miniZibaldone

This summary is not available. Please click here to view the post.

Nikkei Asian Review ,   "Election risks reigniting Philippines inflation: Failure to fix economic bottlenecks leaves country vulnerable to price pressure" What might Milton Friedman make of the Philippines today? The Nobel economist popularized the theory that inflation is "always and everywhere a monetary phenomenon." Since the 1960s, his argument that demand for money controlled all prices won converts from London to Tokyo. Look no further than the Bank of Japan's deflation battle and you see the American's outsized influence 12 years after his death. But events in Manila show that even the great man was not always right. Last month, President Rodrigo Duterte's team demanded that the Manila central bank explain why the nation suffers the highest inflation in Southeast Asia. Though price pressures cooled in late 2018, the 5.2% annualized rate far exceeded the 2.9% gain in 2017. The response from the Bangko Sentral ng Pilipinas was to say to Dutert...

Philippine Daily Inquirer ,   "Learn from last year " Many experts agree: After suffering one of the most challenging years in recent memory, the Philippine economy is poised for a comeback this year. And this early into 2019, there are already several encouraging signs that give credence to this belief. For one, the local currency, a key barometer of foreign and local investors’ confidence in the local economy, has appreciated significantly since it hit multiyear lows last year. The equity market has also been on an upward trajectory in recent weeks, with the Philippine Stock Exchange Index no longer flirting with bear market levels as loss-weary investors had grown accustomed to just a few months ago, but with bull market territory that indicates the return of confidence in the country’s economic prospects. Then there is that issue of inflation — the main killer of confidence last year, which forced many consumers and business conglomerates to tighten their purse stri...

Nikkei Asian Review ,   "Apple held hostage by its Chinese puzzle ": How iPhone maker's success manufactured the rise of Huawei TAIPEI/ HONG KONG -- Soon after Tim Cook was hired by Apple's founder Steve Jobs in 1998 to whip the company's U.S.-focused supply chain into shape, he made a bold decision. Within two years he began shutting Apple's U.S. factories and outsourcing production to China. His decision drove down costs and gave Apple the resources it needed to develop its next blockbuster products, the iPod and iPhone. It also created a competitive manufacturing base, capable of mobilizing hundreds of thousands of workers with just a phone call. But eight years after Cook became CEO, this strategy is being called into question. Not only has it left Apple dangerously exposed in the escalating trade war between Washington and Beijing, but the highly complex supply chain that Apple built in China over 20 years has given rise to one of its fiercest compe...

Nikkei Asian Review ,   " Asia shares blame for its export slump " A moment of reckoning for Asia's exporters is a time for somber reflection and for bold action. Since Jan. 1, the region's advanced economies reported export drops thanks to U.S. President Donald Trump's trade war. First came news that December overseas shipments by South Korea fell 1.2% from a year earlier. Then it was Taiwan down 3%, Singapore down 8.5%, and now the biggest collateral-damage victim -- Japan down 3.8%. To no surprise, China also had a rough December. Exports slid 4.4%, the steepest decline in more than two years. Asia's biggest economy is, of course, the main target of Trump's protectionist jihad. But as China's neighbors sustain blows, they must accept some of the blame for their difficulties -- and make urgent adjustments.   [link] Vatican Insider,  " Pope Francis’ 'Montini-inspired realism'" The "criterion" of Christian...

Philippine Daily Inquirer's   "Unfair Protection " Local cement manufacturers appear to have succeeded in presenting a convincing storyline to the Department of Trade and Industry about the alleged destructive impact of imports on their profitability. Last week, the DTI announced the imposition of a provisional safeguard duty on imported cement starting next month, claiming it needed to protect local manufacturers who were at a disadvantage because of cheap imports. “With the elements of surge and injury clearly established, DTI is mandated to impose a safeguard duty. DTI is thus imposing a provisional safeguard duty of P8.40 per [200-kilo] bag, equivalent to about 4 percent,” Trade Secretary Ramon M. Lopez told reporters covering him. That’s an additional tax of 4 percent on imported cement.   [link] Mindanao Daily  "Will Moreno join the ‘Roa family’ reunion? " President Rodrigo Roa Duterte is expected to attend the annual “Roa Family Reunio...

Philippine Star  "A foothold for ISIS?" Relatives and friends mourned the soldiers who died from gunfire and improvised explosive devices set off by the Abu Sayyaf in clashes that started Saturday morning  in Basilan. The Armed Forces of the Philippines yesterday reported killing 13 more bandits, but the AFP’s own death toll of 18 is among the highest ever in its  decades-old battle with the terrorist group.  Among the enemy casualties was Ubalda Hapilon, identified as a son of top terrorist Isnilon Hapilon, who has a $5-million prize on his head. An intriguing casualty  was Mohammad Khattab, described by military intelligence as a Moroccan instructor in producing IEDs and a preacher of Islamic jihad.   [full text] Sun.Star Cebu  "Suspension as political weapon" THAT the Office of the President would order the suspension of Cebu City Mayor Michael Rama isn't totally unexpected. The Aquino administration has been accused of  using the suspensi...

Philippine Star  "Still on Death Row" It took only a few months for the court in Yogyakarta to convict and sentence Veloso following her arrest. The Indonesians aren’t going to wait forever for the Philippine courts to do their job. Last year Indonesians themselves staged rallies in Jakarta to pressure their government to grant Veloso a reprieve. Those last-minute appeals to save Mary Jane must not be wasted.  [full text] Sun.Star Cebu  "Sacrificed for family" FOR the family” is the common pretext made by women who stay in an abusive relationship, preferring to risk their sanity and safety, as well as that of their children, than separating from a partner whom they depend on for survival.  Inequality is at the root of poverty, which spiked the number of crimes committed against women and children last year.  The public servants that deserve the votes must answer the long-denied demand of women: “for regular jobs and decent wages,” “for access to social serv...

Philippine Star  "IS at the Door" Despite military denials about the terrorist Islamic State gaining a foothold in Mindanao, IS is seen to have at least inspired the assassination attempt on a Saudi  Arabian cleric and a Saudi diplomat Tuesday night in Zamboanga City. Mindanao is already plagued by several violent groups: the Abu Sayyaf, Jemaah Islamiyah, Bangsamoro Islamic Freedom Fighters and, in several areas, the communist New  People’s Army. The leadership of the Moro Islamic Liberation Front has promised to continue observing a truce with the government despite the failure of Congress to  pass a law creating the Bangsamoro. But IS can inspire adherents among any of the Islamic groups, including the MILF.   [full text] Sun.Star Cebu  "New Supplemental Budget" CEBU City Mayor Michael Rama is again putting the majority Bando Osmeña-Pundok Kauswagan (BOPK) councilors on the defensive after he submitted a proposed supplemental  budget, the first...

The Freeman's  Lastimosa: " Kapayasan sa Oslob" Gihulagway sa Vatican ang "Spotlight" nga di anti-Catholic ug nga igo lang nituki sa kalisod sa mga biktima sa pangabuso sa pagpangita og hustisya sa ilang gidangatan tungod sa pagtabon sa mga kardinal ug mga obispo sa mga pari nga gipasanginlan og mga krimen. Bugtong gisaway sa Vatican ang kapakyas sa producers pag-apil sa seryusong kampanya sa Roma batok sa pangabuso sa kaparian.  Ambot unsay sukaranan sa pangangkon sa Vatican sa seryuso nilang kampanya batok sa pangabuso. [...] A pan wa pay nakita ang katawhan nga konkreto nga mga lakang ang Simbahang Katoliko sa pagpatuman sa agresibong kampanya sa Santo Papa. Makapasubo nga sa atong kaugalingong tugkaran, nitumaw gihapon ang mga pasangil sa padayong pangabuso sa kaparian ug sa padayong pagtabon sa mga obispo ug ubang kadagkoan sa simbahan. [...]  Napugos bang simbahan pagpapahawa ni Garcia kay gibisto sa laing pamantalaan sa Estados Unidos, ang Los Angeles ...