National Economic Protectionism Association (NEPA) recently launched the “Buy Philippine Made” campaign in the hope of developing economic nationalism in the country. If achieved, NEPA guarantees that growth of the country’s industry competitiveness will follow. The campaign was graced by Bayan Muna Rep. Teddy Casiño and University of the Philippines economics professor Rene Ofreneo last September 27.

 

NEPA President Bayan dela Cruz stressed that if Filipinos start buying local products, the country will once again increase its economic capabilities as demonstrated during the height of economic nationalism in the 60’s. Rep. Casiño, in support, urged the Aquino government to finance the project instead of the Conditional Cash Transfer (CCT) program. Casiño sees additional employments if economy protection is promoted in the country.

Prof. Ofreneo also cited the economic boom in the US when George Washington adopted Alexander Hamilton’s vision of national industry protection. They increased tariff, strengthen their industries, and produced their own products. To date, US have the highest tariffs (+200%) on their protected products.                                  

 

Further studies also showed that developed countries have one thing in common: they practice economic protection as a sort of personal code.