Life has been hectic for me since the holidays, which was the main reason why I wasn’t able to push through with my writing project. It was a great idea though and I am thinking of doing it still when I get some time off from school. Back in the university, most professors talk about the global financial crisis that the world is experiencing today. This past week, our country has started to feel the effects of the decrease in economic activity in terms of exports. Many Filipinos know that a large sector of our workforce are in the electronics and microchips industry.
On my daily commute, I pass by some big industrial parks in Batangas and Laguna which houses some of the companies that service the electronics industry. Each day, I encounter hoards of people coming and going to these industrial parks to work and earn a living. We have relatives and neighbors who work in these companies and they feel scared because they know that companies are forced to either lay-off people because the demand for their products has really slowed down.

I read lots of articles and even hear some people in the news say that we are not affected at all by the financial crisis that is ongoing. With news of companies laying people off, I don’t think we are not affected at all. When demands for products around the world go down, demand for parts go down to. We all know that many companies outsource here in the country for manufacturing and it would seem rational to say that if they don’t sell their inventories, they wont need more parts from us. Thus companies downsize and lay-off employees to be able to continue existing. We cannot fool ourselves forever saying that we are not affected because we are. We have been barely able to alleviate poverty back when the global financial crisis was nonexistent, how can we alleviate it now when even more people are unemployed?

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