posted by Catherine Young on May 20, 2009
An interesting discussion from the Biomodd Team:
Angelo: "Aren't multinational industries providing Filipinos with much needed jobs? So, aren't multinational corporations helping the economy? Multinational subsidiaries, by being located in the Philippines do not become national industries. For like the bananas and pineapples, the profits derived from their operations do not directly accrue to the country (particularly since, to attract multinationals, taxes have been waived and full repatriation of profits allowed).” An interesting text from a different era in Philippine history. Still relevant today?
Wilson: I would say still very much relevant today. In fact it has some added complications. This analysis was very real during the time when globalization is not yet in full swing so just imagine the magnitude now when we are in very liberal and globally connected economic system. Another issue surrouding multinationals is the issue of food security for
the country, the multinational plantations eating up food production areas. Another issue is enviromental -multinational mining companies are going to third world countries to escape very strict regulatory standards in their country in which third world countries are willing to compromise in exchange for the promise of "investments" and employment. "investments" which increase the economic GDP but very volatile investments. For instance, Intel shutting their plant in the Philippines as easily as when they "invested".
Read the pdf file from The History of the Burgis by by Mariel Francisco & Maria Arriola, 1987.
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