EDITORIAL - Ring in the new

Economic analysts are one in warning that if 2008 was bad, 2009 is going to be worse. And the burden will be heaviest on those who ignore the warnings.

Even before the US credit crunch, the Philippines was already lagging far behind most of its neighbors in terms of foreign direct investments, tourism receipts, per capita income and most human development indicators. The benefits of growth, as the nation’s economic managers themselves admit, are not trickling down to the grassroots.

The nation can cope better with rising unemployment and slower growth in 2009 by improving governance and strengthening the institutions that are indispensable for survival and competition in a global economy. The global recession cannot last indefinitely. In the race toward recovery, nations that have neglected their competitiveness will find themselves at the bottom of the global heap, their masses mired in poverty.

Improving competitiveness must include putting an end to corruption, which undermines the delivery of basic services and hampers every development effort. It means giving more focus to improving the quality of public education and health services. It means stopping the resurgence of crony capitalism and leveling the playing field for all investors. It means respecting civil liberties, upholding the rule of law and guaranteeing the independence of the judiciary.

The New Year will see the unofficial start of the campaign for 2010. Filipinos are pinning their hopes for change in the general elections. Every effort must be made, in the little time that is left, to ensure that the elections will not be marred again by a vote-rigging scandal that will put presidential legitimacy under a cloud of doubt. Elections must be truly representative of the will of the people, which means putting an end to the culture of guns, goons and gold.

In a year that is expected to be a particularly difficult one, the nation cannot afford to go on with business as usual. May 2009 be a year of positive change that will bring joy and prosperity for the nation. A happy New Year to all!