That is no easy task, however, given that recent events are of the magnitude that they permeate every aspect of our society, not least of which, the way we do business and what messages we communicate between ourselves and our foreign business partners.
Until this issue is resolved to the satisfaction of all, it will smolder and continue to influence the business climate. This could be a tragic consequence of an unpleasant episode. History tends to pass judgment not so much on the legality of an act but more on the morality of it. No laws may have been broken, but will the key players continue to exercise moral ascendancy as leaders of our society?
But I digress. Amid the swirl of congressional hearings and street rallies, a major development threatens to trivialize what little positive developments may have been attained recently. The price of oil in the world market is at an unprecedented level; local authorities have already forecast gasoline pump prices to reach P40 per liter in a month or so.
The temporary respite from gas price increase is at an end and local oil companies have, once again, resumed their regular announcements about price increases. The electric power sector, too, has calendared its rate increases, starting this July. Both sectors are, of course, at the mercy of global market forces, primarily a consequence of decisions made by the oil-producing cartel of nations.
The government’s recent approval of another fare hike for public transport has been welcomed by the drivers and operators, naturally. But this is, in fact, a harbinger of things to come: A steep increase in cost of goods and services as a result of the impending gas price hike.
When angry mobs rally against the inability of government to curb rising prices, they may be glossing over the fact that the major cause is a global phenomenon which even the mighty United States of America is helpless to prevent.
Unfortunately, the average Juan de la Cruz is not overly concerned (nor does he really care) about world events, not even if it directly affects him. Until a Robert Tarongoy or a neighbor figures in the headlines as a victim of a kidnapping or a casualty in a terror incident, majority of Filipinos are more interested in learning about the misadventures of Kristine Hermosa and her breakup with her rumored-spouse, Diether Ocampo.
This is not to say that we, as a people, are an apathetic and sorry lot. Watch an episode of Jay Leno in NBC’s The Tonight Show and witness how much more ignorant average Joes are about international affairs than we are. As a rule, we find it hard to connect with global news that seems light-years removed from our experience, which is what developments in Iraq, Israel, Syria, Aceh, the Ivory Coast and the European Union seem to be. Until a Filipino gets killed or is taken hostage.
So how do we communicate the urgency of the impending crisis to the people? And how do we get them to appreciate the intimate relationship between international trade and local prices of goods? When all is said and done, it is how we respond to this situation that will define our economic future.
A restive population will not be an attractive investment climate for foreign investors. Capital flight and loss of investment opportunities will only exacerbate the dire financial situation we are in. We are losing investments to such upstarts as Vietnam, and much more to a waking giant that is China.
Yet we continue to behave as if we were still "the pearl of the orient seas" in the eyes of international business. A crisis in our leadership is the last thing we need to salvage the tattered remains of a devastated economy.
There is an advocacy campaign on television and in the newspapers about our need to conserve expensive imported oil. This is commendable and will go a long way towards driving home the message. I suspect, however, that, along with other well-meaning advocacy campaigns that have come and gone, the message will be short-lived.
It is not a defect in the advocacy; it is, rather, a shortcoming in our nature as citizens of this country. We are a self-centered lot, totally oblivious and inconsiderate of other people’s feelings and welfare. From our national leaders who see nothing wrong in getting special treatment on the road, courtesy of police escorts and "wang-wang" lights and sirens, to wailing videoke joints who couldn’t care less about the noise pollution they unleash on their hapless residential neighbors, we don’t give a hoot about anyone but ourselves.
Take the case of imported oil, for instance. We rail and rant against rising pump prices while we are ensconced in our gas-guzzling, status-affirming SUVs (ooops!). We decry the continuing rise in our electricity rates yet will not scrimp on the use of the four air-conditioning units that cool our bedrooms and living rooms.
The more simple existence of the middle class is no haven for the frugal either. Tight budgets can hardly pay for electric, telephone and water bills, yet pre-paid cellphone cards and new clothes and shoes are not to be deferred. There’s always "four gives" and overextended credit cards.
Clearly, we take issue with a lot of things in our life, most of them blamed on someone else. There is a convoluted relationship between our personal choices and the effects of market forces both global and domestic, which, if only we could explain to an average Juan, may help him, understand why we are suffering as a nation. And understanding is the first step towards finding a solution.
We need to brace ourselves for this looming economic tsunami; a P40 per liter future may not be doomsday but it may very well be beyond the threshold of the Filipino people’s capacity for carabao-like patience. And, as mentioned in the beginning of this piece, our immediate future cannot be removed from the context of the latest political crisis: If our national leadership continues to be in crisis when this P40-per-liter scenario does take place, there’s no telling what this explosive mix will cause.