Quote:
Originally Posted by etsys
Don't even under estimate Ph, they don't care about $, if their pride is hurt or even thousands lose their jobs.
Even Covid, they have managed to shut down a lot small businesses, closure sponsored by big businesses.
That's my 2 cents.
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The elite..the top 1% love the covid situation because it kills their competition even if they suffer a temporary drawdown in the short run due to less business. A billionaire who suffers a several billion + drawdown isn't going to feel it as much as a normal person who has their paltry 10k peso a month income reduced to nothing.
For many of the wealthy in the Philippines covid is the best thing to happen. A lot of their money sits in land investment or long term financial markets anyways where it is going to grow no matter what. Plus they get all the privileges of movement that normal people don't get.
Also many of the Filipino elite don't really like foreign tourists anyways. They are secretly xenophobic and even hate their own countrymen.
They like exclusive access and back to "hacienda plantation" style society like in the old times where the poor know their place.