Saturday, February 13, 2016

Uncle Sam is the goose that lays the Golden Eggs for the Philippines

The 1st Golden Egg

The estimated number of Filipinos currently residing in the US is about 3 Million. They account for about 43% of the total inward FOREX remittances to the Philippines. In 2014, this amounted to about $10.4 Billion.

The 2nd Golden Egg

The Philippines has become the primary destination of the BPO business of English-speaking America. The annual revenue being generated by the Philippine BPO Industry is now about $25 Billion.

The 3rd Golden Egg

Since the Panatag Shoal Crisis in mid-2012, we are witness to the steady stream of US military hardware in our Country - guided missile warships, nuclear submarines, etc. These equipment are not cheap. And we need them to keep Communist China at bay. If we acquire and operate them ourselves, I would conservatively estimate the annual cost as no lower than $10 Billion.


Based on the foregoing, it appears that the Golden Eggs which our goose Uncle Sam lays for us are currently worth about $45 Billion per annum.

One does not have to be a genius to figure out that if something bad happens to Uncle Sam's economy, there will be a corresponding reduction in the value of the Philippines' annual Golden Egg windfall.

So whenever the Government of the Republic of the Philippines (GRP) needs to buy something, it should always try to buy American first.

And this is particularly true in our military purchases.

Because the US Defense Industry is a major pillar of the US Economy.

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