Limiting Market Competition: What the Competition Act does not say or cover
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This document summarizes the Philippines' performance in the 2016 Global Competitiveness Index report. It notes that the Philippines scored very low in goods market efficiency and labor market efficiency. It also shows where Singapore, Japan, Hong Kong, Taiwan, and other Asian countries ranked compared to the Philippines in terms of efficiency enhancers. The document asserts that there is an equal and opposite distortion for every government intervention, and that governments should focus on reducing bureaucracy, taxes, fees, and regulations instead of expanding or subsidizing activities in order to improve market efficiency and competition.
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This document summarizes the economic programs and policies of Philippine presidents from Manuel Roxas to Benigno Aquino III. It outlines the rehabilitation efforts under Roxas after WWII, the import substitution strategy under Quirino to develop local industries, the land reform acts under Magsaysay and Macapagal to assist farmers, and the various socioeconomic programs pursued by subsequent presidents like Ramos, Estrada, Arroyo, and Aquino to promote development, generate revenues, and improve people's welfare. It also provides pointers for reviewing key economic concepts, thinkers, resources, and the history of the Philippine economy.
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The document summarizes a forum on federalism in the Philippines that included presentations from various experts. Some key points discussed include:
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1) The document discusses responsible mining and the role of open pit mines. Several proposed and upcoming mining projects in the Philippines will use open pit extraction methods.
2) Open pit mines can later be rehabilitated and reforested, or left as man-made lakes to create economic opportunities for fishing, water sports, irrigation, and hydropower.
3) The document argues mining taxation in the Philippines is already high, providing more than six times the average taxes per hectare of land nationally. It cautions that any tax increases should be balanced by cuts to other mining fees and regulations.
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The document summarizes the key points made by Bienvenido S. Oplas Jr. during a roundtable discussion on energizing economic growth in the Philippines. Some of the main ideas expressed include:
- The Philippines already has a high share of renewable energy at 33% of installed capacity, but ranks poorly in terms of energy affordability.
- Reliable baseload power from dispatchable sources is needed to sustain fast economic growth and ensure electricity is available when consumers need it.
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The document summarizes reactions to presentations at the Mining Philippines 2018 conference on roadmaps for mining industry development, the potential "resource curse", and the impacts of federalism on natural resource extraction. Key points include:
- The roadmap presented good initiatives but many government agencies create hurdles for mining; an alternative is for government to step back from the mining road.
- Having natural resources is not inherently a curse; lack of rule of law is a bigger problem for development than adding more government bureaucracies through federalism.
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2) Many countries are trending towards lower personal income tax rates to provide higher take-home pay and boost domestic consumption.
3) The Philippines already has high taxes in other areas like the highest VAT in ASEAN and among the highest dividend and interest withholding taxes.
4) A federalist system could reduce national taxes and assign more revenue raising powers to state/regional governments to fund local infrastructure projects through their own tax systems.
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- Income tax rates were reduced overall by the TRAIN law but remain relatively high in the Philippines compared to neighboring countries.
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- The TRAIN law could have done more to lower the VAT rate and reduce exemptions to raise revenues, rather than increasing personal income tax rates.
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2) While infrastructure spending under Duterte's "build-build-build" plan may spur growth in the short-term, the administration plans to fund this through large budget deficits and tax increases, threatening long-term fiscal sustainability.
3) The Philippines' strong economic growth in Duterte's first year is partly due to momentum from the previous administration, and growth is projected to slow going forward as this effect dissipates and policy uncertainties increase under Duterte's populism and erosion of
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- The Philippines already has a high share of renewable energy at 33% of installed capacity, but ranks poorly in terms of energy affordability.
- Reliable baseload power from dispatchable sources is needed to sustain fast economic growth and ensure electricity is available when consumers need it.
- Solar and wind are intermittent sources that are unstable and unreliable, especially at night when demand is high.
- Germany's experience shifting to more solar and wind has increased dependence on fossil fuels and doubled
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Government often expands through distorted energy, infrastructure, and fiscal policies according to the author. Specifically:
1) Climate change alarmism is used to expand government programs promoting renewable energy, but the science does not support claims of an unprecedented crisis requiring action.
2) Large infrastructure projects are increasingly financed through foreign loans instead of public-private partnerships, increasing public debt.
3) Budget deficits are growing under the current administration's plans, meaning more public borrowing and future tax increases to repay loans.
The author argues this expansion of government through distorted policies does more harm than good.
Travel under budget constraints
The document discusses tourism statistics and travel tips. It notes that Singapore, Malaysia, Hong Kong, and Thailand received significantly more tourist arrivals and receipts than the Philippines in 2015. It also lists the top countries of origin for tourists to the Philippines in 2015. The document then provides tips for planning trips, budgeting, documenting travels, and cutting costs. These include considering destinations and activities, season, transportation options like RORO buses, multi-destination trips, and using a blog to document travels. Information on a cheap trip to Nepal and details on visiting Bhutan are also included.
Beyond GDP, Contribution of Mining
Some macroeconomic and taxation data on large-scale mining, debunking also certain myths about the sector.
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Electricity deregulation and re-regulations in Asia, Philippines in particularBienvenido "Nonoy" Oplas, Jr.
1. The document discusses electricity supply, demand, and prices in Asia and other regions from 1985-2015. Developing countries like China, India, and Indonesia saw much higher growth compared to developed countries.
2. Electricity prices generally declined in deregulated markets but results were mixed in subsidized markets. The Philippines previously had the 2nd highest electricity prices in Asia.
3. The electricity industry in the Philippines faces heavy regulations and bureaucracy, including nearly 160 permits needed to build a power plant. Re-regulations promoting renewables aim to "save the planet" but climate change is a natural phenomenon, not man-made.
4. The document argues that climate alarmism is about expanding governments andMore from Bienvenido "Nonoy" Oplas, Jr. (20)
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In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
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Limiting Market Competition: What the Competition Act does not say or cover
- 1. Bienvenido S. Oplas, Jr. Minimal Government Thinkers, SEANET ALB Competition Forum Dusit Thani Hotel, Makati 15 November 2016
- 2. PH performance 2016 Report: Very low in Goods market efficiency and Labor market efficiency
- 3. Overall GCI Efficiency Enhancers 2016 2015 2016 2015 Singapore 2nd (5.81) 2nd (5.68) 2nd (5.73) Japan 8th (5.48) 6th (5.47) 10th (5.37) Hong Kong 9th (5.48) 7th (5.46) 4th (5.58) Taiwan 14th (5.28) 15th (5.28) 16th (5.20) Malaysia 25th (5.16) 18th (5.23) 24th (4.96) S. Korea 26th (5.03) 26th (5.99) 26th (4.88) China 28th (4.95) 28th (4.89) 30th (4.79) Thailand 34th (4.64) 32nd (4.64) 37th (4.56) Indonesia 41st (4.52) 37th (4.52) 49th (4.38) Philippines 57th (4.36) 47th (4.39) 58th (4.24) Vietnam 60th (4.31) 56th (4.30) 65th (4.15)
- 4. Source: Andre Palacios, Presentation at the PH Economic Society (PES) Conference, Nov. 8, 2016 Multi-agency creators of monopoly or oligopoly structure, and they are outside the scope of the PH Competition Commission (PCC).
- 5. Tricycle route monopoly: set by LGUs Jeepney route monopoly: set by LTFRB Inter-island shipping monopoly or duopoly: set by MARINA
- 6. Social application: For every government intervention, there is an equal opposite distortion.
- 9. 1. Very often, the purpose of government is to expand government. 2. Newton’s 3rd law of motion revised: For every govt intervention, there is an equal opposite distortion. 3. Improve market efficiency and competition not so much what govt. should do/subsidize but rather, what govt. should NOT do Less bureaucracies, taxes, fees, regulations, prohibitions. 4. Not so much good governance of BIG government but less governance. 5. Heed Adam Smith’s ‘invisible hands’ of the market, not Keynes’ ‘grabbing hands’ of the state.