Why China is the next capital of capitalism

The business Spy-Ring reported that the Philippines-China Business Council – headed by the newly designated special envoy to China Jose "Joey" Antonio – has powerhouse members with the likes of Shoemart’s Henry "Big Boy" Sy Jr. and Asian Spirit’s chairman Noel Oñate. They believe the country’s economy is tied in with China’s because it is our biggest neighbor. The council is forging plans for more trade between the two countries. In true Asian Spirit, the airline is reportedly going to fly missionary routes to Southern China. Oñate added that just getting five percent of the expected 100-milllion Chinese tourists is more than enough to help in the tourism industry. "Big Boy" Sy said the true situation in the country isn’t really what is being reported by foreign correspondents. He said that there are more people in the SM malls than in the rallies at any given day. The irony of it all is there are more red flags waving in the rallies than in China itself. This is why China is getting more investments and is poised to be the next Asian capital of capitalism.

Breaking news

Spybiz informants broke the news that a hard-hitting magazine is allegedly in the red. Sources said the magazine’s money woes can be partly blamed on the top-heavy composition of its editorial board and consultants, some of whom reportedly get as much as P100,000 a month just for having their acclaimed names on the staff box. Plus, of course, the dearth of advertisers who could not muster enough enthusiasm to place their ads in a magazine that might just likely hit them with a negative write-up later, the sources said.

School trafficking

Traffic must be so bad that lawmakers are now pushing for a bill to include traffic education in the school curriculum. Alarmed by an Asian Development Bank study showing that economic growth is being derailed by the growing number of motor vehicle traffic-related deaths and injuries, Catanduanes Congressman Joseph Santiago is pushing for legislation that would require the teaching of road safety rules to elementary and high school students. Citing the ADB study saying that annual economic output could grow by 2.3 percent more if not for the 9,000 deaths and 493,970 injuries attributed to road accidents, Santiago said House Bill 2590 would enable the Department of Basic Education to coordinate with the Land Transportation Office in the instruction and training of both public and private school teachers. Describing traffic accidents, including those caused by reckless motorists and undisciplined pedestrians as a growing menace to public society, the solon expressed confidence that the integration of traffic education in the basic school program would build up personal discipline and reinforce sound values among Filipinos as drivers, pedestrians and commuters at an early age. According to statistics from the Police Traffic management Group, nearly half of the 17,000 traffic accidents reported each year are classified as fatal. A previous Department of Transportation and Communications study also revealed that the country has been incurring up to P140 billion in direct and indirect economic losses each year due to traffic congestion. The losses include lost productivity, wasted fuel, the payroll for traffic aides and spent electricity.

Spy tidbiz: Makati Business Club takes on the media

ABS-CBN TV news reporter Paul Henson was reportedly banned by Makati Business Club Executive Director Bill Luz from covering a forum with BSP Governor Tetangco as guest. Shortly after the July 8 black Friday, ABS-CBN reported that Makati Business Club members were divided over the issuance of the manifesto asking GMA to resign. It seems the elite Club has decided to take on not only the President of the Philippines but also the media. Bill Luz should be well advised to remember the word "hubris" — the arrogance of power before its fall.

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