The economy-A A +A
Tuesday, June 4, 2013
THERE is this economist who suggested that we should “build on advantages (in our economy) to fuel economic growth.” In a report in the business section of this daily, the professor pointed out to Sun.Star Cebu that “Philippine attributes such as English proficiency, youthful demographic, central location and natural resources would well complement the country’s current credibility.” In short, our country has the foundation for economic growth.
The professor said that Philippine “traits have been discussed widely for years. From a global perspective, it’s high time to utilize and cultivate them to the nation’s benefit.” The Philippines could work “more efficiently...if its special characteristics are incorporated with the basic items underlying the economic growth of every country.”
Certain strengths of the nation include an objective and rule-based enforceability of contracts, an open marketplace and access to capital, where products, ideas and innovations compete to satisfy and retain domestic and global customers and earn a fair return of investments. Assuming these conditions are in place, the nation will have a unique edge over others.
On the other hand, Lexmark International has reportedly made it to the list of the 100 Best Corporate Citizens of the Corporate Responsibility Magazine this year. Lexmark was among those business organizations recognized for its performance in environment, climate change, employee relations, human rights, governance, finance and philanthropy. It is said the stand-out public performance of Lexmark is a combined reflection of all of its employees’ work.
The company now claims to brand “itself as a provider not just of printing or imaging products and services, but of solution to help businesses become efficient by staying on top of their masses of structured and unstructured information. And so, their re-positioning in the market will provide access to solution to accelerate work productivity for large companies and small and medium sized enterprises...financial institutions and...manufacturing firms.
But then, we are not really without any problem. It is said that stock in the country suffered massive losses “for the second time (the other day) following the trend on regional equities market on Wall Street amid concern the (US) Federal Reserve will reduce its stimulus. The “Philippine Stock Exchange Index (PSEI) plummeted 258.57 points or 3.68 percent to close at 6.763.38 from the previous day’s 7,021.95 finish.”
The rather volatile view of the nation’s economy on the whole has brought us to a sense of uneasy “peace” regarding our overall national economic circumstance. But the matter should really make us strive to find a way to make it move on an even keel.
Published in the Sun.Star Cebu newspaper on June 05, 2013.