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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...

The expression "postsecular" does more than give public recognition to religious fellowships in view of the functional contribution they make to the reproduction of motivations and attitudes that are societally desirable. The public awareness of a post-secular society also reflects a normative insight that has consequences for the political dealings of unbelieving citizens with believing citizens. In the postsecular society, there is an increasing consensus that certain phases of the "modernization of the public consciousness" involve the assimilation and the reflexive transformation of both religious and secular mentalities. If both sides agree to understand the secularization of society as a complementary learning process, then they will also have cognitive reasons to take seriously each other's contributions to controversial subjects in the public debate. —Jürgen Habermas

Philippine Daily Inquirer's   " Costly traffic " Metro Manila’s traffic mess is one problem that is proving too difficult to untangle. A confluence of events since many administrations ago has led to this nightmare in the capital. Last week, the Japan International Cooperation Agency (Jica) estimated that the worsening traffic congestion in Metro Manila now costs at least P3.5 billion in lost opportunities a day — a jump from the estimated P2.4 billion a day in 2012. The future does not seem to present much promise either. According to the Jica study, Metro Manila’s population in 2015 was nearly 13 million while Bulacan, Rizal, Laguna and Cavite combined had almost 11 million. That puts Mega Manila’s population in 2015 at 24 million.   [link] Mindanao Times  " Missing the point " The stir that the Boracay controversy has created has resulted in concerned agencies scampering for solutions to the garbage problem. In the Davao Region for instanc...

Philippine Star  "State of the nation" Rodrigo Duterte has inherited an economy that is the second fastest growing in the region after China. A framework for peace in Mindanao is in place. Business confidence has been high for the past six years, buoyed by policies that were anchored on good governance.  Last Saturday night, President Duterte signed a landmark order, implementing freedom of information throughout the executive branch. He is expected to push his congressional allies to pass an FOI law to promote transparency in the other branches of government.  The challenges faced by the nation remain daunting. The income gap is a chasm and economic growth has not trickled down, with about 40 percent of Filipinos classified as poor. The lack of decent employment continues to fuel the migrant worker phenomenon, opening Filipinos to exploitation and human trafficking overseas.   [full text] Sun.Star Cebu  "Reviving “hablon”" HABLON sa Cebu” is a community’s ...

From  http://www.ilsussidiario.net/News/English-Spoken-Here/ BREXIT/Italy to the collapse: It's all in the Asian '97-98 crisis? Francesco Sisi June 30, 2016 The largely dreaded Brexit has arrived, and the consequences are apparently so immense and unpredictable that they were neither seen nor anticipated. Neither the EU nor the Britons had prepared a plan B, that is, what they would’ve effectively done if the referendum had chosen to leave the Union . Such is clear from the first frantic reactions of the European Commission President Jean-Claude Junker, who, in substance, said to the British: “and now get the hell off of the EU ASAP” and from the British themselves, who, in the few hours following the results, garnered two million signatures to vote again, while the Scottish formally announced they would stay with the EU and leave the UK instead. However, many in the world don’t worry as much about the destruction of the Kingdom, which, through many diffi...