians during martial law
@cede45872 жыл бұрын
@Kosorou Gaming Archives He sold it because of debts. They need to find money to fund other projects but they cannot take anymore loans.
@Ai-vq8rj Жыл бұрын
@Kosorou - Gaming Completionist it's bankrupt and losing money so do you still want to keep it? Even today the government is looking for MRT3 buyer because its losing money....just a simple arithmetic will tell you to let go of anything that is sinking
@TheSweetnessDoctor2 жыл бұрын
Iligan steel mill should be the site of the 2nd nuclear power plant if BBM decides to build a new nuclear power plant. The Philippines need to revive the National Steel Corporation because the Philippines need to build navy ships to counter China.
@dranrebcookie19232 жыл бұрын
When the initial purpose of the steel company is for the country to move to industrialisation. But it failed, so is the purpose.
@mikeylejan88492 жыл бұрын
Let this be a lesson to everyone, protectionism does not benefit any developing economy.
@LawatheMEid2 жыл бұрын
I noticed that most of recent huge companies had started a humble start, especially in 50s of the past century, and i heard that in midleast had the same soul to start, i heard that Aleppo in Syria was a promising industrial beginning for this area of the world: automobiles, televisions, radios,... (I am not pretty sure, they are strong rumers) . If that was true .. why it did not continued? I doubt that is because of Arab-Israeli conflict because every country has a conflict and more brutal than in midleast .. again if that was true .. why this movement stopped in midleast? Thanks.
@peterfireflylund2 жыл бұрын
The smart Arabs (who were mostly Christian) left or were chased out. And the dumbest/poorest ones suddenly had lots of surviving kids, so that part of the population exploded. The (smart, Christian) Arabs are doing very, very well in Latin America now. Probably not the explanation you would prefer to hear - and it’s not the whole explanation. Unfortunately, it’s not wrong.
@aravindpallippara15772 жыл бұрын
conflict isn't the norm - middle and southern India hadn't had a proper military action in atleast a century war isn't the norm it's the exception in the modern world
@LawatheMEid2 жыл бұрын
@@aravindpallippara1577 exception ! Or acception? Thanks.
@sshko1012 жыл бұрын
It could´ve been just soviet influence. Soviet union was always gifting all sorts of investments to any country which have shown any political alliance in order to achieve its political goals. Syria was especially important back then since the US started to support Israel and that was also the beginning of state anti-semitism in SU. That is basically the reason why russians destroyed Aleppo not so long ago, that´s also the reason why they were there to begin with.
@LawatheMEid2 жыл бұрын
@@sshko101 very convensing.
@austintylereverhard12142 жыл бұрын
All Philippine industries flourished during Marcos time, after that, upon the succession of Aquinos and the rest of the Liberal Party, the country was plundered, ending the glorious days of the Philippines.
@Ishikawa7452 жыл бұрын
Philippines has a lot of potential in building its own industry but the lack of management and the lack of government support is always the cause of down fall of corporations here thr Philippines.
@babymartin27622 жыл бұрын
mga ganid sa pera at kapangyarihan lahat ng sumunod ke PFEMSr eh
@samuelkane81462 жыл бұрын
Your steel processing is a bit incorrect. It's true that iron ore is pelletized and sintered prior to being sent to a blast furnace, but coke isn't added at this stage. Coke is added at the blast furnace stage with the pellets to reduce the iron ore into metallic pig iron, which is further refined in Basic oxygen furnaces to Steel.
@jerolvilladolid2 жыл бұрын
Im 33 years old and the word "NASCO" sounds very familiar. I recall now that when I was under 8 years old the word "NASCO" was always reported in Philippine evening news. During the 90s. Thats why it sounded so familiar to me even though I didnt know what NASCO meant
@alaindelon05132 жыл бұрын
Corazon Aquino's plan is to close Primary Industry in the Philippines.
@dariusacevedo63692 жыл бұрын
wow, got goosebumps listening to this, i didn't even know nsc existed, just think of how the philippines would have been if incompetence wasn't in play in handling the company, the philippines have the raw materials, but instead of processing it here we send it to other countries! they do the finishing & guess what we import the final product that should have been done here in the first place!? you do the math! just "genius" 🤦♂️
@erwinrowelboiser95632 жыл бұрын
My Aunt and uncle met and got married from this company we were also blessed by this company my mother could ask my aunt help financially during our Colleges years too. I really love ILIGAN City we've been there lasts 2016 & 2018, u love wearing the Levi's pants like and the polo White shirts and dark red colored Collard Tshirts.
@erwinrowelboiser95632 жыл бұрын
We love to go to TIMOGA FALLS. I DO REALLY MISS ILIGAN CITY IT'S A CITY IN SUBURBAN AREAS, THE CLIMATE IS COOL ESPECIALLY IF YOU GO UP TO ITS CITY HALL.
@ginogarcia87302 жыл бұрын
The Filipino First policy has been the bane of Philippine growth all these years. Yes, National Steel was sold off... but also these 60/40 provisions in the constitution and Filipino First mentality has made us stagnant many years later on. We must reform the constitution and remove numeric economic restrictions and leave them to be flexible in legislation. This move does not equate to selling off and making many companies privatized but at least we can try to be more friendly to FDI like our ASEAN neighbors. What I mean is that it does not help that we don't have great performing government owned companies and at the same time being closed off to foreign direct investments that could help us in areas like education or mass media (entertainment). The large, continuing problem is the Philippine bureaucracy, form of government, and government decision-making. Our system of government (our shitty Presidential System) does not allow for a meritocracy that encourages economists and scientists to lead the charge -> it chooses those with the highest popularity and deepest pockets instead. If we are going the route of a liberal democracy, a parliament would be so much better. And like with BARMM, each capable region should become autonomous. #CoRRECTTheConstitution #FedParlFDI
@Knightmare9192 жыл бұрын
The main biggest problem here a foreigner owns a Filipino company a foreigner who doesn't even care for Filipino workers.
@animejanai46572 жыл бұрын
Makes you wonder if there was kickback money to the politicians for allowing bidding by non steel-manufacturing Malaysian investors for those NSC assets. Sale should have been limited to certain qualified bidders.
@michaelcaballero74282 жыл бұрын
First time to hear a detailed narrative why we lost NSC. I used to buy truckloads of steel in the early 80's. Thank you!!
@ChrisKimDMD2 жыл бұрын
Philippine could have been much more prosperous, is it because of the the many islands nature of it? I could imagine the difficulty of industrialization when ocean separate you from everyone else.
@onemigreyes89502 жыл бұрын
Please rewatch the video details... "After martial law of 1972-IISMI was integrated to the NSC completed until 1974.expanding it's capacity from 141K tons to five years later to 450K tons in 1979 thus laying down the NSC golden age. "By then it exited survival mode and became the country's 11th largest corporation". The process of recovery was simply interrupted by privatization. There are simply industries not fit to be privatized in the first place due to concerns of "National Economic Security" as the concept of the "FOCI" clause points in foreign ownership so is the "importance to National economic security industries" also in private ownership.
@djinn6662 жыл бұрын
Shipping is the cheapest way to move goods, so no, the ocean is not the problem. What are problems are lack of port and rail infrastructure, and artificial barriers to importing raw materials or exporting finished goods.
@harukrentz4352 жыл бұрын
@@djinn666 you still need land transport to carry through to destination so in a way you are going to spend more money compare to land country where you can build road or railway from factory.
@djinn6662 жыл бұрын
@@harukrentz435 You need a few km of rail to get to the port, which is not that expensive. Or you can just build the factory next to the ocean. The capital investment is much smaller than if you had to build a few hundred km of rail, and then having to put it on a ship anyways since that's how most goods end up getting exported.
@theotherohlourdespadua11312 жыл бұрын
@@djinn666 I am still surprised that an archipelagic country like the Philippines doesn't have a strong maritime tradition or industry. And the ones we do have are either death traps or incomprehensible creature. Kung hindi sila marunong lumangoy, mas lalong hindi sila marunong gumamit ng bangka...
@arn_orej88782 жыл бұрын
I worked with nsc during its glorious years and seen management changes. I can only compare its fate to a country depending on its leaders.
@leopardtiger10222 жыл бұрын
A correction in the steel making process. Iron ore fines are sintered in sintrring machine using coke breeze as fuel. The sinter is charged to the blast furnace with coke and limestone from the top of the furnace, from the bottom of the blast furnace slag is tapped off. And hot meters al that is liquid iron is tapped from the tap hole. This liquid iron is converted to steel in an oxygen converter called LD or BOF converter to liquid steel. Liquid steel is converted to billers blooms slabs in a continuous casting machine. The cast bullets blooms slabs are reheated and rolled in rolling mills to produce reinforcing bars section and plates and sheets. Electric are furnace produces steel by melting steel scrap and refining and adjusting composition with addition of ferro alloys. It produces high quality steels it is not inferior to the blast furnace BOF steel. In fact very high quality steels for turbine shafts are produced in electric arc furnace.
@joseondona55342 жыл бұрын
Dakong salot gyud to ng mga Aquino, Ramos, wa Gabai ay! Gigabaan diay pero ulahi na apan may panahon pa sa pagbangon
@teddyray32112 жыл бұрын
I worked in a steel smelting company using scrap metals. The work is hazardous. The exposure of its workers from the work related hazards are tremendous. That is why the industry offered higher remuneration compared to the other industries. We documented the health hazards such as people who worked for an average of 20 years in the plant only last a year or two after their retirement. Steel industry should be located far from communities. It should be isolated. And a percentage of its earning should be set aside for health and hazards mitigations. This video is right with its conclusion. The cheap importations from China is the culprit that makes the sudden demise of the industry. Its the government who killed it in the first place. Now, why would China want a steel industry to prosper in the Philippines as a competitor? The present Philippine government administration will not revive a steel industry, not without the consent of Chinese patronage.
@alma098762 жыл бұрын
All the steel plants in Japan are located with communities living nearby.
@teddyray32112 жыл бұрын
@@alma09876 The smoke from the steel processing even if a filter is installed, it becomes more hazardous because, even if the naked eyes can't see the hazardous vapors emanating from steel processing causes cancer. When it rains, the contaminants stored in the roofs of the houses nearby would eventually go down to the sewer and to the ground.
@alma098762 жыл бұрын
@@teddyray3211 then tell your "contaminant theory" to the Japanese people who live for more than 100 years old.
@teddyray32112 жыл бұрын
@@alma09876 It is not a theory it is a fact. The century years old Japanese you are talking of is an exception but not the rule.
@sanwomashi17512 жыл бұрын
@@alma09876 Also in Europe - next big cites
@kryts272 жыл бұрын
It's a bit depressing, the incompetant hand of governments and of bad business management by foreign owners. Manufacturing is as much about skills and good management, and to loose all that is near irrecoverable. Again a turgid story of winners and loosers, businesses and countries economically failing as much as succeeding at high cost to standard of living, wealth and education. This commentator, intelligent and well researched as his topics are, is inclined to report as much on the failures as the sucesses.
@mannymany44232 жыл бұрын
It was designed to fall so that foreign players could thrive in the Philippines.
@Zerpentsa65982 жыл бұрын
Unlike the highly successful Corus Steel company owned by Tata in the UK. It is a shining example of how an industry should be run!
@yongchen82042 жыл бұрын
you look around china, taiwan, south korea and japanese steel industries. they are all subsidized by their government with plenty of cheap energy and lands as well as generous tax incentive. the philippines steels and other manufacturing companies are swimming on their own even in their own turf.
@joshuajanjumawid42242 жыл бұрын
Rarely does a KZbin video speak about something very personal to me. Born and raised in “Steeltown”! Great job with this video!
@johnwalsh48572 жыл бұрын
the main cause, PH gov. local and Filipino management team corruption , local laws hostile to foreign investment. Could have been but the Filipino gov. politics and incompetent corrrupt local management fucked up things as usual for the PH.
@madensmith70142 жыл бұрын
Surprisingly the downfall of the NSC was foreign investors and foreign imports outperforming the locals. The support from the government was lost and things fell apart, for motivations we can only speculate on for now. Yeah sure, you can say corruption and incompetence, but that concept is very vague and doesn't point out to any areas that needs fixing, what actions we need to take to not repeat those mistakes.
@darrellng76172 жыл бұрын
@@madensmith7014 foreign or domestic, private or state, if the management shit it's going south.. Jacinto fuqd up, succeeding governments fuqd up.
@Aqualastic2 жыл бұрын
What I think the biggest drawback for us Filipinos at succeeding in business or enterprise is lack of TENACITY - the determination to succeed. I’ve been around long enough in many countries and interact with all kinds of people that I found this lacking in average Filipino, including myself. We are easily swayed by circumstances and easily give up the fight. And this is the reason why we don’t see popular Filipino brands around the world despite the 110 million Filipinos vs 52 million South Koreans.
@mylesgarcia46252 жыл бұрын
Well, the RP has more international beauty queen winners than South Korea or even the USA!!
@syndren43772 жыл бұрын
@@mylesgarcia4625 lol beauty queens
@cchannelmez63552 жыл бұрын
We have Pacquiao, Leah Salonga.. and APL de AP.
@azuaraikrezeul1677 Жыл бұрын
@@cchannelmez6355 oh wow now our country can be a first world nation thanks to these people.
@otherwisemaladroit2 жыл бұрын
Mismanagement and apathy the bane of the Philippines.
@nvs4u22 жыл бұрын
Every failure, just like every success, has a story to tell. You told this one well. Very informative and in depth. I spent a lot of time throughout Asia during the 80’s and 1990’s and the steel industry along the waterfronts in each country was impressive at the time.
@Hectico22572 жыл бұрын
*French kiss* 👌 Gotta love these case studies on these national champions are by far some of my favorites.
@Alexander-ur1tr2 жыл бұрын
and you know who are at fault its not the marcoses.
@smokeydops2 жыл бұрын
I'd be interested in a video covering NIMH batteries. Very specifically to cover the patent war that oil companies waged against Toyota when the all-electric RAV4 debuted in the late 90s.
@marioperalta26672 жыл бұрын
If it still sits there, then we can still do something about it. Hope Iligan City people someday would prosper again with such a promising Company, and its share to the Phillippines economy rise.
@rosros5572 жыл бұрын
"well ran government corporation" doesn't exist in the PH, that's why we have to privatize a lot of there corporation
@onemigreyes89502 жыл бұрын
The Pag-ibig and the Philippine National Oil Company government-owned and controlled corporations (GOCC) appears to be fine...Aren't they?
@iamjayriii2 жыл бұрын
Dahil yan sa isinabatas ni corykong
@rosros5572 жыл бұрын
@@iamjayriii Wala ngang matinong government corporation. Gusto mo pa gobyerno mag patakbo
@akosiwaray18372 жыл бұрын
There used to be, until the economic hitmen came.
@rosros5572 жыл бұрын
@@onemigreyes8950 Lending corporation in which the capital came from mandatory contribution. I don't think PNOC is a success