By Engrid Genova
Photo from www.whitehouse.gov
Philippine economy is rising for the past years with the help of foreign investors that creates job for young population. One of these countries is the United State of America which plays a very big role in our society, which is why it would be a nightmare for us if USA start becoming isolated and circulate on its own. And that nightmare might be happening now. The newest President of America, Donald Trump is on his way on making America only for America. And this protectionist and individualist prospect is about to affect Philippines big.
Protectionism, a practice of shielding a country’s domestic industries from foreign competition by taxing imports, is one of the strategies of Trump to make America great once more. But by this, our country and other might be ruined again. Like for now, there is estimated 3.4 Filipinos are working in USA, which is 1.1% of their population, excluding 271,000 undocumented Filipinos working. If these citizens were to be ceased from their employment status, which is 46% of the OFW remittance in the country, remittance in the country may be damaged badly, resulting to economic wounds. Where are we going to get that big amount of money if USA will be closing their jobs only for themselves?
Call centers owned by Americans employs 1.2 million Filipinos and generates more than $20 billion in revenues a year. This has been helping a lot of young Filipinos to have a job even without attaining a degree, since our country is familiar in speaking in English, even a high school graduate can be employ and get a high salary. But if trump will order American companies to stop outsourcing in the Philippines, these numbers of Filipino might get back to job hunting again. Some may think it is impossible to the companies to go back to America and leave the other countries. But if it is possible, is the PH economy strong enough to stand on its own? These are just speculations that economist are seeing, No matter it will become a reality or no, our country really needs to improve in our own.
It might give as a glimpse of recession, but for a period of time. If the government will find a way to make our country great even without America in a way that we will also stand on our own resources, both people and natural, it might be possible to even enhance our capability as a nation, and we don’t need Uncle Sam to lean on. After all, there is a lot more countries, developing or developed to look forward for partnership. It will be an enhancement for the Philippines to see more trade rather than less, regardless of the country destination.