It would not be an exaggeration to say that we are living in difficult, even perilous, times. The Philippines, the Indo-Pacific Region, and indeed the world are facing threats in numerous forms and contexts.
Earlier this year, speaking at an event hosted by the Center for Strategic and International Studies, President Marcos acknowledged these security challenges. There are new and traditional threats to our people’s security, he said. National security transcends territorial defense; economic security is also national security.
Filipinos know this all too well. On the territorial defense side, we hear and read about reports of incursions into our sovereign waters. These events are not isolated; they follow a pattern and fit into the larger strategy of a bully trying to claim what is not its own using intimidation and other tactics, and disregarding the rules-based international order.
A recent survey meanwhile showed that issues that concern Filipinos are primarily economic in nature. Pulse Asia found that in the third quarter of the year, nearly three in four Filipinos said their top concern was controlling inflation. Some 49 percent believe that the pay of workers must be increased, and 27 percent say that more jobs should be created.
Most recently, the pandemic exposed the deep-seated and structural gaps of our economic structure. The brief recession we experienced forced us to think about the measures we must take to make the economy resilient and sustainable.
These geopolitical and geoeconomic challenges can trigger a domino effect that affects the national economy and other economies and societies around the world. But while traditional, nontraditional, and multifaceted challenges can threaten our way of life as we know it, they also present great opportunities for sectors, organizations, and nations to come together and work toward a common aspiration.
Only a collaborative approach will allow us to manage and address a wide range of risks that could impede and undermine economic opportunities in the region.
For example, the Philippines is leveraging its ties with like-minded states in an attempt to protect what is ours and, in consequence, maintain balance and order in the globe. Our partnerships with the United States, the European Union, Japan, Australia, and the United Kingdom, among others, have enabled us to enrich our territorial and defense capabilities, and have resulted in numerous reinforcements to achieve peace and stability.
The same partnerships show how countries have become dependent on each other for resources in the pursuit of economic security. In the September 2023 survey commissioned by the Stratbase ADR Institute, Filipinos are keen for the Marcos administration to work with like-minded states in strengthening economic security. This includes the United States (74 percent), Japan (55 percent), and Australia (46 percent).
It is paramount that the country strengthens its ties with its most beneficial trading and investment partners such as the US and Japan, as well as improve its manufacturing sector to solidify its role in the global supply chain.
Here within our borders, collaboration is again the key word. The government is on the right track in pursuing partnerships with the private sector and civil society in a conscious effort to adopt a whole-of-society approach to solving our nation’s woes. Investments are an ideal way to grow the economy for the multiplier effect it brings, resulting in more jobs, higher income, better quality of life, and so on.
The Pulse Asia survey also revealed that 70 percent of respondents agree that the private sector plays an instrumental role in economic security as it can make goods that are more affordable and accessible to Filipino consumers (64 percent), create jobs (60 percent), and expand livelihood opportunities (58 percent).
Then again, investments can only thrive in an environment of transparency and accountability, where government leaders act as true servants of the people, championing their interest above all.
Collaboration was the overriding theme in the Pilipinas Conference of the Stratbase ADR Institute that took place this week, which punctuated many meaningful conversations from thought leaders who contributed their insightful solutions to address the most urgent issues of society.
We are so happy and grateful that key leaders from the government, business sector, the diplomatic community, and civil society participated in the event. We shall continue hosting more events like this to advance and exchange ideas on achieving peace, stability, growth, sustainable development, and prosperity for all Filipinos.
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Dindo Manhit is founder and CEO of the Stratbase Group.