Where does all the money go? (Part 2)

Amid the economic crisis affecting capitalist nation like US and European countries, China's economy is soaring. As a proof, Senator Chiz Escudero said in an interview that US President Barack Obama sought the advice of China's Premier Wen Jiabao about the economy. Escudero attended the World Economic Forum in Dalian City in China and Premier Wen mentioned in his speech that indeed Obama asked for advice. The advice given was "open your economy to Chinese entrepreneurs."

We can't deny that fact as everywhere China products proliferate, from clothing, food, electronics, and whatever you can think of.  I remember one joke of Russel Peter about the Indians, Chinese and Jews. He said that if Louie Vuitton (did I spell it correctly?) store is on sale Indian people will go inside the store and just look around. Jews won't even bother to have a look at on sale items knowing LV is pricey. Chinese will surely go inside the store and when the sales clerks aren't looking they will take snaps of the items and send the designs to China for reproduction. Chinese create a cheaper LV or imitations. Philippines is a market of these cheap imitations and other Asian countries.

I read an article last week about an American journalist who wanted to experiment if her family can survive without using/eating China made products. She said that she has to travel far just to find things that aren't imported from China. She found it expensive if items were not produced from China.

I remember that some Filipinos suggested we boycott China products during the heated debate on Spratly islands. But based from the chronicles of the American journalist it is tough to boycott China products. However, there is a positive side to Philippine economy if we do this. We will be patronizing our own products. With the open trade policy in the Philippines, small entrepreneurs are competing head on with China imports (which are most of the time cheaper).

Enough on the talk about economy. Typhoon Pedring is lashing out its fury outside my window. Some areas in   Dagupan City were flooded. But am grateful that Pedring isn't as stronger as Typhoon Ondoy.  Pedring is on its way out of the country and heading Cambodia.