CPP: Aquino's "economic growth" stats are nothing but spasms of a moribund economic system

From the CPP Website (Nov 5): Aquino's "economic growth" stats are nothing but spasms of a moribund economic system

The current chief executive officer of the moribund Philippine semicolonial and semifeudal system, Benigno Aquino III, is thumping his chest, proud of the 7.1% third quarter growth in the Philippine gross domestic product (GDP) reported by his technocrats last November 28. Amid the worsening socio-economic conditions of the people, Aquino is working hard to make the people believe that his promise of so-called “inclusive growth” is just around the corner in hopes of placating the people’s anger and staving off their resistance. Aquino’s growth statistics, however, fall flat in raising the people’s enthusiasm. There is zero indication of an economic u-turn.

As before, Aquino’s economic policy is directed towards attracting foreign investments by pulling down wages and providing the physical and financial infrastructure for foreign big capitalists. Aquino continues to hinder domestic economic progress and stifle the demand for social justice by blocking land reform and national industrialization. Local production, both in agriculture and manufacturing, continues to be geared principally towards the slumping export market.

Aquino’s GDP growth statistics are nothing but the death throes of a moribund economic system. Aquino is steering the economy in exactly the same disastrous path taken under Arroyo, Estrada, Ramos and all other previous regimes. In line with imperialist economic dictates, Aquino and his technocrats are veering away from genuine industrial progress and agricultural modernization....

http://www.philippinerevolution.net/statements/aquino-s-economic-growth-stats-are-nothing-but-spasms-of-a-moribund-economic-system