THE Semiconductor and Electronics Industries in the Philippines, Foundation Inc. (SEIPI) has revised its growth target for electronics exports from 5 percent to zero percent for 2023 due to the ongoing geopolitical conflicts such as the trade war between the United States and China.
There is virtually no livelihood and employment aspect that Covid-19 has not disrupted, and our poor countrymen were disproportionately affected by the pandemic. Millions of minimum wage earners and contract workers that lost their jobs became poorer because of the long lockdowns. Thanks to the decision of President Ferdinand Marcos Jr. to lift restrictions earlier than expected, the people got their livelihood back. But, just as they are starting to recoup their income losses, some wise lawmakers are trying to find a new way to push poor Filipinos deeper into poverty.
IN the Bible seven years of feast were followed by seven years of famine. For banks there have been 10 lean years. Subprime-loan defaults started to rise in February 2007, causing a near-collapse of the industry in America and Europe. Next came bailouts from governments, then years of groveling before regulators, mass firings and quarter after quarter of poor results that left banks’ shareholders disappointed.