- 2 days ago
Prices keep rising—but what’s really causing it, and how does it affect ordinary Filipinos?
Join us LIVE on Beyond the Headlines as we talk about inflation, economic slowdown, and the impact of global conflicts on daily life with Philip Tan.
🎙️ Guest: Philip Tan, President & CEO of WM Global Holdings, Inc.
📌 Topic: Economic challenges and the rising cost of living
💬 Drop your questions and join the conversation live.
Join us LIVE on Beyond the Headlines as we talk about inflation, economic slowdown, and the impact of global conflicts on daily life with Philip Tan.
🎙️ Guest: Philip Tan, President & CEO of WM Global Holdings, Inc.
📌 Topic: Economic challenges and the rising cost of living
💬 Drop your questions and join the conversation live.
Category
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NewsTranscript
01:00And our everyday lives.
01:02To help us better understand the economic realities behind the headlines is the management representative of Regional Tripartite Wage and
01:10Productivity Board of the Department of Labor and Employment Region 7, Dr. Philip Tan.
01:17Good morning or good afternoon.
01:19Good afternoon.
01:20Dr. Philip, welcome to Beyond the Headlines.
01:22Yeah, it's an honor that you invited me for this afternoon session.
01:26And I would like to share whatever would be the best information of your listeners and followers of Sunstar.
01:35And it's also an honor for us to have you here because just yesterday we learned about 2.8%
01:46GDP growth for the country.
01:48And our objective also here in the show is we want to see the connection between the numbers and how
01:55they impact everyday Cebuanos and everyday Filipinos.
01:58So to that then, going to the 2.8% GDP growth for the first quarter of 2026, what do
02:05you think is an implication of this to everyday Filipinos?
02:09Well, I think the 2.6% GDP is a reflection of how internationally and nationally our economics are being
02:25affected by both politics and external factors.
02:29So the 2.6% GDP has been complicated because prior to last year, our GDP was already down.
02:40With the Middle East crisis, it just worsened.
02:44But the major concern also is not only the GDP being low at 2.6%, but remember that inflation is
02:54very high at 7.2%.
02:56So the gap between inflation and GDP will create the impression that we are under stagflation.
03:06So stagflation means there is less demand, very slow growth, but yet prices are very high.
03:15So if you're talking about blood pressure, it's really a very dangerous sign of a stroke if this will continue.
03:26You've mentioned that this is a mixture of the Middle East tension, at the same time, the political situation of
03:37the Philippines.
03:38And I've heard certain economists also would say that we are already headed to this level also, even before the
03:48Middle East tension.
03:49What exactly is the situation, you know, you mentioned political, in the Philippines that also, in your opinion or in
03:58your view, contributed to the slowdown?
04:01I think one of the major factors in any businessman is always the trust issue.
04:06If we trust the government, the policy, the direction, and how it is being managed, investors automatically will come in,
04:15both international and the local.
04:18But if the trust issue is there, and there is always doubt, and complicated by some external factors like the
04:25Middle East, it just worsens the whole thing.
04:27So even when we are in the wage board, I would like to share with you that our counterpart in
04:38the wage board, we are both labor, management, and government agencies, DOLE, NEDA, and DTI.
04:45So right now, this kind of scenario will create pressure for labor to ask for an increase of wages.
04:54Now, as I've said initially to them, we belong to the same sinking ship.
05:02So whatever happens, we will go together.
05:05So it does not mean that when you ask for the implications of being saved by management, which we, management
05:17also is facing a lot of problems, then the whole scenario will just be going back and forth.
05:24And there is no solution on hand unless if government really would like to put their acts together.
05:30And correct me if I'm wrong, because I've also read somewhere, and correct me if I'm wrong if this is
05:37also aligned to what you just said, to simplify things, if companies would also increase their wages, that could translate
05:48to higher prices of goods and services.
05:51So in that way, it is just going back and forth, because once also goods and services would increase, then
06:02even if they increase their salary, the power remains to be low.
06:07I hope our viewers have captured that.
06:10So now in the time of social media, let's look at on the political implication minus the gory details.
06:18There is also a value to pursue political concerns that some Filipinos also think needs to be addressed.
06:30I'm referring to the impeachment and the flood control scandals.
06:35But in the process of doing so, in the age of technology and social media, it's also like the Philippines
06:43were washing our dirty linens in a global stage, which would impact also how investors would view the country.
06:51Where do you think is a reasonable balance, that we are pursuing our domestic issues, at the same time, not
07:01washing our dirty linens, that would also impact how investors will view the country?
07:10Well, we look at it this way, DJ Moises, now that we businessmen look at the truth.
07:18You try to varnish it, it will not help, because the truth will always come out.
07:25So, taking into consideration of what is going on right now, well, it is sad to say that we are
07:33washing our dirty linens in front of a lot of people, but that is the sad reality we are in.
07:39So we try to face it, do something good about it.
07:43If the government can do it, so much the better.
07:46If not, then everyone has to make some recalibration of where they are in, both between labor and management.
07:56So, in the wage board, we try to balance that.
07:59We try to look at the numbers and look at how government reacts.
08:03And so far, they have been doing a lot of ayuda to help these drivers and everything.
08:09But if I were to ask them, what are you doing to help us businessmen, the micro-small companies that
08:17are reeling, you know, the worst part is not just to pass on the cost.
08:21The worst part, if your business is going down, you retrench people.
08:26And that's the worst part of losing labor.
08:31So, I don't know how both labor and management right now is looking at the government side.
08:39Of course, the promise is always there, that this is coming, we are doing this and that.
08:44But the sad reality is, if you wait for government to help us in management, it has been almost two
08:53months.
08:54But the promise has not yet been made.
08:56And actually, while you were giving your answer, it makes better sense to me why we need to look at
09:04not just the GDP growth, but we also look at inflation and employment.
09:10Because if growth is slowing down and employment or underemployment is going up, then that means the micro-small and
09:24medium enterprises may have been struggling also to keep the workforce.
09:32If there's an increase on this side with the slowing down of the economy.
09:37And so, adjusting the wages is not the only cure to the problem.
09:45I look at it first.
09:47Of course, we try to preserve labor.
09:49That is our priority.
09:51Because whether we like it or not, the success of any business also without labor cannot be possible.
09:56So, having the right people and the right size of the right people on hand will create or break your
10:05business.
10:06Now, it's just sad to say that some companies right now are doing poor sleep already.
10:16So, they're working instead of six days, they're working on five days, then rotate the number of people.
10:23So, sad to say, but, you know, sometimes we have to preserve our people also.
10:30Maybe we would like to avoid the last resort of firing people.
10:35It's sad because if you fire them right now, it's hard for them to look up for other jobs because
10:42the business is bad.
10:45So, even granting for the sake of discussion, even if Middle East tomorrow, Trump will sign a peace accord or
10:54whatever,
10:55it will take at least another six months to stabilize the whole thing.
10:58My question is, how would the micro, small, medium-sized companies will be able to survive in the next six
11:08months without clear-cut policies or direction from government?
11:15We are in ICU where oxygen is hard.
11:21We're breathing like hell already.
11:23So, I don't know what, but I have been telling about my friends in government.
11:30I said, well, promise has always been there.
11:33But later on, they would tell me, oh, we need to have this sign in Manila, centralize everything.
11:41I said, you know, if the patient is dying and you need another clearance, by the time you cleared it,
11:49the patient is dead.
11:51So, you know, time is an essence.
11:54But I don't know whether time is in favor of government or not.
11:58So, that's another issue.
11:59So, now we see GDP growth slowing down.
12:04And then we're also seeing inflation going up.
12:09At what particular point when we can say, like an everyday Filipino or an everyday Sabuano,
12:17that this level is already a serious concern?
12:23I think when their pockets are empty, they will start realizing that this is a serious matter.
12:30And I think most Filipinos right now feel that already because of the salaries are just not enough because of
12:38inflation.
12:39I can't blame them.
12:43Because of course, DTI will say that they have controlled canned goods and all those.
12:51But, you know, those items, the fresh foods in the local market when the ordinary Juan de la Cruz will
12:59buy,
12:59that is where there is no limit of increase.
13:03The other part also that I wish the viewers and Everyday Sabuano would understand is,
13:11it also looks like there is a pattern of inflation in central Visayas to be higher than Luzon or Mindanao.
13:23Why is that so?
13:26I was trying to avoid that.
13:28But since you brought it out, central Visayas actually were hitting inflation at almost 10%.
13:37Why?
13:38Because a year ago, there were two calamities.
13:45One was the flooding, one was the typhoon.
13:48Then it affected, of course, agriculture or whatever.
13:52But maybe that is nature.
13:55We can only blame God for it.
13:58But if we cannot do something or government justice is too slow for this to be recovered,
14:05then I see some sufferings, in particular Region 7,
14:16that most ordinary people will be the first to get this impact in the prices in the common town.
14:25Right now, at least from my visibility, and you can correct me also if I'm wrong,
14:31much of what I'm hearing is ayuda-related as intervention.
14:37But in your view, what do you think are better approaches that government or local governments should consider?
14:46Region 7, for example, or Cebu in particular, at a time like this, minus the ayuda part?
14:54Okay, that's almost the knee-jerk reaction, man, of every local government unit.
15:00Well, ayuda per se is not bad.
15:04But when it becomes a norm in government that the only way to help the poor is for them to
15:13beg for it
15:14and for politicians to take advantage of it, then that's really a very bad sign.
15:21Okay?
15:22Now, ayuda is supposed to be a temporary issue.
15:27But right now, it has been part of the institution of this government,
15:32or the previous, even previous government.
15:34Then the ordinary one, Dila Cruz, becomes hopeless and only thinks that it is ayuda that will bring them to
15:44promised land.
15:45But the government should create one, ease of doing business, that for us…
15:51Which is a perennial concern.
15:53Yes.
15:54Two, is to create an environment wherein fair play and no favoritism within the business sector.
16:04And avoid monopoly at all costs.
16:08But when you start to be favoring a few, monopoly becomes part of it.
16:13Because you're given part of those preferred industry.
16:19Sanctioned, of course, by the leaders in government.
16:23What about the view on the impact of reducing excise tax on fuel?
16:34Okay, that's also a constant debate that I hear, no?
16:38Before we move to value-added tax, let's start with excise tax.
16:44Actually, if you are…
16:48If I have to understand it, whatever loss that they have by giving up the collection of excise tax actually
16:57is recovered by BAT.
17:00Because BAT is a percentage of the price of fuel of the current market.
17:06So, the current market before was 60.
17:09So, right now it is 100.
17:11So, your BAT is based on 100.
17:14Okay?
17:15Your excise tax is fixed.
17:19Okay?
17:20So, if you remove, let's say, 6 pesos or whatever excise tax per barrel or whatever, that is fixed.
17:28But your BAT is floating.
17:30So, you make more money with BAT rather than excise tax.
17:36That is why they are not willing to give up even excise tax in crude oil.
17:42They are willing to do it on other things.
17:45See?
17:46So, BAT, that is where the government loves BAT so much because that is prevailing market price.
17:55Excise tax is fixed.
17:57Okay?
17:58But they are not giving up the collection of excise tax in crude oil.
18:03They are willing to give up other areas in the petroleum.
18:06So, I read several weeks ago when people made fun out of it.
18:11When they noticed that diesel remains expensive and incidentally, diesel supposedly is widely used.
18:19That would have been an area where an intervention should be more intense.
18:27The ayuda comes from whatever collection of government in the BAT right now.
18:34If they give up BAT or excise tax, then the ayuda will also stop.
18:38That will also complicate.
18:39So, it's a choice of how the government would like to see that will impact and helping the poor immediately.
18:49Consequently, not also considering that the industry will be absorbing so much because of the high cost.
18:56So, babalik yun sa ordinary Juan de la Cruz.
18:59Because the cost, logistical cost of transport and everything will grow up.
19:04And whatever ayuda you're receiving is not enough just to cover everything.
19:08Just like the 5,000 that the Jeepney transport operators received.
19:17And I thought that there's more 5,000 but it looked like at that time…
19:24No, no, no. One time only.
19:25It's just one time.
19:26So, given the increase, isa na nakatubil.
19:28Yes.
19:29And then, that's it.
19:30So, now I've also, because you also shared some information apart of this interview, along the way, it also mentioned
19:40the double squeeze on MSMEs for them or for us because I'm part of this to survive.
19:50And that is the rising cost and the weaker consumer spending.
19:56So, for MSMEs like me, how can we strike a balance so that we are able to still, not even
20:04thrive, but at least survive this particular chapter of our entrepreneurial lives?
20:13Well, it's really hard right now, it's based on your kind of talent and skills.
20:20So, if you have a business that is less competition, maybe you can roll it over, then try to lessen
20:29the impact.
20:30But if competition is very tough on the kind of industry where you belong, that is where the big problem
20:38comes in because if there is less demand, like example, you look at the restaurants right now.
20:44There are a lot of restaurants right now, very few guests, but the cost is very high.
20:57So, but they cannot also increase because once you increase, the less people that will come in because they cannot
21:04afford it anymore.
21:06So, hotels also, except like it's the ASEAN, pero after this, hotels will also feel the blue.
21:16I asked my friends who is in the hotel business, I said, how many bookings have you looked at beyond
21:24maybe two to three months after the ASEAN?
21:28And they said, very bad.
21:31So, right now, still very happy, maybe most hotels are full because of this and that.
21:36But I said, after this, that is the real challenge.
21:40Within the next quarter after ASEAN.
21:42Because that is where supposed to be the natural tendency of the economy to move on based on the real
21:54market needs.
21:56Right now, ASEAN is just an artificial because this is a special event.
22:00But normally, tourism should be within, which is the local and international for foreigners to come in.
22:09But with the rising cost of fuel right now, jet fuel and everything, the airfare just doubled.
22:18I was about to go to Korea for our Rotary Sister Club invitation, but the cost of the airfare almost
22:26doubled already.
22:28So, you consider this.
22:29Maybe the hotel, maybe there, they are not going to increase because less.
22:35But the airfare is the first cost that you will have to consider when you travel.
22:40Now, there are theories or comments from people that I hear.
22:50And then, when I add what you just said, it perfectly makes better sense to me now when I hear
22:58conference in the hospitality industry.
23:01Some experts would say the reason why hotel rooms in the Philippines are expensive because there are not many rooms
23:11compared to destinations like Thailand or Vietnam.
23:18And then, my hotel, my friends also in the industry would say, but it's also hard to increase the number
23:25of rooms because we cannot even make the existing rooms occupied.
23:32So, I think now I have a better appreciation on why the problems that we are in requires more strategic
23:42thinking and policy decisions.
23:45It's not just like, just increase the number of rooms or keep your number of rooms.
23:52There's a lot of interplay around.
23:54I think I've talked with tourism officials in government and I told them, I think one of those that really
24:05made our tourism go down was when they did not give importance to the China market, the tourism in China
24:14right now.
24:14They make it very difficult for them to come without visa and everything.
24:19And I think that was, for me, it was not a good decision.
24:25I would not say it was a blunder, but I think due for that, then the Philippines tourism, there's nothing
24:34new.
24:35Actually, if you come in once, you don't like to come because there's nothing new.
24:40Unlike in other countries, you cannot go to that country once.
24:45You have to go there multiple times just to cover the tourism of that particular country.
24:51In our country, you go to the beach and say, oh, this is the beach and that's it, finish.
24:56Other than that, mall, they have better malls than us.
25:01That's also a common misconception.
25:02I always hear that the Philippines has a better mall, but when I travel, it's not necessarily true.
25:07So, not necessarily, maybe on size, but the quality.
25:10Size, yes.
25:10Yeah, the size, it's big, but the quality, you know, when you go to Europe or in China in particular,
25:18China, it's very attractive.
25:21The lightings and everything.
25:24Yeah, so anyway.
25:24That's a common misconception also that our malls are tourist attractions.
25:31Yeah, anyhow, now let's go back to the everyday Filipino, everyday someone or the families.
25:39So, now that we're seeing inflation rising and it looks like there is no significant turning back, looking at the
25:48trend,
25:50what are your suggestions also for everyday families?
25:54Let's start with the middle class.
25:58Middle class, maybe it's not only middle class.
26:02I think everyone has to do a recalibration or readjustment of your lifestyle.
26:08So, even for me, maybe I used to go out Friday, Saturday, Sunday with the family and I said,
26:16you know, things are getting expensive.
26:19Why don't we just cook at home?
26:21We can eat better food, you know, and everybody just...
26:25And minus the 60% markup.
26:28Anyway, continue.
26:30And, you know, sometimes these are the times that you have to consider that budgeting is very important also.
26:40Now, I would see even the ordinary person in the streets.
26:49Maybe they eat less based on their budget, but that is an adjustment because if your money is only this,
26:58then with the rice going up and all these things,
27:01maybe you will eat less rice, less this, then more of vegetable, more of you substitute something just for you
27:12to survive.
27:13And hopefully, if you're able to recover and after the economy will rebound back, hopefully, then it's easy to go
27:23back to your usual.
27:24But it is hard to do a little of those sacrifices if you're not used to that kind of level.
27:30So, these are, I would say, even in my business, we did a lot of scaling down and we look
27:40at what is necessary, unnecessary, and try to save as much because these are the times that you cannot afford.
27:50Now, during the pandemic, we've also seen domains that thrive, like e-commerce, for example.
28:01Specific to this particular crisis that we are in, what do you think are the industries also that can thrive
28:11in a time like this, aside from gas stations?
28:15Okay, look at it this way.
28:17Let us try to understand the situation of the pandemic and today.
28:24When the pandemic started, we were caught unaware because the lockdown was just all of a sudden.
28:32And during those times, we did not experience hardship.
28:36So, meaning companies have retained earnings, you have savings.
28:40The adjustment, there was no inflation, food prices was stable, fuel was very cheap.
28:49In fact, it was a negative, well, no, the pricing of fuel.
28:54And you can see that the survival of during the pandemic, most Filipinos were able to survive.
29:01And a lot of industries, home-based industries, were able to take advantage of the situation.
29:12But right now, with this political and the Middle East crisis,
29:20you can see that the ordinary one, De La Cruz, is fully exhausted already.
29:27So, meaning they either still live with borrowed money or on credit or they just simply have to lower down
29:37their expending.
29:39So, these are the two scenarios right now.
29:43And I would say that creating a new industry out of this scenario is really very difficult.
29:53It's really very difficult.
29:54Even gasoline stations, they are just a windfall right now.
30:00They are just having a windfall right now.
30:02But remember, the fuel industry is very complicated.
30:05Right now, if everybody starts adjusting and the demand starts going down,
30:10they are going to have a hard time because the price may go down, but their cost is still high.
30:18But they have to sell it down because if those depots, there is no sales, no consumption,
30:28there's another load, a ship load of 2 million that goes to the depot.
30:34But if the consumption is not there, then that ship is going to float there.
30:40And you have to pay the mortgages for the ship that stays there, waiting for you, for your depot, to
30:49be consumed.
30:50That is why you can see gasoline station.
30:52I would not mention which gasoline station.
30:54There's a price war right now.
30:56Some are very expensive.
30:58Some are cheap.
31:00Because why?
31:01They look at their depot.
31:03If their depot is full and there is another tanker coming in, they have to sell it.
31:10In order to pump in that ship load to the depot.
31:13So it's a very tricky business in the fuel industry.
31:18And while you were saying that about the pandemic and also the current situation,
31:25and you can comment further,
31:27I also realized my subconscious observation that during the pandemic, it was tough.
31:36But for a reason, because a lot are in their homes, the well-being also improved.
31:43But in this situation, people, at least in my circle, are going through tough times.
31:50But it's physically exhausting because we're not resting in our home.
31:56We're out looking for money, no?
31:58So that is also my subconscious observation, the difference between the two.
32:05I pity also even my own employees right now.
32:08And they're feeling so much pain already.
32:12But I also share them.
32:15Your pain is as bad as mine.
32:19We belong to the same sinking ship.
32:22So how I wish that I would have done more to help you.
32:27But right now, if you still have a job, be happy already.
32:33Otherwise, there are a lot of companies that are trying to lay off.
32:36And, you know, it's tough for them.
32:40And the worst is, you're not closed down.
32:43If you really feel that you throw in the towel and say, it's enough.
32:48It's not.
32:49And that said, I hope I'm not putting you on the spot.
32:53What was your reaction when you saw the three-day holiday this week?
33:02And the reason why I'm laughing, because now I could see I was an employee in the past.
33:09And when I see news like that, frankly speaking, there's a different, when I saw the news.
33:20And when I also saw how the business people also reacted to it, it's like, okay, good.
33:27I'm not feeling differently at all.
33:30This is how you see government reacts to things.
33:36They do not plan things well.
33:41We discuss so many things.
33:44You know, the worst of us, we're not bad planners.
33:48We are bad executioners.
33:50The Filipinos are not, we are not bad planners.
33:54We plan very good things.
33:56But we're very poor about execution.
33:59So, this is a sign.
34:02They made a lot of plans, made a lot of talks.
34:05Then the execution, the timing is not there.
34:08And all of a sudden, they just said, oh, you know, the president is coming.
34:13And the head of state is coming.
34:15And we have to lock down certain areas.
34:17And we have to declare a special non-market.
34:19Who is going to feed for three days the ordinary Juan de la Cruz without a job?
34:27Are they going to bring them to the five-star Shangri-La hotel for them to eat?
34:33No.
34:34For us also, we cannot just close down three days.
34:39I mean, if you have told us prior, two weeks before, we could have adjusted on things.
34:46So right now, what we did was, we work on three days.
34:50Then the holiday, no work, no pay.
34:51We will apply once a week for the next three weeks just to continue.
34:57Otherwise, I close down the business for three days.
35:00That's not possible.
35:02And just a little bit of humor, at least within my circle.
35:06When we were surprised, because Cebu City was the most surprised.
35:10All of a sudden, it was included into the cities that are on holiday.
35:16Our reaction was, oh, it's a holiday today.
35:18So what?
35:19And then three days?
35:21Mag-hisig?
35:23Three days?
35:24Not again.
35:26That's, I said, we don't mind the holidays as long as you program it.
35:33Then maybe for three days, lapo-lapo.
35:38We can understand that.
35:39Because the traffic was really bad because they put one-way lane, exclusives, lock it down.
35:47Then all the traffic was already in one side of the lane.
35:51And even for the first day, I got an invitation for me to go to the reef because a lot
35:58of, I said, come on.
36:00I don't need that kind of invitation.
36:02So anyway, the point there is, you know, we in the business sector, we don't mind this kind of, that
36:12they'll help promote.
36:14But I do not believe that in other countries, they are also willing to lock down or to suspend holidays
36:22for three days just because of this kind of event.
36:26Because in other countries, ASEAN is a normal event.
36:30They host a lot of international events.
36:33They adapted it already.
36:36The environment adapts to this kind of situation.
36:40Here, we look at as if every three years or six years that we have this kind of special event.
36:46And all of a sudden, we feel so proud and try to brag about it at the expense of the
36:53business.
36:55Sige.
36:56Now, speaking of the business, Kanina is the possible industries or domains that can thrive.
37:04And sadly, there's not much.
37:08How about on the flip side, the industries you think are in serious risk if this situation will continue?
37:21I would say right now that the micro, the micro-small will be first to be affected and how they
37:34will survive.
37:37This is a scenario we call cleansing.
37:41Every kind of situation like this will call for a cleansing.
37:48So we separate the boys from the men.
37:51So sad to say.
37:53So the boys are usually the micro-small.
37:56The men are those that are medium to the large companies.
38:00They can take care of themselves.
38:02But no specific industry.
38:05But I will tell you, at the end of the day, it's how you sustain financially that will make a
38:11difference.
38:11If you have not done some savings and you have lived with credit, meaning borrowed money, borrowed times, and borrowed
38:24everything, this is a dangerous situation.
38:27So if you're not very exposed, maybe it's right time to sit down with government.
38:34And I think they're saying that they have some funds to support the micro-small.
38:44But the question is, again, you have to undergo all the process.
38:49By the time the fund may come in, you might be dead already.
38:53So it's like, you know, it's so slow.
38:57So slow.
38:59Now in the report also that I saw, there's also a mention of possible hiring freeze.
39:05Although you've also talked a bit of that already in terms of unemployment or underemployment.
39:12At this point, should young professionals, should they be worried?
39:19Well, young professionals right now, I don't know whether they really know what is happening or not.
39:28Because most young professionals right now, they're still very happy.
39:34They don't seem to care if, you know, maybe they have a family that can feed them three meals a
39:41day.
39:41But maybe to those that I would see a bad situation would be the farmers in the province.
39:50So if farming would be a problem, and before, how many years ago, people asked me, what should we do,
40:00Philip, to make this country great again?
40:02And I said, let's start food security.
40:06But I don't see the food security that is, although it is funded and all these things and that, but
40:14you can see that it has never been secured.
40:18But the food is always there, importation, but it has never been secured internally.
40:24It is always have been about importation.
40:28And of course, DA will always complain that it is God that has put this together because...
40:36There's a weather phenomenon also, no?
40:39Yeah.
40:40So they are prepared already of using God as a reason for everything.
40:44So I said, God, what is this all about?
40:46See, so maybe, I don't know, but it's getting very confused.
40:51Now that you're saying that there's a thought also that entered into my mind, my wish list, and correct me
41:02if I'm wrong, you can comment, is if during the pandemic, there was at least a significant improvement on connectivity.
41:10Although there's also, unfortunately, after the pandemic, it seemed like it's also just on plateau.
41:20It did not grow significantly in as much as during the pandemic.
41:24Like, my other wish list is, in a time like this, I hope the same way that we improved with
41:33connectivity, in a time like this, I hope that's also the speed that we will be getting at on food
41:40security.
41:41You know, like local food security, although I'm not seeing a lot of that still at this time, but this
41:51would have been the time that will push us to do it.
41:57If you study Japan, Hong Kong, Taiwan, or China, or Vietnam, stability of a nation starts with food.
42:15Even before China went into industrialization, number one was food.
42:20For 20 years, they closed up and said, we'll start with food production and everything.
42:25Then after that, everything follows.
42:28And 20 years after Deng Xiaoping's time, he opened up, and that is where industrialization came in.
42:34But the food security is already there.
42:37Secured already.
42:38Secured already.
42:39Even Taiwan, even Japan, the farmers in other countries are rich people.
42:45But in our country, they're poor people.
42:49So the question there is, who is abusing our farmers?
42:55See?
42:56So with all the billions in budget, but yet the farmers are still very thin and hungry.
43:02So what is it all about?
43:04And the other observation also that these people in my circle have seen is because being a farmer is such
43:16a dire situation to be in,
43:19less and less people or children of farmers would also still want to be a farmer.
43:25But we are so much affected with technology already that the social media has not given also importance about food
43:37security.
43:37We are so engrossed with BPO.
43:40We are engrossed with this and that.
43:42And thinking that the food will just grow in itself.
43:47But you have to plant before you can harvest.
43:52Then, of course, farming, you have to be religious in a way.
43:58Because why?
43:59If you do farming and you're not religious, one typhoon, you're done already.
44:03So maybe you have to be religious all the time and say,
44:06Lord, please protect my crops and all these things and that.
44:10So a farmer has to be religious in a way for them to be protected.
44:14I thought you meant diligent, but really religious, literally, yeah.
44:19I thought diligent, but religious.
44:21I don't know.
44:21Okay.
44:22This is just part of it because you cannot control nature.
44:26Correct.
44:26So only God can control nature.
44:28So as a farmer, you cannot control nature, but you can petition the Lord.
44:33Okay?
44:33So that's a part of being a religious person also.
44:36Spiritual in sense.
44:37That's true.
44:38Now let's sink a little deeper and then we'll go up.
44:42We'll do our best to end going up, no?
44:45Let's talk also about OFWs.
44:50In a time like this, although it's still not showing pa, no?
44:54In a time like this, this also can translate to lower remittances eventually, no?
45:01And displaced OFWs because times are hard, not just in the Philippines, but also outside the Philippines.
45:08What happens also to the country?
45:11And the perspective, this is not about message of doom, no?
45:15But at least we can at least prepare, no?
45:18Because this is a time in which we say we prepare for the worst while we pray for the best,
45:23no?
45:25Well, OFW, most Filipinos, they are somehow frustrated with our own country.
45:35So I work with schools on an OGT program.
45:39So when they finish their training with me, then they work for as a requirement for at least how many
45:48years experience.
45:49Then after that, they go abroad.
45:51And I see the sacrifice also when they leave the family and all these things and that.
45:57Because being an OFW is not all the promise in the world.
46:02So a lot of families that go abroad are not perfect also.
46:07They have their own problems within.
46:11Now, while the government per se is, they are what I call, they are the savior of this country because
46:19that is our number one export.
46:21So they bring in the dollars without shipping anything except the body and soul of the OFW abroad.
46:28So sad to say, but yes, OFW will always survive on their own because if they come back, there's nothing
46:40also here.
46:41And they're used to that kind of life wherein everything is measured in output.
46:48So here is always measured in terms of ayuda.
46:54And this is the first time I'm saying this on air, but at least when I used to travel a
47:03lot, one of the things that profound impact to me is when I would be in airports,
47:14there seems to be an air of sadness when there are lots of OFWs in the airport.
47:22And that was to me, because I, this was, I first felt this when I was traveling in my 20s.
47:30And at that time, I really thought that OFWs, they're having the best time of their lives.
47:36They're earning good money.
47:37And it was a surprise to me when I began traveling and why is there a persistent sadness that I
47:44could sense when there are a lot of OFWs in the airport.
47:48And that's how I began to realize that, no, this is not the easy life I thought it was.
47:54Maybe the first time of being OFW, there's always a fear of being successful, whether you can make it, and
48:05the adjustment of, you know, for two years that you're far with your family and your love life and everything.
48:16But when the second, the third, then you get to adjust, and the happy time comes in when you go
48:23home, see the family, and the sadness comes in also when you have to leave for another two years and
48:29all these things.
48:29But money erases everything.
48:32When there is money, whatever sadness disappears if the money comes in.
48:36Okay, so, well, in a way, we see personally that every OFW is a sacrifice for their family.
48:47So, in a way, we just hope that every OFW can have the kind of life that he would like
48:56to achieve when they grow older.
48:58Because remember that there's no retirement except for SSS if you continue to pay, but other than that, you have
49:09to do savings.
49:10If you do not do savings, then sayang the opportunities that you have.
49:14So now we're on the tail end of the conversation, and I'm hoping that we can end positively.
49:23This is our first attempt.
49:26What lessons should business and leaders and ordinary Filipinos can learn from this period?
49:36And the intent is, of course, we become better leaders, better entrepreneurs, or better Filipinos.
49:43Well, I think this would be best if we learn the things during the hardship.
49:55I started around micro, but my father always tells me that you have to be well-educated to grow in
50:06business.
50:08And by the way, why don't you tell them how you started?
50:10Well, I started filling up gasoline, so I know the fuel business.
50:15I was working for a gasoline station, one of my relatives, then I grew to the ranks.
50:21Then finished my degree in San Carlos as a marketing guy.
50:24I can sell refrigerators to Eskimos.
50:27That's the talent that I, the gift of tang, all these things and that.
50:31Then, of course, I started going into engineering, but I'm not an engineer, but, you know, God is good.
50:40You're given a mindset of your own, and it's up to you to grow.
50:44And I became very good at systems.
50:47So, when I started to look at how systems work, from standards, ISO standards and everything, technology standards and everything,
50:58it engrossed in my mind that the only way to grow right now is your mind has to grow with
51:04it.
51:04So, if you're not, if you're just contented with what you're doing for the past five years,
51:10and you're not growing, meaning business is not for you, okay?
51:16But if you're also growing on your own, and you've seen how others are, you have to learn from other
51:24people also.
51:25You cannot say, I've been doing this, and I'm good at it already.
51:28No.
51:29You start comparing, and you benchmark with people and say, you know, his system is better than mine.
51:34Maybe where did I leave behind?
51:36Then work on it.
51:39Then start learning, learning, learning.
51:42Never stop learning.
51:43Even at my age, I'm almost 70, but I still learn.
51:46I learn from a lot of people.
51:48I speak with different kinds of people, younger ones, older than me, or whatever.
51:54Then we sit down.
51:55And sharing from each everyone, and you learn from other people's success and failures also.
52:02And thank you for also pointing out the importance of learning, because while you were saying that, before my last
52:09question, there's also an observation now that the good thing about the current generation is because they have access to
52:18so much information compared to the past generation.
52:22And I think what this generation just needs to harness is to be able to discern the right content to
52:33consume.
52:34Because there's also a possibility that they're always on their phones, scrolling up and down, but how helpful are these
52:42kind of content in terms of their learning and growth?
52:46That's one.
52:48That's one.
52:48The other side also, I also find myself, at least if my colleagues, the employees in the office are watching,
52:57I always tell them also about continual learning.
53:00Gone were the days that once you finish a degree, you're set to life because the world is also changing.
53:07So our degree is only relevant up to the next three years or the next five years.
53:11But beyond that, there's got to be something that we learned after graduation to carry us through the next six
53:18and up.
53:19So I'm glad that you mentioned also, yeah, continual learning.
53:23You know, we have to be visionary if you cannot create your own vision.
53:29And that's why I was given a title of a doctor in technology management by CTU because of what I
53:39have been doing in the technology and how I help also the schools transform the thinking.
53:47You know, because the number one issue of this kind of situation is once you get to be contented, you're
53:56finished.
53:58So I know your colleagues in Juan, I always tell my, even my own employees, I don't expect you to
54:05die for me.
54:08And I, you don't die for me and I will not die for you.
54:11So meaning we coexist for a reason.
54:14To the day that you want to grow on your own, go ahead.
54:19See?
54:20So when I started as a working student, filling up that gasoline, I will never forget.
54:26And today, what I am right now, I always enjoy my past of the sacrifices that I had as a
54:33best teacher of what I am right now.
54:35See?
54:36So there's no shame in having reached these things through sacrifice.
54:41And all the pains and sorrows are part of it.
54:44So, DJ Moises, I can share to you that, you know, God is good.
54:52I have always been appreciative of the Lord.
54:55And, you know, God has blessed me.
54:58And I have worked for it also.
55:01It was never given for free.
55:03So it's up to us.
55:05At the end of the day, your life is yours.
55:08Not to anyone else.
55:09Maybe the government can make it easier for us.
55:12But if you trust them all the time, I don't think that would be also good.
55:17So create your own world.
55:19Create your own vision that you someday will be able to succeed also.
55:24And now, my last question is, if we then move fast forward, let's say, 10 years na lang.
55:32I wanted to say 20 or 15, but it looks very far already, given how things are going.
55:3810 years.
55:39Sige, 15 years from now.
55:41And then we will look back to 2026.
55:46What do you wish people, or what do you wish or hope, not what they will?
55:52What do you hope that people will remember about leadership in this country?
55:59Hope, no, not they will.
56:02Grape ang distinction.
56:05You know, if we have a leader like Lee Kuan Yeo in our country, who is true enough to really
56:18die for the country, and who is willing to make that sacrifice for the country,
56:22I don't find any reason why our country will not be great.
56:28It's just that the whole problem starts with that electorate that elects the politicians in government.
56:37So the blame starts on that first entry level already during the election.
56:43And I always tell my people, I said, you know what, whatever sacrifices that we have right now, don't look
56:50at me.
56:50Look at yourself, because these are the people that you have elected in government, and right now you are complaining.
56:59See?
57:00So, it's a mirror of your own choice.
57:05So what we have right now is the choice that we made.
57:10So, there's no God-given reason here except ourselves.
57:15So, I hope that that can also translate that let's have the right people in government.
57:22Okay?
57:23Then, this country will become great again.
57:27Also, as I've said, we also have to make our counterpart.
57:32Pay the right taxes.
57:33Okay?
57:34So, as a businessman, paying the right taxes.
57:40Just because government is corrupt does not mean that you have to steal money also.
57:45Good point.
57:46Okay?
57:46So, I pay my taxes.
57:48If the government steals it, it's up to him and the Creator.
57:54But I can be saying that I have done my part as an ordinary Philippe.
57:59My parents came from China way back in 1948.
58:03I'm a pure-blooded Filipino.
58:05Made in China, assembled in the Philippines.
58:08And I am very proud of it that I am a Filipino.
58:11And I will die for this country.
58:13Thank you very much for your time today and your insights and your perspective of what the everyday numbers that
58:23we see will impact everyday Cebuanos and everyday Filipinos.
58:29So, economic slowdowns are not only measured in percentages.
58:34They are felt in rising prices, delayed opportunities, careful spending, and the quiet sacrifices people make everyday for those they
58:45love.
58:46That is why conversations about the economy are ultimately conversations about people.
58:52Thank you for being with us today.
58:54I'm DJ Moises.
58:55This is Beyond the Headlines.
58:57Have a good afternoon.
58:58We'll see you next time.
59:28Bye.
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