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Reflection Paper About Unemployment In The Philippines

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Maria Hey! Mia Hi! How are you? Maria I’m good, thanks for asking. I just came from school… How about you? Any luck finding a job? Mia Well, you know how it is here in the Philippines. Getting a master’s degree won’t secure an occupation for you, what more a high school graduate? Maria Wow! Unemployment is undeniably high in the Philippines. Mia That is true. To be specific, the unemployment rate in the Philippines is 5.7 percent. Maria That is miserable. Have you thought of returning to school? Finish up a degree, maybe in economics? Mia Yes, I have thought about it, but I’m not as rich as you are. My parents have minimum wage jobs, but it’s not enough for them to feed eight children, college is just too expensive. I can’t afford …show more content…

What brand is it? Mia Oppo. Why? Can we get back to our conversation, please? Maria That is a product of capitalism, and while you are complaining that rich businessmen or capitalists are becoming wealthier, just remember the you contribute to that since businesses exist in order to meet the demands of the public. Now, where was I? Oh, yes. I know what socialism is, but I just don’t think that it will be beneficial for the Philippines. Mia Philippines is such a poor country despite having a vast amount of resources, natural resources. Around 21.6 percent of the Philippines’ population lives under the poverty line. Socialism or communism would be the best action towards resolving poverty. Maria Poverty will not be resolved through socialism. First, the Philippines does not have any industries yet, which means we are an agricultural country. That would imply that the Philippines does not have any manufactured goods, and if a country does not have the means to produce their own goods they are required to import in other to compensate for the demands of the public. Another fact about socialism is that citizens have high taxes, if there are high taxes in a country, foreign businesses would not import their products because the business would lose …show more content…

Look at China and Hong Kong, China is a socialist country and Hong Kong is a capitalist region. Hong Kong is a wealthier region compared to any part of mainland China, in fact, Hong Kong has a forty-five thousand nine hundred forty-four thousand dollars GDP per capita. Countries such as Qatar who has an eighty-eight thousand two hundred twenty-two thousand GDP per capita do not pay income taxes. When the taxation is low, businessmen would be encouraged to establish businesses, and a country with little to no taxes at all would benefit since more tourists would be attracted for it to be their next travel destination. Mia Low taxation will definitely allow more goods and services to be cheaper, but when we look at it in a different perspective, my perspective, would be that foreign businesses would be attracted to establish businesses in the Philippines and instead of having a nation that consists of local businessmen, it would be a nation that is filled with foreign capitalists. We need to protect our country from foreign industries. Neo-Colonization in the Philippines is still evident, and we can never address that issue unless we intend to!

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