A country and economy in the ICU

Judging from the feedback of business owners, it can be said that the Philippine economy is in the ICU and no, Mr. President, it has nothing to do with global events!

- CITO BELTRAN

It's because of corruption under your watch.It is infuriating to hear government economists trying to defend the bad situation by citing global and foreign events, even blaming climate change, because none of our ASEAN neighbors have made the same claims.

Assuming all things being equal, how can government economists, apologists, etc. explain the continuing growth and progress in the region, where countries such as Vietnam and Laos have left us behind in spite of climate change, global supply chain disruptions, etc.

While PBBM plays with fire antagonizing China, countries like Thailand, Singapore and Vietnam have quietly been mastering the China model, sending scholars and public servants to China to learn and, as a result, their economies are growing.

Our economic situation can be compared to a "deathbed vigil" where business owners and investors are monitoring how serious the "patient" is daily, while putting away or preparing emergency funds in case things take a terrible turn.

Since the massive DPWH-congressional corruption was exposed, then followed by the general impression that the ongoing investigations are nothing more than a scam and a distraction, the business sector no longer works on "business as usual" mode.

Many leaders I talked with share the sentiment that "the executive, legislative and judicial branches of government are all corrupt." They even expressed disappointment and distrust of the COA and Landbank officials.