THE Philippines shoud learn from China’s economic transformation paradigm, an expert said.
“China’s disciplined implementation of its economic blueprints reflects the Biblical principle of ‘Where there is no vision, the people perish,'” said geopolitical and economic risk consultant Mario Ferdinand Pasion at a forum organized by the Asian Century Philippines Strategic Studies Institute on Wednesday.
“The time has come for the Philippines to prioritize practical partnerships over confrontational politics. Only by doing so can we realize our nation’s aspirations of becoming a true First World country,” he added.
He said China, once a war-torn nation humiliated by external powers, has emerged as a global economic powerhouse through innovative strategies, pragmatic diplomacy and unrelenting patriotism.
Pasion said that central to China’s strategy was the development of a balanced “agro-industrial base and a refusal to “conform blindly” to the prescriptions of Western financial institutions like the International Monetary Fund and World Bank.
Instead, China maintained a competitive currency value, fostering the global affordability of its exports, he added.
It also prioritized self-reliance in critical industries such as steel production, enabling it to manufacture essential goods, including vehicles and electronics.
China’s inclusive and visionary approach, Pasion said, was evident in grassroots involvement in long-term economic planning, adding the country’s foreign policy played a pivotal role in the transformation of its economy.
Despite frequent criticisms from global powers on issues like human rights and territorial disputes, China avoided letting political differences hinder trade.
This pragmatic approach has enabled it to maintain productive relationships with countries worldwide, including the Philippines.
Pasion said the $1.6 billion in Philippine export sales at the 2024 China International Import Expo was an example.
He said Philippine products, particularly durian and other food items, garnered significant interest, showcasing the benefits of fostering strong trade ties.
Pasion said the Philippines should embrace similar pragmatism and diversify its alliances, including partnerships with nations like China, Russia and other non-Western states, to secure resources and technological support.
He added that the Philippines must adopt a pragmatic and inclusive stance by joining global trade initiatives like China’s Belt and Road Initiative and strengthening ties with the Brics bloc (Brazil, Russia, India, China and South Africa).
These collaborations, he said, could provide the framework for sustainable growth and elevate the Philippines from its Third World status.
Be the first to comment