Month: June 2019

The State shall protect the nation’s marine wealth in its archipelagic waters, territorial sea and exclusive economic zone, and reserve its use and enjoyment exclusively to Filipino citizens.” That’s how direct and clear the mandate on the government is under Section 2 of Article XII (National Economy and Patrimony) of the 1987 Philippine Constitution. It…

“Socialism with Chinese characteristics” is how the rulers of China describe their economic system. But most economists say it isn’t so much socialist as state capitalist. State capitalism is an economic system in which government bureaucrats control and regulate state-owned corporations. Some 85% of Chinese enterprises are state-owned. Although there are private companies, they are…