Archive for July 2010

GULF STATES: ENFORCERS OF OLIGARCHIC ‘CLASH OF CIVILIZATION’ MADNESS

July 31, 2010

Erle Frayne D. Argonza

Magandang gabi! Good evening!

Dusk is the mark of the day as I write this note. I wish to continue writing on the theme of Arab gulf states—whether they’re Asian or not. It seems that the ‘twilight of the gods’ scenario has been engulfing the gulf states altogether, a sort of reprieve prior to Armageddon.

For this piece, I’d focus on the observation that the Arab gulf states are the enforcers of the Anglo-European oligarchy’s ‘clash of civilizations’ madness. There has been so much military build-up in the gulf states lately, proof of a preparation for a larger conflagration. (The expenditure level measures by the hundreds of billions of dollars, with KSA leading the hemorrhage of military hardware buying spree.)

East Asia, as we can see, has been operating on the modality of a ‘dialogue of cultures’ expressed as economic, political, and cultural cooperation. The entire region has been the growth driver of the global economy for some time now, and will perform such an optimizer role in the foreseeable future.

Such a trend, however, does not characterize the gulf states. Already filthy rich with their petrodollars, they nonetheless aren’t progenitors of growth driving for the global economy. They grow for the sake of sustaining their own development gains and prepare themselves for the eventual drying up of the oil wells.

Gulf economies’ billionaire are deeply encumbered to the financier operations of the Anglo-European oligarchs who have been using the former as their dummies and/or junior partners. There is hardly any big commercial and industrial concern in the gulf states today that are not immersed in the investment interests of the likes of George Soros & cronies who represent the Who Is Who in the West.

Arab sheikhs style themselves in fact as Western-honed leaders who are no different from their Western counterparts. The difference lies only in the sheikhs’ profession of Islam, an ultra-conservatism that the West allowed to thrive to render the sheikhdoms as buffer regions versus pan-Arab nationalism or pan-Arabism of the Iraq, Syria, Lybia, and Nasserite Egypt.

Pan-Arabism is now rapidly decaying, and so the polarity game has shifted to Shiite Islam as the key enemy in lieu of the former. The Arab kings and sheikhs are surely having a great time nurturing hatreds versus the ayatollahs of Persia whom they demonize with deep disdain.

Back home, the sheikhdoms have to neutralize their homegrown jihadist movements led by the Al Qaida. While the home enemy grows in size and intensity of terror, tension grows as the sheikhs can’t help on anticipating the attacks by the revolutionary guards of Persia, attacks that may be accompanied by limited nuclear weaponry.

The situation in the gulf region had pushed the sheikhs into a toxic alliance with the Zionists who are the other leg in the beachhead of the Anglo-European oligarchy in regaining control of the entire Western Asia. A loose Zionist-Sunni (gulf states’ ecclesial religion) alliance has been in formation since couples of years back yet, to recall.

In my own analysis, it is now too late to see the possibility of the sheikhs dis-engaging from their active participation in the polarity game of the West’s oligarchy. The sheikhs and Arab billionaires are an organic part of that oligarchy while they feign difference via Sunni wahabism or equivalents. A superficial difference that is, to note.

The clock now ticks for the gulf states, an Armageddon clock that could unleash the forces of destruction in the region. And such a clock will continue to tick, unless a paradigm shift will be initiated by the sheikhs & Arab billionaires which is nauseatingly impossible an eventuality at this moment.

[Philippines, 22 July 2010]

[See: IKONOKLAST: http://erleargonza.blogspot.com,

UNLADTAU: https://unladtau.wordpress.com,

COSMICBUHAY: http://cosmicbuhay.blogspot.com,

BRIGHTWORLD: http://erlefraynebrightworld.wordpress.com, ARTBLOG: http://erleargonza.wordpress.com,

ARGONZAPOEM: http://argonzapoem.blogspot.com]

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ARAB GULF STATES: HOW ASIAN?

July 29, 2010

Erle Frayne D. Argonza

It’s now past 8 p.m. as I write this piece inside my studio apartment, and my writing is currently accompanied by chill music from Brazil. For this piece let me toss the query: how Asian could the Arab gulf states be?

To begin my reflections, let me share to you a portion of my family history. My mother, a dietician/health professional, decidedly joined the fray of the ‘gulf state fever’ in the early 80s by seeking work in Saudi Arabia’s hospitals. For four (4) years did she work in the kingdom that is so endeared to many overseas Filipinos like her, until she departed for a new destination (USA where she retired).

When she started working there, her purses began to balloon quickly just as Arabia’s oil pumps were gushing out colossal petrodollars like limitless boons from heaven. She gleefully told us of the fat overtime pays she and her staff received, thus enabling her to send us in the Philippines—then a depression-struck ‘sick man of Asia’—quanta of dinars to quaff our thirst for back-up money.

That was the trend, until around 1984 when patterns suddenly changed. Mother began to complain of working overtime with no extra (overtime) compensation, and until 1986 when she quit Arabia for America no more extra boons came via the overtime pay. Something awefully wrong was going on in the gulf states and not just in Saudi Arabia, this was for sure.

The gulf states as a whole comprised a region that was considerably a growth driver of the global economy for a time until approximately the mid-1980s. At that time, it had so much petrodollars stashed in Western banks and investment houses that it needed for its internal growth, but such growth was choked up by fluctuations in the oil demand globally.

Before long, Asia’s ‘dragons’ and ‘tiger economies’ caught up with the gulf states. As the former kept surging upwards, the latter fluctuated between stagnation and paltry growth. India and emerging markets of Asia were recently added to the list of growth drivers of the world, while the gulf states are mired in a rather delusional self-image of growth driver that is more a thing of the past.

The word ‘Asia’ today has become synonymous with ‘growth driver’. But let it be clarified that the gulf states just don’t fit well into this growth category. For sure, their diversification of dynamic sectors from oil to manufacturing, infrastructures and services have paid quite fatly for them but only for them and not for the planet as a whole.

The gulf states are now quite prepared for the eventuality of drying up of its oil reserves. They are likewise in sync with the rise of mega-cities that the dragons, tigers and emerging markets have began snowballing, capped by prestige projects of towering buildings notably the Taipei 101 and Petronas towers, with Burj Dubai leading the way for the former. But the same states’ return to the halcyon days of being a global driver is simply a thing of the past.

Dubai is a case in point of a mega-city that is too over-ambitious in its goal to become the financial center of Asia. It embarked on gigantic projects totaling past the $3 Trillion mark from circa 2005 through 2015, aimed at eventually shoring up its new image as a financial center. As the giant commercial complexes were done, the greater problem was who would be their end-users? Without end-users, no pay-ups for expenses used to fund the projects will accrue to the coffers.

Honestly, I will still need to be convinced that gulf states are truly Asian in their growth propulsion. I see more of the hands of Euro-oligarchs such as George Soros & cronies in building those gigantic projects there, with the Arab investors serving as mere junior partners if not dummies in a growth game with dubious motives.

Gulf states are playing the game of the ‘virtual economy’ or ‘casino economy’ and that is far from being Asian. In contrast, the dragons, tigers and emerging markets are engaged in the ‘real economy’ of manufacturing, infrastructures, agriculture, and transport industries, backed by solid science & technology innovations, rendering them the label of ‘truly’ Asian.

If there is any urgent message I’d send to the said Arab state, it is this one: dis-engage willfully from the encumbrances with Europe’s financier oligarchy, reverse ‘virtual economy’ policies, and move back to the ‘real economy’. With that probably and hopefully the same region will regain its former esteemed image as a growth driver of the global economy, a true Asian region indeed.

[Philippines, 21 July 2010]

[See: IKONOKLAST: http://erleargonza.blogspot.com,

UNLADTAU: https://unladtau.wordpress.com,

COSMICBUHAY: http://cosmicbuhay.blogspot.com,

BRIGHTWORLD: http://erlefraynebrightworld.wordpress.com, ARTBLOG: http://erleargonza.wordpress.com,

ARGONZAPOEM: http://argonzapoem.blogspot.com]

BRAZIL JETTISONS ECONOMICALLY: KUDOS, SUSTAIN & LEAD!

July 27, 2010

Erle Frayne D. Argonza

Brazil is now clearly leading the growth path of the entire South America, and this is a most welcome news. I am truly impressed by the developments down south that Brazil had led, and so I extend my kudos to the citizens and development stakeholders of Brazil.

Under the able stewardship of the very popular president Lula, the growth policies of the country were strengthened and sustained. The added feature is that, under a socialist regime, Brazil’s social policy had been further stressed and strengthened, with the hopeful gains of growth distributed more equitably to the poor folks of the cities and countrysides.

As we should all realize, South America isn’t exactly following a growth trend akin to East Asia’s. While Asia generally surges upwards, breathing new life to the global economy, that of South America’s could only count on specific countries (not general trend) jettisoning their ways further upwards. Brazil, Argentina, Chile are the most concrete success stories, while Mexico burns in the embers of an anti-drug war (Mexico sputters in its role as a growth driver).

Among all regions down south (America), it seems that the Brazil-Mercosur promises the greatest hope for the continent. It remains to be seen though how far this can be sustained. Contrast this to Asia, where three regions—Northeast Asia (China-Korea), Southeast Asia (ASEAN), and South Asia (India-led)—are acting as a grand chorale that enchants and enthralls the global economy as a whole.

Brazil, as an emerging market, clearly leads the pack in the whole of the continent, and being large enough by itself, it can jettison ahead and be the equivalent of China-India-ASEAN of the south. Its ‘real economy’ is the base of its growth that enables it to veer away from the anarchic and destructive ‘virtual economy’ policies up north (America).

Such an upward surge should move on till the aerospace program of Brazil will clearly be established as solid rock, thus ensuring the country’s entry as a top producer of affordable satellites for diverse end-users. It can go on and establish, in 25 years’ time, active metallurgical R&D in other planets such as Mars and Jupiter that can be alternative sources of metals for our own planet.

Also, Brazil better lead in creating a continental-looping railway that can accelerate development of the other regions, quicken the movement of skilled peoples and information across borders, and magnify continental trade by many folds. Likewise should Brazil lead in cyber-looping the continent with state-of-the-art infotech cables like what the East is now ambitiously embarking on.

Likewise should Brazil lead in massive energy investments, with clean technologies leading the way. Incidentally, biofuels and other clean energies are now surging upwards in the emerging market, with a policy environment in place that qualitatively is as sterling as East Asia’s (the Philippines has one such policy environment now well built up).

On the other hand, Brazil should better go slow in taming the Amazons with massive energy projects that could sadly kill the indigenous cultures that are among the country’s top endowments. Furthermore, in no way should the Amazon jungles’ diverse species be terminated for the sake of producing power, mineral resources, timber, and heavy industries for the country and its trading partners.

The world is watching Brazil mutate into a gigantic pillar of the global economy, we in Asia are surely watching with awe, and such a rise of a giant will ensure that the imperialist power up north will tone down its hegemonic attitudes towards the southern continent in the short run. The USA should better choose the path of cooperation with the south if it desires to remain relevant at all, as its own economy slides down a 3rd world level notwithstanding the continuous ‘virtual economy’ predation of its industries, agriculture, and infrastructures.

Surging upwards under a series of conscienticized and enlightened leaders, Brazil will continue to come on as sweet and enchanting as samba and bossa nova. To celebrate Brazil’s victories, we better chill out with Brazilian music & dance while we relish Brazilian cuisine in a spirit of peace and cooperation worldwide.

[Philippines, 21 July 2010]

[See: IKONOKLAST: http://erleargonza.blogspot.com,

UNLADTAU: https://unladtau.wordpress.com,

COSMICBUHAY: http://cosmicbuhay.blogspot.com,

BRIGHTWORLD: http://erlefraynebrightworld.wordpress.com, ARTBLOG: http://erleargonza.wordpress.com,

ARGONZAPOEM: http://argonzapoem.blogspot.com]

EUROPE & AMERICA ON DOWNWARD SLIDE TO 3RD WORLD ECONOMIES

July 24, 2010

Erle Frayne D. Argonza

Magandang gabi! Good evening!

It’s dusk time as I write, and this dusk at a time of intensifying monsoon rains seems to bode images of a grim future for the West at large. The European Union or EU members and the USA, the gigantic pillars of the global economy, are particularly in dire straits as they have entered the zone of flat growth and perpetual recession.

As already tackled by me in diverse articles, the East is surging forward bringing life to the global economy as a whole. In contrast, the West is spiraling downwards, and the strategies their stakeholders are putting into place to arrest the downslide are at best palliative. As the East continues to surge upward, the West continues to stagnate and decay.

After World War II, both Europe and America embarked on massive infrastructures and heated industrialization that saw both economies dominating the global economy’s wealth production. The result of that was an OECD producing 60% of Gross World Product or GWP for some decades (today that’s down to 40% of GWP and will still go down).

That was the situation back then. By the 1990s, the situation had been badly reversed as a result of liberal economic policies instituted in the previous decade (80s). The rise of a ‘virtual economy’ dominated by predatory finance was instrumental in the West’s massive de-industrialization, decay of relatively unattended infrastructures, decline in science & technology research, and neglect of the transport sector (only Japan & Germany were actively pursuing maglev railways).

By the early 1990s yet, certain experts among economists and sociologists in America began echoing alarming notes about the possible downslide of the USA into a 3rd world country should the economic decay, such as that of relatively unattended infrastructures,  be allowed to continue till past 2010s.

In the late 1990s, my own circle of political economists in Manila (Sunday Kapihan/Independent Review) saw such a possibility ourselves as we consolidated the data made available to us thanks to the internet. By 1998 all fellows of our circle were convinced of the catastrophic direction that the USA and Europe were plunging themselves into, which could begin with a depression past 2005 and a thirdworldization by 2010s (both have been hit by recession this decade as a matter of fact).

When Katrina struck the USA and when those floods struck Europe just a few years back, and the same free market policies stubbornly remained in place, I knew the downslide would turn out to be irreversible. The fate of New Orleans, with its residents lining up for food akin to a depressed city, revealed an appallingly decayed 3rd world city inside the USA which, to my mind, is but a fractional tip of a gigantic iceberg that are America’s decaying cities on the way to 3rd world infamy.

If, for instance, just about 55% of the top 700 cities of the USA will be so badly decayed by 2015 and be declared as 3rd world or ‘developing cities’, then we know more or less that America had catastrophically seen its worst state. With 97% of U.S. population living in cities (urban), likewise will the whole of the USA be declared as a ‘developing economy’ as early as 2015.

That is, again, if the destructive ‘virtual economy’ policies will not be taken down and reversed sweepingly. As I’ve declared in previous articles before (when Obama was still campaigning for the presidency), America must quickly return to a New Deal-type policy regime: interventionist, with great stress on revivifying infrastructures, revitalizing transport R&D (railways, shipping, etc), upscaling science & technology investments (including rockets), returning heavy industries (revive steel and many dead manufactures), and ensuring agricultural productivity.

Europe is not far behind such near-catastrophic downslide of the USA, just to remind our friends in Europe and the globe. Decisively institute interventionist policies in the continent, regulate the financial-banking sectors (criminalize predatory finance), and revivify social policy that were hallmarks of a once strong and mighty European economy.

And there’s no better time to act then now. Failure to act soon, by stubbornly instituting the palliatives (e.g. bailing out failing big banks, semi-regulating stock exchange), will be the best sure-fire formula to see a rapid thirdworldization of the West.

Before long, some messianic mad leaders in both continents would be drum-beating their being “stubbed behind the back” and generate  new Hitlers and Bonapartes in their backyards. Act now, Western peoples, to avoid this eventuality from ever taking place at all.

[Philippines, 21 July 2010]

[See: IKONOKLAST: http://erleargonza.blogspot.com,

UNLADTAU: https://unladtau.wordpress.com,

COSMICBUHAY: http://cosmicbuhay.blogspot.com,

BRIGHTWORLD: http://erlefraynebrightworld.wordpress.com, ARTBLOG: http://erleargonza.wordpress.com,

ARGONZAPOEM: http://argonzapoem.blogspot.com]

PUNISH BUSH & NEO-CONS FOR WAR CRIMES!

July 22, 2010

Erle Frayne D. Argonza

A global Establishment has already galvanized before us, just as the global order had been established by the capitalist oligarchy that constitutes this Establishment. The same Establishment has been defining for us who should be punished for war crimes and who should not, and this is truly bothersome for us global citizens.

The likes of Bush, both father and son, who espoused hawkish policies of war and attrition in the guise of America’s role as global policeman, are indubitably war criminals. Yet they roam the world so freely like the wildest monsters that call the shots in a jungle.

I will never forget the Bush father & son, as the war policies they hatched emboldened the hawkish policies of the army of my own country, an army that is a compliant clone of the Pentagon up North. Not only did the peoples of Iraq, Afghanistan, Palestine, and countries affected by their war policies suffer miserably, my very own Muslim compatriots and countryside folks suffer from the war policies of the neo-cons clone army here.

With displeasure I regard those actuations of Western liberals who condemn the war crimes of the leaders of Sudan and Serbia but who are blind to the very war crimes of the hawkish leaders of their hegemonic countries. For if they indeed are sincere with condemning such war crimes of their leaders, they should by now be prospering in the cases they file at the International Criminal Court versus such criminals.

One would say, “hey the ICC is funded by Soros & cronies, so how can the ICC ever punish the likes of Bush father & son and crony neo-cons who are their colleagues in the global Establishment?” True indeed, the Establishment funds the ICC, and it may prove futile to file cases against their members.

Be that as it may, why don’t the West’s liberals and New Left advocates push through with the filing of war crimes just the same? Whether they file it at the ICC or in their own home countries, the challenge of the day is for such cases to be filed most urgently.

Monsters that were responsible for the destruction of nations and genocidal deaths to millions of people, such as what the Bush & crony neo-cons have factually committed, shouldn’t be allowed to roam freely around the planet.

Failure to file such cases can be misconstrued by us Eastern observers as an attempt of White liberals and their colored humanoid clones to cover up for their Establishment sponsors. So to speak, an instance of White intellectual prostitutes paid to kowtow to their own kind, or paid dogs of Establishment masters who can rock the boats provided that they don’t touch their masters who feed them lusciously.

The cycle of mass terminations by the likes of Bush & neo-cons have to cease soon enough. And the Establishment war criminals should be made to pay dearly for their crimes. Just exactly when will such a payment of crime happen, if in case it would happen at all?

[Philippines, 13 July 2010]

[See: IKONOKLAST: http://erleargonza.blogspot.com,

UNLADTAU: https://unladtau.wordpress.com,

COSMICBUHAY: http://cosmicbuhay.blogspot.com,

BRIGHTWORLD: http://erlefraynebrightworld.wordpress.com, ARTBLOG: http://erleargonza.wordpress.com,

ARGONZAPOEM: http://argonzapoem.blogspot.com]

WEST MARKETS SHRINK, ASIANS’ RISE AND OVERTAKE WEST SOON

July 19, 2010

Erle Frayne D. Argonza

 

Good evening from the Pearl of the Orient! 

The International Monetary Fund or IMF has been quite bullish lately about Asian growth. It had forecast East Asia’s average growth at past 7% for this year, and shares an equally positive growth trend for RP at 5.5%-6%. Just what could be the implications of the growth trends on the global economy and the West? 

As Asia expands, the West (Europe, USA, Canada, Japan) contracts. The trend will not change much over the next five (5) years, so let’s see where the East and West are headed for in the foreseeable future. 

In early 2008 yet, the economists and financial analysts of the West (or North) were of the opinion that the technological cutting edge of the West was already breached by Asia by the end of 2007 yet. Remember that 2007 was the beginning of a new cycle of recession for the West which began in the USA with the implosion of the realty bubble. 

Given that the Western economies are flat on their back growth-wise, and their toxic bubble economies have given them only virtual economy results (read: inflated values not based on real production but on speculation), there is ample reason to forecast that they will be mired in problems of saving their ailing banks, financial-monetary systems, and providing sovereign guarantees to their capitalists at the expense of taxpayers and infusing investments in the physical economy. This is now matter of fact, as we can clearly see. 

Western economies have suffered from the ill effects of continuous de-industrialization for decades, of being remiss in their own infrastructures (USA seems to be the worst in infrastructure decay), and deteriorating investments in science & technology. From being a producer economy, Western economy generally has become a parasitical ‘eater economy’ that stands on no clear foundation other than financial quicksand. 

In contrast, the Eastern economies have steadily built their strategic industries across the decades, reinforced their infrastructure expenditures and projects, and invested in science & technology. The Eastern economy generally has therefore been role-playing as ‘producer economy’ worth the emulation of other developing economies worldwide. 

Result: by 2007, at the downspin year of a recessionary West, the East overtook the West in terms of cutting-edge technologies. To qualify, the technologies we refer to are those life-inducing technologies, not those death & destruction technologies that the West has clear edge till these days. 

I still remember what my nationalist colleagues in the Sunday Kapihan that we then held every Sunday at the Sulo Hotel in Manila: the West knows nothing but perfect its Armaments.  Dr. Emmanuel Yap, an economist who finished his PhD at Harvard University, was the most vocal about that emphasis on the death & destruction focus of Western innovations. 

To continue, the added forecast that I’d share at this moment is this: from the years 2007 through 2015, Western markets will contract by at least 30%. That means their own consuming public will spend less and less across a 9-year stretch, until the consumption pattern will settle down by 2016 or so. Real GDP (gross domestic product) will radically decline during the period, shrinking by as much as 30%-40% contrasted to their 2006 levels (the last of the best years of the West). 

In contrast, the Eastern markets will expand by at least 100% during the period. The giants China and India will go farther than that, with China expanding by as much as 200% during the same period. That means the middle income earners in the East will continue to rise by the year and consume more products by the year, even travel more overseas year by year. 

Result: China will clearly overtake the shrunken economies of EU and USA by end of 2015. India may follow suit, at around the years 2020-2025. The last would be ASEAN, which will overtake the West by 2025-2030 period. 

Once a region overtakes others technology-wise, it will just be a matter of time before the same innovator region will overtake the rest wealth-wise. Technologies—physical technologies, biotechnologies, social technologies, medical technologies—are precisely the cutting edge practices that will enable one region to overtake others across the globe. 

The bad news for the West is this: if their own states and markets will fail to solve their ailing problems in infrastructures and reverse de-industrialization, they will pathetically go down as 3rd world or ‘developing economies’ past 2020. No less than their own economists warned of this possibility in the early 1990s yet, and sadly no one paid attention to them in their own backyards. City after city in the USA and EU will immerse in urban decay, becoming 3rd world cities in the process. 

My mother just retired from New York where she migrated since the 80s yet. She decided to come home back to the Philippines, and visited the Libis & Cubao areas of Quezon City/Manila suburb pronto upon her arrival. She was so deeply enchanted by the esthetic beauty of the architectures and planning in those mixed land use zones, while she complained of the dilapidated buildings and nauseating smells of cinema theatres in downtown Manhattan. 

Those observations are signs of the times indeed. In just a year from now, the Pagcor City will rise in Manila, housing the world’s tallest tower. Burj Dubai, Petronas Twin Towers, and Taipei 101 are already similar hallmarks in other Asian cities, signifying the power shift from East to West. 

The message is hereby brought to the West’s peoples: shift back from virtual reality to physical reality, from the virtual economy to the real economy. We Asians will help you along the way, as we’ve already been doing through our colossal treasuries investments, direct foreign investments, and quality Asian expatriates in your backyards that have been saving your collapsing economies from rapid decay.  

[Philippines, 13 July 2012] 

[See: IKONOKLAST: http://erleargonza.blogspot.com,

UNLADTAU: https://unladtau.wordpress.com,

COSMICBUHAY: http://cosmicbuhay.blogspot.com,

BRIGHTWORLD: http://erlefraynebrightworld.wordpress.com, ARTBLOG: http://erleargonza.wordpress.com,

ARGONZAPOEM: http://argonzapoem.blogspot.com]

APPRECIATING PARK CHUNG HEE

July 17, 2010

Erle Frayne D. Argonza

Magandang araw! Good day!

For so long now did I harbor an admiration for certain leaders of the South, one of whom is the late Park Chung Hee of South Korea. Among the most admirable of developmentalist Asian leaders, I nurtured wishful thoughts that hopefully we can have the equivalent of Park Chung Hee for many developing economies so as to accelerate the graduation towards prosperity.

His governance style was authoritarian, which I surmise worked well for demonstrating political will in pushing through reform programs and the industrialization of his poor country. I am no dogmatist who contends that democracy is the only true best governance modality, though to my mind this is the most fit for my country the Philippines that has failed in attaining a mature developed economy via the martial law route.

South Korea was so poor as its economy was wrecked by two great wars, World War II and the Korean civil war. Right after the truce with the North, South Korea experienced the additional misfortune of selecting a corrupt leadership under Shingman Rhee which proved costly to the fledgeling nation.

Pushing through first of all with agrarian reform, by enticing the chaebols (big landlords) to divest in land and invest instead in manufacturing concerns, just couldn’t make a headway under that corrupt regime. And so it has to take the iron hands of a developmentalist authoritarian regime, under President Park, to rectify the malady and propel South Korea towards industrialization.

President Park thus enticed the chaebols to establish the strategic or heavy industries of the nation, with the state providing sovereign guarantees to their installation. The caveat was: the state will help the chaebols enable their newly owned industries and accumulate gains, but in no way should they engage in investments outside of Korea.

In an interview before with Dr. Antonio Arrizabal, former science & technology secretary and foremost expert on steel industry in the Philippines, he revealed that Park was forewarned by the Americans not to push through with the heavy industries. The first salvo of retaliatory measure by the American elites was the blockage of financing for the big projects.

Unwavering in his decision to pursue heavy industrialization, including the installation of steel and shipbuilding industries, President Park instead diversified the financing source. He turned to Japan for alternative financing, which the latter acceded to. The rise of Pohang Steel Works (once the world’s biggest steel producer) and Hyundai are clear testaments to the success of the industrialization program under the stewardship of President Park.

Very clearly, Park pursued a nationalist economic development policy regime for his country, using interventionist measures as well as capital controls. As shown by the experiences of other countries that have industrialized, state intervention and capital controls were necessary measures to propel their respective countries to industrial prosperity. Attendant social policies led to the creation of a huge middle class in the same countries, thus ensuring a steady and strong domestic market (consumption) for the manufactured goods of the country.

Park knew his economic lessons very well, and he coupled his vision with the determination and zeal to build a prosperous South Korea and a huge domestic market in the long run. And he was undaunted by external threats by the main imperialist power, the USA, of retaliatory attacks for establishing industries that would later compete with America’s and Western powers’ articles of manufactures.

For his deep patriotism and nationalism, he lost his life eventually. Inside the Korean government was a puppet of the Americans—the very chief of the Korean intelligence body (KCIA)—who snuffed off President Park’s life with a bullet.

I wish that the young Koreans and youth across the world today, who would become leaders in their own countries some day, would re-study the exemplar from Asia in the person of Park Chung Hee. No matter what threats may come from vested interests aimed at retarding the development of their respective country, they should go ahead just the same and stand pat on their wise judgement and decision to pursue highly ambitious yet doable and noble goals for their country.

Be ready to become martyrs for the cause of liberating your own country and people from poverty. For after you’re gone, there will be other patriots who will carry on with your cause and bring your sublime vision to fruition.

[Philippines, 10 July 2010]

[See: IKONOKLAST: http://erleargonza.blogspot.com,

UNLADTAU: https://unladtau.wordpress.com,

COSMICBUHAY: http://cosmicbuhay.blogspot.com,

BRIGHTWORLD: http://erlefraynebrightworld.wordpress.com, ARTBLOG: http://erleargonza.wordpress.com,

ARGONZAPOEM: http://argonzapoem.blogspot.com]