- News in Photo
The Kalipunan ng Damayang Mahihirap (Kadamay) and other cause-oriented groups yesterday staged a rally in front of the United States Embassy to demand the pullout of American troops in the country.
Aside from the withdrawal of American troops in local shores, Kadamay also demanded that unfair treaties signed with the US like the Visiting Forces Agreement (VFA) and Enhanced Defense Cooperation Agreement (EDCA) be scrapped.
“Poor Filipinos have the most to gain if the US dominion over the country is dismantled. President Duterte has cited the many war crimes committed by the US in the past. However, it is important to also explain that US stranglehold has led to increases, backward economic policy, larger debt and joblessness,”said Kadamay chairperson
Gloria “Ka Bea” Arellano.
The Philippine economy has remained largely dependent on the US.
Foreign Direct Investments (FDIs) from 1999-2012 from the US were the largest, accounting for 19.8 percent of the total.
FDIs also grew by 94.9 percent this year, bulk of it coming from the US.
“This trend does not work for the genuine economic interest of the Philippines since these FDIs are funneled mainly to real estate speculation, construction and service industries that do not produce capital goods. Little, if ever, is placed on industrial production and other sectors that generate employment in the long run,” Arellano added.
“Their free trade and neo-liberal framework have also become the doctrine in the housing sector, with private companies seeking higher profit from the urban poor.” (CHITO CHAVEZ)