Charter Change in the Philippines
Guide Questions:
Summarize the article -- Before summarizing the article:CHACHA needed for inclusive growth. I would like you to know that some sentences below are taken from the article. Thus, I do not account any ownership on some other lines. The article is about Charter change (CHA-CHA) must be pushed in the Philippines. It sites that our Constitution, is not welcoming foreign investors to our mass media and advertising, public utilities, educational institutions, land ownership, and exploitation of natural resources. The good news is, letting foreign investors to invest only in our stock market, not in actual capital goods and fixed investments. Moreover, our president compared our country to China who can afford to be restrictive of land ownership. This proves that we can also have a growing rate. However, the government of China is more efficient than ours in implementing infrastructure projects. On the other hand, changing our constitution can be very simple, according to Feliciano Belmonte, “What the legislators can do is to append the phrase “except when otherwise provided by law” to all the restrictive economic provisions.” Though, it sounded simple, As the critics say, any unlimited ability to buy land could enable the rich Arabs or the Chinese to buy all the 7,100 islands of the Archipelago. Also, Bernardo M. Villegas suggest that the new Foreign Investments Act should allow a 49 percent foreign ownership also to assure the preservation of certain national values that could be endangered in the hands of foreigners who may espouse such counter values as abortion, divorce and gay marriages. All in all, the massive entry of foreign investors – regulated by the Foreign Investments Act – can do much to make all the sectors of the Philippine economy more competitive, with the resulting benefits to consumers in the form of lower prices, higher quality of goods or services and greater productivity from the technology that foreigners will bring with them.
Summarize the article -- Before summarizing the article:CHACHA needed for inclusive growth. I would like you to know that some sentences below are taken from the article. Thus, I do not account any ownership on some other lines. The article is about Charter change (CHA-CHA) must be pushed in the Philippines. It sites that our Constitution, is not welcoming foreign investors to our mass media and advertising, public utilities, educational institutions, land ownership, and exploitation of natural resources. The good news is, letting foreign investors to invest only in our stock market, not in actual capital goods and fixed investments. Moreover, our president compared our country to China who can afford to be restrictive of land ownership. This proves that we can also have a growing rate. However, the government of China is more efficient than ours in implementing infrastructure projects. On the other hand, changing our constitution can be very simple, according to Feliciano Belmonte, “What the legislators can do is to append the phrase “except when otherwise provided by law” to all the restrictive economic provisions.” Though, it sounded simple, As the critics say, any unlimited ability to buy land could enable the rich Arabs or the Chinese to buy all the 7,100 islands of the Archipelago. Also, Bernardo M. Villegas suggest that the new Foreign Investments Act should allow a 49 percent foreign ownership also to assure the preservation of certain national values that could be endangered in the hands of foreigners who may espouse such counter values as abortion, divorce and gay marriages. All in all, the massive entry of foreign investors – regulated by the Foreign Investments Act – can do much to make all the sectors of the Philippine economy more competitive, with the resulting benefits to consumers in the form of lower prices, higher quality of goods or services and greater productivity from the technology that foreigners will bring with them.