Why the Philippines is Asia's Loser

Produced by: Behind Asia Team
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Brought to you by the Behind Asian Team.

[@globalismoblackman]

I call them the Oligarchs of Philippines.Its like The SK chaebols Elite Clans. A few powerful chinoy families have The Philippines 🇵🇭 economy on their tight grip.

[@ViviSaggio]

Sk chaebols?!?! but garbage services and mediocre quality 💀

[@peterpandler]

​@@ViviSaggio worst in the whole of Asia combined

[@globalismoblackman]

@@ViviSaggio Environmental services is the responsibility of local government municipality not private corporations. Although private corporations can work and support governments on environmental pollution policies. However it is the responsibility of the government.

[@SlimjimMK11]

@@globalismoblackman Somehow WE JUST NEED TO FIND A RESPONSIBLE GOVERNMENT SOMEWHERE.. Any suggestions??..

[@silverianjannvs5315]

​@@ViviSaggioyep, South Korean made home appliances sucks. Chinese's Haier, Midea & Hisense is much better and durable.

[@dadafab-ct8sf]

Duterte heavily regualted this oligarchs but now they are back on business lol

[@EugeneRizCrispo]

Huh? He is making his own oligarchs and some fails big time

[@KairoKapix]

​@@EugeneRizCrispo pano mo nasabe?

[@bugdev7384]

@@KairoKapix sabi daw ng mama nya pre

[@StealthG8]

@@KairoKapix Just the likes of Dennis Uy for Telcom

[@alma09876]

Duterte did nothing on paper! All he did was CURSING which was NOT legal and NOT put into law!

[@flaviomulatojerkin]

The Philippines needs more FDI coming in and creating a platform of competition to Filipino companies, only then it will be possible for those companies to grow and be more innovative creating new products and services for their customers, until then corruption will reign

[@jasperjamestecson5040]

It is impossible that more FDI if they are limited in business sector of FDI.. better if the acts or law are ratify to changed the constitution that less restriction to the investor like fully control on the company if the investor want to build the company in the philippines.

[@miaya3898]

​@@jasperjamestecson5040You people are really clueless and delusional, aren't you? The 1987 Constitution is not the cause of lack of fdi, it's the country's reputation. No one wanted to invest in PH 🇵🇭 long before EDSA happened 😂

[@cresenteayo3638]

Absolutely correct. No business ventures, or activity is corrupt-free when the bureaucracy had too much paper requirements and clearances on investors. The ease-of-doing business is strong factor for robust economy.

[@flaviomulatojerkin]

@@cresenteayo3638 that’s true, how can we expect the Philippines to be corruption-free when they don’t let foreign companies coming in? Something needs to change and the consecutive tries of changing to a federal system will only increase the amount of corruption

[@juamu1132]

there is no filipino companies.

[@gilnebres3119]

I reckon it's the same anywhere you go. If you check on the internet, Australia has one of the better speed of internet in the region, but in reality, the internet here is very slow. If you're watching KZbin, you have to wait for a while. Unless, not many people are using. Have you experienced this?

[@rl8571]

To be fair, these corporations do over hire and over staff at the low wage level which helps lower unemployment. Philippines unemployment is One of the lowest in the world.

[@urbanjungle9600]

don’t be naive! Do you honestly think they wouldn’t slash employee numbers if there wasn’t a cheaper viable option like automation, AI, Machine Learning, Computer vision or robotic servicing. Whilst that remains a higher cost to introduce in PH than human labour jobs will remain (but forever low paid). The moment the equilibrium shifts you will truly see how they are all about profit and not for the people.

[@Liboch]

That's why millions of Filipinos become migrant workers in other countries. Maids, construction workers, sailors, nurses, bartenders, you name it.

[@miaya3898]

​@@LibochThat's because they don't have the brains 🧠 to take up stem courses that matter. Only pang katulong courses for Pinoys 🇵🇭 😂

[@miaya3898]

​@@urbanjungle9600why the hell would they not be for profit? Who's the naive one?

[@alenciaedely301]

I'm a Filipino and they over hire and have low wages that's barely a 100$ even for college graduates​@@urbanjungle9600

[@marklawrencedasig3650]

The Philippines must open the economy to FDI by amending the economic restriction in the constitution to create competition in the market.

[@miaya3898]

Keep dreaming. It's PH's reputation that drives investors away.

[@idanirrd3838]

@@miaya3898 Poor infrastructure, high power costs, slow broadband connections, regulatory inconsistencies, a cumbersome bureaucracy, and corruption

[@miaya3898]

@@idanirrd3838 that didn't stop Hanjin, FedEx, Okada from investing. Fun fact: Okada wanted Wynn of Las Vegas to be an investor but the latter didn't want anything to do with PH 🇵🇭 😆

[@anukfernando2258]

I'll be real the Philippines aren't Asia's Loser or whatever that title goes to Sri Lanka - source: Sri Lankan

[@migspeculates]

let's compete for that title. race to the bottom 😂😂

[@eddie9201]

Meralco, PLDT, Globe, Smart - these are the ones who are making the PH backward or last when it comes to technology.

[@cresenteayo3638]

@@eddie9201 absolutely correct. In the case of MERALCO, it opposes the opening of BNPP from the start. It would go bankrupt if opened.

[@janetmalcolm3403]

The strong US dollar has dragged many working class citizens down to the poverty line. The Philippine peso is the most undervalued currency. 😢

[@ger13nunyah56]

It’s sad but true , Rich people run for office and doing personal business on the same time so no improvement

[@laurencechua922]

0:10 0:19 That's just the nature of the PRESIDENTIAL SYSTEM! 0:45 High Prices? Duopoly? That's just because of the 60/40 FDI Restriction in our Constitution!

[@benjaminbio5834]

You know, nong papasok na ang air china na sinakyan namin, I was amazed, napakaraming ciudad na multo(ghost). Maraming complex highways pero kaunti ang sasakyan. Maalikabok ang mga lansangan, hotel service poor. Maybe Shanghai is Ok!

[@cresenteayo3638]

Absolutely true. Country as large as China can fit New York City a thousand times with desserts can fill metro manila ten thousand times. If it's decade ago one may wonder that why China opted to build cities and housing units in far-away places and arid regions. This is because the government had place strategic thinking in planning and urban development so that housing needs are never an issue for China as the migration from countryside surge upwards to urban areas. Unlike the US, EU or Japan, housing in highly ubanized cities are left to the initiatives of private endeavor who charge exorbitant mortgage fees. In these countries, socialized-housing is next to none unlike in China.

[@LarryfromPH]

Think about the Sys. Their father is just a simple person and now look at their empire! If you think about it, the Filipinos made them rich! Like most of the Filipinos contributed to their vast richness. Only the government can help which is to regulate prices extensively specially real estate and the basic needs of Filipinos and taxing these rich people and converting them to good infrastructures and basic services.

[@petebngyn]

Actually the Sy family got rich because of the land they own, they bought them at a low price and developed the area so the land value goes up. They're also not extravagant in spending for themselves and invest the money they save to make it grow.

[@urbanjungle9600]

As with any of the big oligarchs families, the filipinos made them rich because any competition to offer something resembling choice was stifled from the outset. The system is set up that way to kill any aspirations of foreign investment or local entrepreneurialism. If you take Amazon as a model, it’s hugely successful in many economies globally (too competitive some would argue). Given the penchant (addiction) for shopping in the Philippines, as witnessed by the cookie cutter malls everywhere, why hasn’t Amazon penetrated the Philippines market? it’s not because they are too expensive. It is because it’s a massive threat to the families so heavily invested in retail malls. Screw giving Filipinos choice, competitive prices and the ability to become entrepreneurs ….. it’s all about keeping the powerful families well fed

[@petebngyn]

@urbanjungle9600 we have shopee and lazada. But most if not all of the items being sold are from China. It's because Amazon is very expensive compared to Shopee and Lazada. My friend bought an item in Amazon for 1k plus pesos and I saw the same item for just 400 pesos in Shopee and Lazada. Plus Amazon has to ship from the US. Now there are items with free shipping if it's less than $200 and you order more then $49 worth. Actually I have many friends who order from Amazon if it has free shipping.

[@vonn8973]

But we are not a communist country .

[@miaya3898]

​@@urbanjungle9600Pinoys 🇵🇭 are too dvmb, anyway

[@JosephSolisAlcaydeAlberici]

The only thing to keep Filipino big-time corporations in check is to amend the economic provisions of the 1987 Constitution allowing 100% foreign equity ownership of domestic corporations and private lands so that these foreign investors will not become captives to these Filipino big-time corporations.

[@jasperjamestecson5040]

Hoping ammend or ractify to changed the constitution to less restriction to all sector in business and speaking in the ownership or private lands they do not allow the foreign investor buy a land or became owner lands that are to plan built a company to the philippines instead create a contract in 5 yrs and up to the legit owner of the land and to comission of the government 10% in tax because the government create a contraxt between owner of the land and in the investor

[@miaya3898]

Keep dreaming. No one wants to invest in PH 🇵🇭 because of its reputation. Your dvmb kids will still need to be waiters and maids in Saudi 🇸🇦 😂

[@princeainsleyguevarra9649]

It's true they should pay more taxes should be ten percent if I am president I will make that law to help our poorest Filipinos the land should be much cheaper for our citizens I will get all the utilities company should own by our citizens

[@miaya3898]

Dvmb people like you shouldn't be prez 😂

[@ahnonymuz9921]

of course look at those condo minimium 24 sqm minimun price 3.5M no ordinary people cant afford that

[@miaya3898]

The gullible ofws are the ones gobbling them up.

[@SlimjimMK11]

If the OFWs stop being lied to about condos and stop buying them then the prices will collapse.. They are only vertical slums..

[@faithdino4428]

True we bought 28 square meter one broom condo cost us 4m .. very small . To much profit ng cityland. It’s good the place is in pioneer Mandaluyong. Near to our favorite places to go around.

[@melvinstarita638]

Open the economy further and allow competition to rule. Economic chacha is key.Of course this needs constant tuning by our technocrats year in and year out. Creative economy is the future and only an open economy can flourish in it.

[@miaya3898]

Creativity and Pinoys 🇵🇭 don't belong in the same sentence

[@melvinstarita638]

@@miaya3898 🤒

[@lextan7844]

The Philippines strive because of the remittance of OFW. The speed of internet becomes slower today. I experience during PRRD focusing on speed internet it is much faster. Monopoly yes...

[@miaya3898]

What are you blabbing about? Internet is much faster now

[@narutos138]

Mas marami oligarch na fil chi

[@silentwatcher1455]

Blame the govt. for oligarchs. Philippine govt refused foreign investment.

[@rafaelmolina123]

It's true. There no such thing as convenience here and if there is, prepare for a "convenience fee". As a Filipino that was living in Richmond VA before, I can say it is pure caveman here now that we're back

[@arcticseven3485]

Kasi ang gobyerno kontrolado ng mga negosyante. Walang sariling source income at nagrerely lang sa lagay.

[@ramongabutina8015]

Have these inefficiencies cited in water & energy particularly electric industries affected the healthy Phil GDP growth considered best in Asia in recent yrs inspite of negative world economic climate? China-owned DITO might be a security concern.For lack of resources,the Phil govt had turned to these billionnaires to invest in areas cited. This article failed to discuss situationers of all all other sectors now mainly owned by Chinese Filipino Taipans.

[@aliveBM]

Yeah, drop the IQ score further to 50% please. 81% is just too generous

[@godministry75]

I support DITO TEL to break the duopoly ❤.

[@_michiko_]

AND IN TURN…CONDUCT ESPIONAGE IN THE PHILIPPINES…EXACTLY WHAT THEY ARE SOUNG NOW!!!

[@miaya3898]

Where were you braindead people when Sun Cellular needed support? 🙄

[@jasperarranguez1350]

correct, we are loser because of the oligarchs and corrupt politicians and govt employees

[@arfeloreed]

On top of that, the richest people in the Philippines have Chinese ancestry. Kaya tayu kinakawawa ng China, sa sarili nating bayan mas mayaman pa mga intsik satin.

[@carlotristandumelod2223]

Combined with the most corrupt politicians and weak leaders the result is the poorest backward country in asia along with drugs😅😅😅

[@ericksummerose1544]

Okay I thought you are going to talk about the general reason why the Philippines is Asia's loser. But no you went into specific companies. You should change the title as it is misleading. Good content nonetheless 👏

[@brokengamer7737]

Dutertes term ended and Filipinos no longer know what oligarchs mean. Short term memory lol

[@matt0993]

The country’s economy though wealthy works only for the ELITES, and the POLITICIANS in the islands. The MASSES were left out for ages. The sad reality of being a Pinoy these days. The masses these times has only 2 options to chose from: find a fair paying-life sustaining-blood and sweat bearing employment overseas or, live in ignorance & poverty and shrink in despair in the islands.

[@miaya3898]

Fact the masses

[@icetea1455]

Sad truth also the high standards employement and low pay😢

[@JaxToz]

I guess you want everything for free, as if

[@monsourtecson4582]

Paid clip of the oligarchs who oppose the legislations that hurts their interests.

[@morrisignacio9351]

You are zeroing on Philippines but you say all over the world. You are paid advertiser by pro-china.

[@jay-rmirbal7526]

mabuti na lang hindi ako mayaman.

[@josepanicucci8591]

PH is heaven on earth for rich Filipinos only & not for foreigners to invest & settle foreigners in PH can't own properties full business ownership have very limited rights & many are deported foreigners can be naturalized PH citizens if born & raised in PH like the prominent Spanish Ayala family which is not the case of newcomers

[@rmondave]

FDI is probably the most important missing element of PH economic development through proper allocation of capital, technology transfer, entrepreneurial opportunities, skills development, etc. FDI has been given lip service but little else. The Oligarchs do not want and will not permit foreign competition. The Marcos 1966 to 1986 years started a regression and suppression of FD Iinvestment in the Philippines. There should be little argument, just compare how and why Singapore, South Korea, and even Malaysia have left PH in the starting blocks WRT per capital GDP, productivity, FDI, etc, in the 59 years since 1965 when the PH actually had a higher per capita GDP than all of the above SEA nations, named above ! Shame on the propagandizing pols and media somehow praising and even deifying those years of failure with slogans like "Filipinos First" and lauding that "Under Marcos we had a surplus of RICE :) ra ra ra :)" Oligarchs in PH as in many 3rd world countries have held back the rest of their populations to keep their top of the heap positions. Also, look at how many high achievers/professionals/technicians/doctors and other professionals leave their families and go abroad for multiyear employment some leave permanently and only come back to PH for retirement. Thanks to the fine leadership, the PH really has few prayers or prospects of catching up from nearly 60 years of very bad/selfish/shortsighted/greedy policy decisions. Ironically, the handful of oligarhs' fortunes would have grown faster if the overall economy had kept up with the countries mentioned above. Something about preferring to being a small fish in a small pond, to heck with the lower classes, let them eat cake, ring a bell?

[@hanglee5586]

@@rmondavenot happening any time soon.

[@LarryfromPH]

Please stop questioning PH's law on foreigners owning properties/lands. If not for this law, Filipinos might have nowhere to be found and PH would had been similar to Canada where real estate prices have skyrocketed because of foreigners buying up properties and pushing them to the roof. The Chinese are already doing illegal means to own PH properties. Even because of tourism, beach lot prices had gone up. There are other means for foreigners to invest on and if not being able to buy lands/properties is a hindrance for them, then they might be thinking of something else not just to do business in PH.

[@effu9375]

​@@LarryfromPHSIMILAR TO HAWAII.....FOREIGNERS BETTER NOT HAWAII THE PHILIPPINES.

[@JosephSolisAlcaydeAlberici]

@@LarryfromPH The restrictive foreign corporate and land ownership laws are the culprits why we have the Alice Guo mess because if you are a foreigner (mainly a Chinese national) determined to invest in our country by buying properties because you couldn't return to mainland China, you have to marry a Filipino citizen and have him/her's name be put in the certificate of land title on your behalf, so removing those restrictions through a constitutional amendment will fundamentally address concerns of illicit circumvention of our restrictive FDI laws and will give a compelling message to the international community that the Philippines is open to foreign investors without strings attached in the constitution.

[@gilberttello08]

👌👌

[@allenjames6743]

Now blame the Duterte and BBM administrations.

[@ErrorSolutions]

Why blame the Government? If we the voter keep on voting shit politician.

[@ErrorSolutions]

DITO is a Pump and Dump

[@hanglee5586]

Lmao 🤣

[@calrosan3063]

All running politicians are shitty. Who will u vote?

[@layf09]

Dito telecom was a joke too slow

[@miaya3898]

It's actually very fast where I'm at but not very economical so I'm still using Globe. I'm loyal to Spanish oligarchs anyway. 😀 I tried having Globe Fiber installed but it turns out they're not available in my block. I'll apply to Converge next. Better them than PLDT 😂

[@ErnelNhhel-zc6es]

Remember philipines is the home of Oligarch. Bussinesmen.. Home of Lacoste Politician do not be surprice. In the philipine economy..

[@CollosalTrollge]

Something is wrong - Importers or retailers , its impossible that deodorant for men , a 150 ml aerosol can , costs 291 pesos If i can just speculate, there is way too much monopoly in what is being imported or sold and where u can get the items from. Something is just wrong.

[@miaya3898]

Your fault for not supporting Michael's and I think bossini (Or wasn't that clothing? ) personal care products back in the 90s 😂

[@laurencechua922]

This KZbin Channel is just IGNORANT of how SYSTEMS INFLUENCE BEHAVIOR. 👎👎👎 They put the blame on everything BUT THE SYSTEM THAT CAUSES THOSE OUTCOMES!

[@emmanoconer1750]

Pati job's ang hirap makahanap dahil sa monopoly na yan

[@miaya3898]

Bubu ka lang kasi kaya hirap kang makakuha 😂

[@river8142]

2:24 Pangilinan = pronounced Pahng-ee-lee-nan (sorry to be that guy, but it physically hurt hearing that pronunciation 😅 )

[@nikitarome6208]

In the Bible, rich people have no place in heaven..

[@uncommon_name9337]

How ignorant. The Good Samaritan had money by the way.

[@charlesjosephdiputado804]

Not unless you believe it in a wrong way and interpret it in a right manner. POVERTY will entirely consume your life if you interpret it in a wrong perspective...

[@lextan7844]

I think you read it wrong. God wants us to prosper. If the logic is poor people will go to heaven i do not believe it. Poor people tend to steal, do wrong if somebody tell them to feed their stomach. Why not become rich and help poor people.

[@miaya3898]

Rich people who don't help others like that guy who didn't give help to Lazarus. Job became prosperous later in life.

[@ger13nunyah56]

Bible 😂

[@veronicavisaya-sb6ce]

This tittle is a total lie.

[@hypocritehater1673]

When the word Philipines comes to your mind,what do you have in mind?🤭

[@frankfernandez8215]

Because the politicians is corrupt

[@siewkonsum7291]

Many local & foreign investors are leaving the Philippines. Main reason is the current Phillipines top leadership is leaning towards an hostile imperialistic US to pit against China. In this case, pragmatic local & foreign investors see no future to invest in the Phillipines when it irks China being the upcoming largest global economy by next few years, in which they have a great stake in it.

[@RakutenZero]

Wumao cope. We don't have hundreds of Ghost Cities, you insects do, we don't have hundreds of millions of Delivery Drivers, you do 😂😂😂😂😂😂😂