Not all bro most of the industrialist here are Hua Qiao, the Taipans like Lucio Tan, Gokongwei and Ramon Ang. The problem is that the oligarch gentry wouldn't let go of their land for National development, they rather sit idle, speculate and see the value of their land rise, a rent seeker mentality. We import most of our food with a huge rural unemployment cause they have no land to farm, a major source of recruitment for the NPA.My biggest pet peeve with SEA in general is that the entrepreneur there (ethnic Chinese or not) always choose the route to easy money ie. real estate, tourism, food, etc. They don't bother to go into advanced manufacturing or anything high-tech. In fact, in general they are just contend with the small market they have and don't even try to expand overseas. And when they have enough capital they put them in Europe or US with frivious investments.
With land you gain political power, with it you can legislate law favorable to you, like selling public utilities like power and water for a song and charge the public premium. With high power and water rates essential for industry, we lost our competitive advantage cause manpower alone can't compensate for the cost. So what's the alternative? export our excess manpower as OFW and let the employer country develop instead of us.
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