In his May 30 column, Peter Wallace advocated Charter change to lift the restrictions on foreign investors in order to attract more foreign direct investments and to create jobs and wealth for us, similar to what China, Singapore and other countries have done.
Wallace failed to qualify. In China, land is leased for just 70 years and in Singapore for 50 years only. To let foreigners own land in the Philippines without conditions will result in Filipinos losing their homeland to aliens forever.
The government has allowed foreigners to take our gold, iron, ore and other minerals under our land for free, charging only a 2-percent excise tax on them. Foreigners, led by the Americans and their soldiers, have already taken over our land without Cha-cha. Nothing will be left for our children to develop.
With the government’s public-private partnership program, coupled with its perpetual debt to the local rich and foreign creditors, Cha-cha will be the final blow that will scatter our children like the Jews once scattered all over the world.
—GREG T. FABROS,
gregfabros@yahoo.com