Uncompetitive business in the Philippines
I just cannot believe what I am reading here about big business in the Philippines being uncompetitive.
What do you mean uncompetitive?
In Australia, governments hand out vast amounts of taxpayers dollars to businesses just to keep them open, and employing people.
The car manufacturing business springs to mind, where handouts of hundreds of millions of taxpayer dollars are handed over.
When the going gets a bit tough, the govt props up selected banks with vast amounts of taxpayer dollars.
The government passes large amounts of money to industries via specific contracts.
In the US, when the going got tough, the govt handed vast amounts of taxpayers money to selected banks. Not to all, just the favourites, those that paid the most via their lobbyists. In fact, the actual amounts handed over were about ten times what congress had legislated.
In the UK, right now, the prime minister has vetoed EU financial arrangements so that the British financial industry (the city) can be protected from foreign competition.
So before you sink the boot into Phils business, are you sure that business in your own country is competitive without taxpayer support?
Do I hear a deathly silence?
G