How can we upgrade our economy given the strength of the global economy especially the giant economies like US and Japan?
Economy refers to the wealth or different resources a particular country benefits from and also refers to way people gain money. Economic growth on the other hand is a factor or basis to which in knowing if a country is in a good situation or is livable and if not. In current times, United States of America and Japan leads the way in terms of maintaining a high-economic growth globally. Philippines on the other hand has a slow and low economic growth due to various reasons may it be poverty, greediness, improper handling of our resources, extortion of foreign companies from our land and the list goes on. The reason why USA and Japan are expanding and successful in terms of economic growth since they tend to lessen their expenses by cutting of unnecessary bills particularly bills for military equipments and by focusing and using it on other necessary things like for healthcare, lessening of poverty through the use of programs and foundations, laws made and money from taxes integrated into things that their citizens will benefit from the most especially in healthcare and technology/innovation. A lot of people from our government also fail to recognize the importance of advancements in our country particularly the field of science and technology. In terms of the professions in our country specifically the nurses, doctors, scientists, researchers and professions that are in line with forensics as well as psychologists are less recognized in terms of giving proper salary. In other words, the government underpays and sees little value in these professions even though they are vital in our country. Proper taxation and proper utilizing the taxes from citizens should also be done. Just like USA and Japan, our country’s leaders should also focus more on healthcare, technology/innovation, invest more in research, fund our professionals since they are necessary for our country’s welfare, implementing foundations and funding on “pangkabuhayan” projects and the likes. Another solution for it would be being open minded to the improper ways that lot of foreign companies and foreign businesses have made in our country that illegally exploits from our resources especially natural resources and also from our citizens which are the workers. The government should recognize also the capabilities of our citizens, the local businesses and instead, stop importing international products or at least lessen it and instead is to “Tangkilikin ang sariling atin.” Aside from Japan and USA, I’ve also read that China is starting to cope with the economic growth by supplying their own needs and expanding their resources and we should learn from it since it is quite effective due to the reason that China might catch up with USA and Japan sooner or later. Lastly, we should give importance to mental health as well since our leaders and the citizens should have a well mental state for them to work effectively. Proper voting of our country’s leaders should also be done therefore we must vote wisely when elections are to come. With all of these, high economic growth and if lucky, being one of the giant economies could be attained by our country.
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