 |
 |
| ON THE OTHER HAND |
| If Pakistan Collapses
By Antonio C. Abaya Written on Nov. 19, 2007 For the Standard Today, November 20 issue The ruling neo-cons in Washington DC are facing a geopolitical dilemma: what to do if the government of Gen. Pervez Musharraf were to collapse. Pakistan has replaced Iran as the Crisis-of-the-Month. The Americans (and the Israelis) have been itching to bomb Iran back to, at least, the pre-industrial age. Iran has one of the largest known oil reserves in the world, which the Americans covet, and is developing the technology to build nuclear weapons, which the Israelis fear will be used against them. Iran �s president, Mahmoud Ahmadinejad, has after all said on many occasions that the state of Israel should be wiped off the map. On the other hand, Pakistan may have no oil, but it does have nuclear weapons and the delivery systems with which to lob them to as far as the Mediterranean Sea . (Oil deposits that have been discovered in Central Asia are programmed to be piped across Afghanistan to the Pakistani port city of Karachi . That is why some 30,000 troops from the North Atlantic Treaty Organization (NATO) are fighting Islamic militants in Afghanistan , thousands of miles away from the North Atlantic . Like Iraq , Afghanistan is also about oil.) In any order of battle, therefore, Pakistan is now Top Priority. If the government of Gen. Pervez Musharraf were to collapse, Pakistan �s nuclear arsenal and ballistic missiles would be in danger of falling into the wrong hands. Not into the hands of former prime minister Benazir Bhutto, who is trying to wrest power from Gen. Musharraf through middle-class People Power street protest action, with the help of hundreds of nattily dressed lawyers protesting Musharraf�s moves against the country�s Supreme Court chief justice (whom he had fired earlier over a constitutional point.) . The fear of the neo-cons is that Pakistan �s nuclear arsenal and ballistic missiles might fall into the hands of Islamic militants, who are also trying to overthrow Musharraf, but for their own sectarian goals: the establishment of an Islamic state under Sharia law. A nuclear-armed theocratic state in Pakistan would be the unforeseen realization of the neo-cons� worst fears about Iran . Except that it would exist in the here and now, not something that could happen in two, five or ten years. In addition, a nuclear-armed Pakistan in the hands of Islamic militants would ratchet up the simmering conflict with India over Kashmir, and would embolden the Talibans in Afghanistan to finish off the NATO contingents.. It would also give the Al-Qaida�s Osama bin Laden and Ayman al-Zawahiri, who are believed to be holed up in the mountainous tribal areas in northeast Pakistan ,. more room for maneuver as they plan their next moves against the Crusaders and the Zionists. What to do? An article in the Nov. 18 issue of The New York Times, written by Frederick W. Kagan and Michael O�Hanlon, may suggest what the US response might be. Neo-con Kagan was the chief architect of the Surge Plan which President George W. Bush put into play last January and which has achieved a measure of success in Baghdad and neighboring Anbar Province . O�Hanlon, a senior fellow at the Brookings Institution, was a signatory to the Project for the New American Century declaration of 2000, which set the neo-con parameters for American defense policies under George W. Bush, one year before 9/11. In their joint article, Kagan and O�Hanlon suggest that the US could send Special Forces to seize Pakistan�s nuclear facilities and ship the �nuclear material to someplace like New Mexico,� but acknowledge that �even pro-American Pakistanis would be unlikely to cooperate. More likely, we would have to settle for establishing a remote redoubt within Pakistan, with the nuclear technology guarded by elite Pakistani forces, backed up (and watched over) by crack international troops�.� Another Coalition of the Willing to which President Arroyo would conceivably send 51 fearsome Filipino policemen. �A second broader option would involve supporting the core of the Pakistani armed forces as they sought to hold the country together in the face of an ineffective government, seceding border regions and Al-Qaida and Taliban assassination attempts against the leadership�� In December 2005, Gen. Musharraf survived TWO assassination attempts in TWO weeks, believed to have been hatched by members of his own military�s Inter-Service Intelligence (ISI), a pro-Islamic militants agency which had helped organize the Taliban in Afghanistan during the Soviet occupation (1979-1989). If Musharraf were assassinated the third time around, Benazir Bhutto and the middle class lawyers would not likely inherit the seats of power. More likely, Pakistan may fragment into smaller states, with the Islamic militants grabbing what can be grabbed. For us, this would be bad news because the Islamic militants in Mindanao, Basilan and Sulu have organizational links with Islamic militants in Pakistan , not with those in Saudi Arabia or Egypt .. Wrote Kagan and O�Hanlon: �The great paradox of the post cold-war world is that we are both safer, day to day, and in greater peril than before. There was a time when volatility in places like Pakistan was mostly a humanitarian worry. Today it is as much a threat to our basic security as Soviet tanks once were. We must be militarily and diplomatically prepared to keep ourselves safe in such a world.. Pakistan may be the next big test.� ***** Reactions to [email protected]. Other articles in www.tapatt.org and in acabaya.blogspot.com. OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO Reactions to �If Pakistan Collapses� More Reactions to �PAKStan into Pakistan � More Reactions to �Snappier Elections� More Reactions to �A Moral Alternative� On George Carlin South Korea in Southeast Asia �Sinking Currency, Sinking Country� �The Dumb, the Greedy and the Ugly� I use to be scared of the Arabs, but I am more concerned with North Korea and now, Pakistan . Arabs kasi, sanay na tayo eh. Lets count our blessings, at least we only have a corrupt president, not a demented one. Mike Delgado, (by email), Nov. 21, 2007 wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww Dear Tony: You're quite right. George W and his coterie of neo-cons are faced with a very grave dilemma in the event that President Pervez Musharraf of Pakistan should fall. You can be sure that George W and Co. are wracking their brains now looking for an alternative to Gen. Musharraf. But judging by the recent statement of George W, they have not found one. And so comes this recent astounding emanation from the mouth (or the pen) of George W: He says that the "general [referring to Gen. Musharraf] hasn't crossed the line," and "truly is somebody who believes in democracy." "Hasn't crossed the line" when the general has suspended the Pakistani Constitution, declared Martial Law, and arrested and jailed those who oppose him?" "Truly somebody who believes in democracy" when Gen. Musharraf rigged the last "democratic" elections in Pakistan in his favor? And now rules Pakistan , a country of 160 million people, by decree? Given the stark fact that Pakistan is now under a despot in the person of Gen. Pervez Musharraf, but whom Bush & Co. obviously are compelled to continue to support for want of a more embraceable alternative now, what is the world to make of George W's much-ballyhooed and obsessive "freedom agenda" being implemented primarily by Secretary of State Condoleezza Rice through her "transformational diplomacy?" Let us just say that George W & Co. are in a pickle! Mariano Patalinjug, (by email), Yonkers , NY , Nov. 21, 2007 wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww Dear Tony, If Pakistan collapses, it will be a nightmare for the US . If the nuclear weapons fall into the terrorists� hands, no one is to be blamed but Bush, Cheney, Rice and the Neo-cons of the Republican Party . Republicans have been too hawkish, trigger-happy, and arrogant when dealing with the Muslim world. US policies in the Middle East have been flawed and need to be reviewed. The presence of European nations in the Middle East will probably ease the tension. For now the US serves as a magnet that attracts terrorists, fuel radicalism and incensed the hatred along ideological lines. The support for Israel must have its limits for it alienates the US from the rest of the world. Jews are not the chosen the people, as the Bible says. All of us are. If Jews were, how come they have been expelled in so many countries? People often ask. Dr. Nestor P. Baylan, (by email), New York City , Nov. 21, 2007 wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww Yet another war is being planned. This time against Pakistan . Bush, his neo-cons, and in particular Kagan from AEI and O'Hanlon from Brookings Institute think that the Pakistanis would give up their nukes with a nuclear India next door so easily. Not even the most pro-American Pakistani would allow that. Nor would China who'd be threatened by the American noose closing in on them and the resulting vulnerability of their strategic ally (and thus its own security, too) to their common rival India . http://www.iht.com/articles/2007/11/19/opinion/edkagan.php This madness would never end unless the Israeli-Palestinian problem is solved. Louie Fernandez, (by email), New Jersey , Nov. 21, 2007 wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww Tony, Excellent post. My take: Musharraf is not going to fall any time soon. If he did, the army would simply take over. He recently appointed the chief of intelligence to the highest post in the army which will probably not allow either Benazir Bhutto and her discredited cohorts or the Islamic militants to take over. The worst case scenario of those neo-con pundits in the States, i.e. the nuclear facilities of Pakistan falling into the hands of the Islamic radicals, will most probably not happen. Question now is why the neo-cons are trying to sell such doomsday scenario. George Reyes, (by email), Nov. 21, 2007 wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww. More Reactions to �PAKstan into Pakistan � (Aug. 15, 2007) On November 5, 2007 the world mass media reported that Pakistani lawyers had launched massive non-violent protest actions against the declaration of national emergency (read: martial law) by Pakistani president Pervez Musharraf. According to Reuters, Pakistani police baton-charged and scuffled with lawyers protesting outside the High Court in Karachi . Hundreds of lawyers, student leaders, and opposition stalwarts were arrested. Karachi Bar Association president Iftikhar Hafeez was arrested. A lawyer, Abdul Hafeez, while being arrested, shouted, �We are not scared of these arrests. We will continue our fight, come what may�. Musharraf seized power in 1999 in a coup. This is his second martial law adventure.. US Secretary of State Condoleezza Rice, in a bid to distance her superior Pres. George W. Busch from his own puppet Musharraf, urged the latter �to rejoin the road to democracy�, with a warning that US aid to Pakistan would be placed under review. The US funds Pakistan �s imported war on terror to the tune of US $2 Billion a year. The Pakistanis believe that Musharraf�s main motive in declaring martial law was to preempt the Supreme Court from invalidating his reelection as president last month. In the light of the Pakistan experience, what action must the Filipino lawyers take to express their unity with their oppressed and injured brothers and sisters in the legal profession in that country, considering the principle of universality of justice, freedom, and truth? So far, I have heard no strong institutional response and expression of support from the Philippine bar associations on this matter, especially the Integrated Bar of the Philippines (IBP). Musharraf cited the judicial activism of the Supreme Court as one of his bases for the sudden declaration of martial law. A president who is frightened by the alleged activism of an independent and scholarly Judiciary and who expresses such unfounded fright thru the abhorrent forms of martial law, oppression of his constituents, clamp on basic freedoms, and destruction of institutional democracy is bound to be exiled, at the least, if not killed, by his own people. This statement should serve as a warning to our own militaristic president Pres. Gloria Arroyo and her generals and to the leaders of the overstaying military junta of Burma . I propose the following: 1. That the IBP convene an ad hoc national convention of leaders of all bar associations in the Philippines to adopt a formal resolution condemning the Pakistani martial law, the destruction of its Constitution, and the prostitution of its judiciary; 2. That the said convention discuss ways of pressuring the Philippine Government to unite with other concerned members of the United Nations and its mandated human rights organizations to establish a semi-permanent UN monitoring office in Pakistan that shall conduct continuing contacts and mediations with the martial-law president and military leaders of that country to work for the restoration of democracy therein and to protect the life and limb of protesters, NGOs and the opposition in its major cities; Manuel J. Laserna Jr, (by email), Las Pinas, Nov. 11, 2007 wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww More Reactions to �Snappier Elections� (Nov. 15, 2007) More and more, Tony, I see how providential your device in compiling all the feedback from all sources re their reactions to your column topics. Why, it is like having a global summit with delegates participating individually. The next step perhaps is to put them into some anthology for people to study and learn from. Bravo Tony! Your friend from that great religious boys' school. Tony Joaquin, (by email), Daly City , CA , Nov. 25, 2007) wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww More Reactions to �A Moral Alternative� (Nov. 08, 2007) I would dare say support Gov. Ed Panlilio for PRESIDENT in 2010 - to curb graft and corruption in the country and stop politicking of those who think they know better. He's the perfect candidate for PRESIDENT. If he wins, he won't have a FIRST LADY, he won't have a FIRST FAMILY neither would he build a political dynasty. He's all by himself, thus saving the government of "operational" expenses in Malacanang. He can show the way of good governance and telling the truth in six years. How much of graft and corruption would be reduced? Think about it ~ Mariquit Soriano, (by email), Nov. 25, 2007 wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww Dear Mr. Abaya, I can gather from your exchange of emails with Mr. Mar Patalinjug on this subject that the Philippines may be saved from poverty and corruption were a Filipino to come forward in the style of Lee Kwan Yew of Singapore . Would we assume then that with good governance, our problems would be solved? A Singaporean friend of mine explained in two sentences how they attained their present status in the world. (a) Singapore Island 's unique location at the confluence of trade routes was recognized by Sir Stamford Raffles from the very start anchoring his belief that, "Our objective is not territory but trade." (b) Singapore 's Lee Kwan Yew saw the tremendous odds facing nationhood because "We inherited the island without its hinterland, a heart without a body." The island's unique location for trading ships became the basis of its economic power. The island's lack of a hinterland spurred self-help in its inhabitants and no one could better personify the struggling Singaporean than Lee Kwan Yew. In an analogy, my friend said, "You Filipinos - when you lose your job and don't have money, where do you go? Don't you go back to your barrio to lick your wounds and recover your wits while your folks feed you 'til you're strong enough to return to the city? We, Singaporeans, knew very well we had no barrio to go to. We had no alternative but to succeed on our only island." After six years of self-rule and 25 years of independence, or within one generation, with Lee Kwan Yew at the island nation's helm, the economic growth of Singapore stunned the world. His first task was to take his people on the high road of morality. For example, he took Draconian steps like banning casinos, drugs and vices, imposed high taxes on tobacco and alcohol. Then with the rule of law hanging like a Sword of Damocles above every government employee and official, he asked them "not to even think of corruption" or face extreme penalties. Now, the question is: Will one single Filipino leader be able to imitate Lee Kwan Yew? Long after he had stepped down from office, I remember Sir Lee Kwan Yew's visit to the Philippines where he was asked to give a speech. In his speech, the Cambridge-educated prime minister gave helpful hints on governance, hope for the economic future of our country and the region, and praise for the capabilities of our people. He was given a loud standing ovation. And then everybody turned around and went home and...and...and things went on as before with nary a hoot about Lee Kwan Yew's words, like they were pearls thrown down into a pig sty. We are overpopulated. We are not in a unique location for trade. There is always one barrio to run to. We do not have a strong moral fiber. For the years you have been crying out about the foul deeds of government officials, big and small. Do you note that almost every reader has agreed with you and lauded your opinion, has been disgusted with the criminals and has condemned their foul deeds too? For years and years, the problems have been exposed and defined, yet ,alas, we have never taken the next step which is for us to find solutions. Yes, you have offered hundreds of solutions as some readers have put forward their own. So, where, o where, are the people in or outside the government who are willing to put their thinking, their time, their material or financial support behind these solutions? You have given pearls us but we have thrown these again to our fellow swine. What I'm trying to say is no one man can save us. In order to attain good government and a strong economy we, the people, must bear his task as well. So, if the people's moral fiber remains weak and stays prone to dishonesty, even a Filipino Lee Kwan Yew will despair when asked to lead us. And all your damning will fall on deaf ears. I am inclined, at this stage, to believe only in divine intervention. Heaven help us. Lionel Tierra, (by email), Sacramento , CA , Nov. 25, 2007 (South Korea and Taiwan do not straddle pivotal strategic trade routes, and they too suffered a high level of government corruption and widespread poverty. Yet they were able to turn things around under visionary (though authoritarian) leaders with the right economic strategies, without pleading for divine intervention. Buddhists do not believe in a personal God who intervenes in the affairs of men and women. ACA) wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww Thanks a lot, Tony. We are praying Roilo Golez will become our next President of the New Republic of the Philippines, considering his sterling track record, never been involved in graft and corruption, and excellent scholastic records, a U.S Naval Academy Top Graduate and a Manny Paquiao in his boxing career during his times in the Military, in short he has the discipline and leadership to lead our country! How can we help him propel to the highest post of our country ?So we Filipinos abroad will be back home cause we will be safe back home...Thanks of sharing our sentiments to our countrymen. God bless you! blessings, Gerry Garay, (by email), Clermont , Florida , Nov 27, 2007 wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww On George Carlin Dear Mr Abaya, I looked up in Google the author of that marvelous piece which ended your recent RX and learned that George Carlin is an American writer of black humor who's just turned 70. What he wrote may apply more to inhabitants of advanced countries, but it should be digested by those of us in a developing country which has been seduced by all things Western. Truer words have never been spoken -- they point to plain common sense and simple humanity which unfortunately not many Pinoys (politicians and ordinary citizens) possess these days. Renata Lopez, (by email), Nov. 25, 2007 wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww Dear Mr. Abaya: As one of the regular readers of your column, I was greatly disappointed that you attributed the "Paradox of Our Time in History" to George Carlin. You simply could have visited his official web site to know that he has denied writing the said piece. Mr. Carlin's web site, http://www.georgecarlin.com/home/home.html Actually the "Paradox of Our Time in History" can be found in http://www.xdude.com/paradox.htm. Once again, your mistake proves for the nth time that not all we read on the Internet -- even those coming from one of the Philippines ' most-respected columnists -- are true. (You discovered that only now? That article was forwarded to us, without any websites mentioned, by someone with the email address [email protected], and we reprinted it, as received, in good faith. Maybe you should send your complaint to him/her. ACA) For the record, Bobby M. Reyes, (by email), Nov. 26, 2007 wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww (Copy furnished) It is okay, Bobby - it is not the author that was important for me because I frankly do not know who George Carlin is. It was the message that I was more interested in disseminating. And whoever wrote it had very good insights. I am ignorant who George Carlin is but I am sure if he read this he must have felt that he should have written it. Such a pity for the real author - he should have just put his own by-line. Why the hell does he use the name of someone else? Ernestina Peralta, (by email), Nov. 27, 2007 P.S. It is also okay to be deceived by malicious and mischievous people who like to give false information - it just goes to show that deep down inside all of us, we are very trusting and have a tremendous faith in the inherent goodness of man. That is why there are some of us who get taken. No harm done with this message, I suppose. wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww (Forwarded to Tapatt by Misael C. Balayan) Source: http://www.cw.com.tw/english/article/373142.jsp South Korea - The New Powerhouse of Southeast Asia By Shelly Lee Published on Jun 6, 2007 From tourists and entertainers to appliances and infrastructure projects, South Korea is practically remaking Southeast Asia in its own image. You�re in the Philippines , but you could easily mistake it for Korea . The Philippines � renowned tourist destination of Boracay attracts hundreds of thousands of visitors each year. Open a Web browser in one of its resorts or cyber cafes and you might be shocked to find that the default home page comes up not in English or Tagalog, but Korean. Dive shops along the beach are packed with Korean tourists. Korean-style restaurants line the surrounding streets. Last year Korea contributed 570,000 tourists out of the Philippines � total of 2.8 million overseas visitors, claiming top rank for the first time. It�s not just the tourist spots that give one the feeling of being transported to Korea . At golf courses in and around the capital city of Manila , large tour buses frequently disgorge young Korean men and women. Along the streets one can see numerous language schools catering exclusively to Koreans, offering one-on-one English courses of one month, six months, or a year. Elmer C. Hernandez, Philippine Undersecretary for Industry and Investments, makes light of these visitors making themselves at home to an unprecedented degree, saying, �It�s just like being in Korea .� Philippines: Way Station of Korean Internationalization Koreans treat the Philippines as an English-language training center and a way station for internationalization. An hour of private English instruction costs 10 to 15 US dollars here, five to eight times less than back in Seoul . Korean families aren�t the only ones anxiously internationalizing; corporations are also making aggressive inroads. Among them, Hanjin Heavy Industries & Construction invested US$1 billion last year in a shipbuilding facility at the Subic Bay Freeport Zone. �Koreans push themselves hard and are very ambitious. Before, you could only reach the island where the shipbuilding facility is located by boat, but they�re building two bridges. Almost overnight they�ve grown to 30,000 employees, so they�ve built a primary school, a church and an expatriate school in just a year and a half,� bemoans Susan Ho, director of the Taiwanese Business Association of Subic Bay. Compare that to Taiwanese company Wistron, which had 5000 personnel in the Philippines at its height, now down to just 2000. Even on isolated islands separated from the world, as long as Koreans see a potential market, they can smell business opportunities. �Koreans haven�t come here to establish Little Koreas; they�re here for the market. Hanjin�s sister company is none other than Korean Airlines, which also came here with its sights set on the growing number of Korean tourists,� relates Armand C. Arrenza, chairman of the Subic Bay Freeport Zone. Koreans have already become the largest contingent of internationals in the Philippines . At nearly 90,000, they far outnumber former colonial master Japan , which currently counts around 20,000 long-term residents living in the Philippines . Many locals and Taiwanese business people get the impression that Koreans treat the Philippines as a province of their own country. The �alternative colonialism� on display in the Philippines is merely a microcosm of the way Korea approaches the entire Southeast Asian region. Colonialism with a New Face: Economic + Human Might On the walls of an underground passageway between a new exhibition center and the Petronas Twin Towers in Kuala Lumpur , nearly half of the advertisements feature LG products or the image of Korean actress Lee Young Ah. The situation is similar in Hanoi , Vietnam . Billboards along the rail-straight highway leading away from the airport advertise Korean brands and are plastered with the oversized likenesses of Korean stars Rain and Jang Dong Gun. Koreans are also the number-one overseas visitors in Vietnam and Cambodia this year. Last year Korea became the top foreign investor in Vietnam , surpassing Taiwan (third in accumulated investment). Korea also became the biggest overseas investor in the Philippines in the first quarter of this year, with investments of US$51.7 billion � four times higher than all of last year. And in Cambodia , Korea is the fastest-growing foreign investor, shooting from third position in 2005 to first last year. Second Only to China : An Eye on 570 Million LG products are status symbols in Indonesia , as are Samsung products in Thailand . A survey by the Taiwan Institute of Economic Research indicated that Southeast Asia trails only China as the leading destination for Korean investment anywhere in the world. The transition from treating Southeast Asia as a market and not just a factory marks a strategic shift by Korea aimed at enjoying tax reductions in preparation for Korea �s 2009 entry into the Asian Free Trade Agreement (AFTA). Establishing trade niches has spurred Korea to an average annual investment in Southeast Asia of US$430 million over the past 15 years, targeting the region�s population of 570 million. From electronics to shipbuilding and steel, Korean investments have targeted industries long in competition with Taiwanese businesses. Steel industry firm Posco invested US$1.2 billion in Vietnam in one fell swoop; Daewoo and four other companies invested together in the massive West West Lake Project outside Hanoi on 207 hectares. In tandem with their real estate development projects, the principals poured a billion US dollars into a power station along with 500 million in a shipbuilding facility and oil exploration. Korean companies are large in number and size of investment, and Korean business people band together more than their Taiwanese counterparts. Korea �s current economic offensive is backed by diplomatic tactics as well, ensuring that Korean capital exerts a dominant influence on the region. Government Backs Two-pronged Strategy The most striking example is Korea �s major urban planning project just off of Cambodia �s Highway Four. In 1996 Korea and Cambodia lacked formal diplomatic relations, but the next year Korean economic aid to Cambodia began to rise steadily, climbing to US$70 million this year. Korea has similarly stepped up its foreign aid to the Philippines. Recently the Korea International Cooperation Agency, under the auspices of the country�s foreign ministry, has funded hospital, IT center, vocational training center, airport, and roadway projects throughout the archipelago, reminiscent of Japan �s foreign aid in past decades. �The Philippines was the only Asian country to dispatch troops to Korea �s aid during the Korean War,� points out Edward G. Chang, chairman of the Korean Business Association in the Philippines . Returning the favor after all this time, Korea has undertaken concerted efforts to establish friendly ties with the Philippines . In line with their rising investment, Korean businessmen are becoming increasingly influential in the Philippines. The largest foreign business council in the Philippines is the Joint Foreign Chambers of Commerce (JFC), composed of the local business associations of the US, Canada, Australia-New Zealand, Europe, Japan and Korea. �The top six trade associations account for 70 percent of foreign investment in the Philippines . And the government is very mindful of us. When we need to discuss something we can arrange a meeting with a councilman with just one phone call,� relates Chang. Taiwanese business representatives, historically the sixth-largest foreign investors in the Philippines , are conspicuously absent from the above roster. Spurred by government strategic initiatives, corporations, families, and individuals have coalesced together in this Korean wave across Southeast Asia . In this game of money and power, commanding land and diplomatic clout, Korea continues to flex its national muscles.***** wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww (Forwarded to Tapatt by Ray Eced) Sinking Currency, Sinking Country By Patrick J. Buchanan Nov. 02, 2007 The euro, worth 83 cents in the early George W. Bush years, is at $1.45. The British pound is back up over $2, the highest level since the Carter era. The Canadian dollar, which used to be worth 65 cents, is worth more than the U.S. dollar for the first time in half a century. Oil is over $90 a barrel. Gold, down to $260 an ounce not so long ago, has hit $800. Have gold, silver, oil, the euro, the pound and the Canadian dollar all suddenly soared in value in just a few years? Nope. The dollar has plummeted in value, more so in Bush's term than during any comparable period of U.S. history. Indeed, Bush is presiding over a worldwide abandonment of the American dollar. Is it all Bush's fault? Nope. The dollar is plunging because America has been living beyond her means, borrowing $2 billion a day from foreign nations to maintain her standard of living and to sustain the American Imperium. The prime suspect in the death of the dollar is the massive trade deficits America has run up, some $5 trillion in total since the passage of NAFTA and the creation of the World Trade Organization in 1994. In 2006, that U.S. trade deficit hit $764 billion. The current account deficit, which includes the trade deficit, plus the net outflow of interest, dividends, capital gains and foreign aid, hit $857 billion, 6.5 percent of GDP. As some of us have been writing for years, such deficits are unsustainable and must lead to a decline of the dollar. A sinking dollar means a poorer nation, and a sinking currency has historically been the mark of a sinking country. And a superpower with a sinking currency is a contradiction in terms. What does this mean for America and Americans? As nations realize that the dollars they are being paid for their products cannot buy in the world markets what they once did, they will demand more dollars for those goods. This will mean rising prices for the imports on which America has become more dependent than we have been since before the Civil War. U.S. tourists traveling to the countries whence their ancestors came will find that the money they saved up does not go as far as they thought. U.S. soldiers stationed overseas will find the cost of rent, gasoline, food, clothing and dining out takes larger and larger bites out of their paychecks. The people those U.S. soldiers defend will be demanding more and more of their money. U.S. diplomats stationed overseas, students and businessmen are already facing tougher times. U.S. foreign aid does not go as far as it did. And there is an element of comedy in seeing the United States going to Beijing to borrow dollars, thus putting our children deeper in debt, to send still more foreign aid to African despots who routinely vote the Chinese line at the United Nations. The Chinese, whose currency is tied to the dollar, and Japan will continue, as long as they can, to keep their currencies low against the dollar. For the Asians think long term, and their goals are strategic. China�growing at 10 percent a year for two decades and now growing at close to 12 percent�is willing to take losses in the value of the dollars it holds to keep the U.S. technology, factories and jobs pouring in, as their exports capture America's markets from U.S. producers. The Japanese will take some loss in the value of their dollar hoard to take down Chrysler, Ford and GM, and capture the U.S. auto market as they captured our TV, camera and computer chip markets. Asians understand that what is important is not who consumes the apples, but who owns the orchard. Other nations that have kept cash reserves in U.S. Treasury bonds and T-bills are watching the value of these assets sink. Not fools, they will begin, as many already have, to divest and diversify, taking in fewer dollars and more euros and yen. As more nations abandon the dollar, its decline will continue. The oil-producing and exporting nations, with trade surpluses, like China, have also begun to take the stash of dollars they have and stuff them into sovereign wealth funds, and use these immense and growing funds to buy up real assets in the United States�investment banks and American companies. Nor is there any end in sight to the sinking of the dollar. For, as foreigners demand more dollars for the oil and goods they sell us, the trade deficit will not fall. And as the U.S. government prints more and more dollars to cover the budget deficits that stretch out�with the coming retirement of the baby boomers�all the way to the horizon, the value of the dollar will fall. And as Ben Bernanke at the Fed tries to keep interest rates low, to keep the U.S. economy from sputtering out in the credit crunch, the value of the dollar will fall. The chickens of free trade are coming home to roost. ***** wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww (Forwarded to Tapatt by Louie Fernandez) The Dumb, the Greedy, and the Ugly. Louie Fernandez, (by email), New Jersey , Nov.23, 2007 Manny's millions shake banks By Jun Vallecera Reporter, BUSINESS MIRROR A LOCALLY-BASED thrift bank and two branches of regular commercial banks based in Manila are having difficulties servicing their clients panicked by the sudden withdrawal of most of the deposits of boxing champion Manny Pacquiao. Informed sources said Pacquiao withdrew all his money from a bank in General Santos City as he conducted a personal audit and found he spent more than P140 million in election-related expenses but was still trounced by his diminutive political opponent. The withdrawal triggered similar withdrawals in two other banks in the city whose own clients heard of the sudden Pacquiao withdrawal, according to the sources. None of the banks was identified but two of them are branches of two Manila-based commercial banks and the other is a locally-based thrift institution, the sources said. Sources said the banks hit by sympathetic withdrawals dealt with their problems by accessing the overnight market to service worried depositors. According to the sources, Pacquiao, who ran under the Kabalikat ng Malayang Pilipino (Kampi), was miffed that his Metro Manila-based political principals did not deliver their end of the bargain as he sought the reimbursement of expenses arising from his decision to seek an elective position in his native province of South Cotabato . There was a reported deal for Pacquiao to spend from out of his personal pockets, with the principals pledging to reimburse every centavo spent at the end of the campaign period. According to sources, Pacquiao called his political principals as it became clear just days before the actual May 14 elections that he would lose his bid to get a congressional seat, only to have them cut the phone line abruptly. Subsequent attempts to reestablish contact proved futile, and this led Pacquiao to take all his money from the banks, ostensibly so the boxing champion could take stock of what was left of his personal wealth, the sources said. Temporarily illiquid banks, such as those hit by mass withdrawals, borrow from others on very short term basis and return the money right after. That the problem was addressed adequately by the overnight market and without the intervention of the Bangko Sentral ng Pilipinas was a clear indication of the relative strength of the banking system as a whole, the sources said. Meanwhile, a member of Team Pacquiao said it was possible that the superstar boxer did lose that much money in his attempt to become a congressman. "The P140-million plus Manny lost, [that] could be true," a Pacquiao confidante said. "Definitely, it's not lower than P100 million." One instance relating to how Pacquiao was duped is how two operators charged the boxer P500,000 but never worked for him after being paid. The operators said they would help Pacquiao in his campaign but would only do so if Pacquiao paid them the initial sum. Pacquiao never heard from them again. He later found out that they were already working in his rival's camp. ***** OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO |