Usec Panlillo critical of current status of EU and US economy

Auditorium, APS Building, Rockwell Ctr, Makati City PHL | March 13, 2013

In his talk before AGSB graduate students, former USec Panlillo of DTI and BOI (he resigned earlier because of self imposed 2 year term in government service), mentioned that a sustainable development leads to the absorptive capacity of the government to provide for services to its constituents.  It must come first.

The occasion was the AGSB Opeman forum on "Revival of Manufacturing" in the PHL

He mentions the aberrations in many EU countries which provided social services to its people, beyond its absorptive capacity using borrowed money.  Now, these countries, failing to pay its debts are suffering.

He also critical of the current state of US economy.  Its debt is too huge to service anymore;   however US is lucky that it enjoys the psychological advantage of being the biggest economy and susperpower.

(However, elsewhere in my other ProfJorge Entrep sites, many Americans are wary of the huge debt:  the fiscal cliff etc.)

Thus we should be aware:

1.  NGOs would find difficulties if they depend on US or EU aid to run their programs

2,  Be wary of EU or US currency denominated investments.

The place to go and invest would be the emerging economies like PHL, BRIC (it has lost its steam?)