Despite all the odds, the bourse has managed to survive and made a good showing of itself in the local economic arena. Several times has the worldwide bourse encountered a roller coaster experience, yet the local bourse has stayed on course toward a relatively steady and firm status. Notwithstanding the (un)foreseen “uneventful” episode brought by the Ukraine crisis that inevitably led to a financial letdown and slowdown in economic activity in that part of the world but reverberated to the rest of the world. This had also added to the protracted Syrian crisis plus the current disorder experienced in the Thailand region.
Effectively, the current world stock market saw a usual trend of ups and downs which may yet signal some amount of crisis that inevitably lead to a recession or worse, a depression. Although the local shares market may be influenced by such financial phenomenon, because of our dependence in the outside world, but the limited size of our market which in this kind of situation is favorable, the collateral damage that can be brought in is mere calculated.
But what draws other countries to the path of financial and economic stability is reflective and perceptive of the nature of local portfolio or securities market that is in tow. In the long-run, what seemed to be the undeveloped nature of our bourse speaks something of our economy, which in the long run is negatively implied. Whereas in our neighboring countries, there is a convergence of stock market players and interest in financial literacy, the local market appears wanting in concerned or better still knowledgeable share players. This area of investment as of late lacks maturity and fails to draw interest from even among the financially capable protagonists. Not because of the quality of demographic incidents we have or economic status of the people, but the proper information campaign that should draw their interests in this kind of venture. But whose job is it anyway?
It should be noted that the country cannot create an image of economic maturity and financial stability unless we improve and create a significant and sizeable stock market system that will project an image of international competitiveness, consistency and stability. In any developed country that has maintained a certain level of economic soundness, the stock market participation rate in their local growth is significant and has far-reaching implications in the overall stability.
Unemployment is relentless
In spite of the news of growth, upgraded credit standing, record-breaking stock market performances and foreign direct investment interest, unemployment remains relentless and in fact growing. The supposed “agents of change” that will radically change our employment indicators has not contributed in any way for the betterment of our employment statistics. Are all the growth factors for real or for reel?
Primarily, the growth areas accomplished came from non-employment sources like portfolio, technology that are capital-intensive and real property that is seasonal in character. What the country needs is permanent growth structures like investments through public–private partnerships (PPP) that up to now remains anemic.
But the current massive rehabilitation program in the Eastern Visayas and infrastructure rehabilitation and build-up in the National Capital Region will most likely provide relief to the relentless unemployment that has negatively affected the economy the past several years. It is worth mentioning that infrastructure development provides opportunities for growth, which accompanies employment opportunities to our people. We can only presume and presume that the people have felt the effect of development if its outcome has redounded to their benefit both as an individual and as citizen of the country.
Malaysian Airline case
The disappearance of the Malaysian Airlines flight MH 370 and the 239 passengers and crew remains a mystery up to now. It has been almost a week but no signs or traces of the plane has been recovered or seen. Relatives of the passengers, some of which have given up hopes of finding their relatives, are likewise puzzled. Are we in for another episode in mankind’s earthly existence? Is it technology that is responsible for the complete disappearance and without traces of the “ill-fated’ plane? Or is it an outside “force” possessing power that none of us could comprehend except the supernatural power responsible for our existence? For now, we can only speculate and hope for the best . . .
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