BusinessMirror March 15, 2020

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ROTARY CLUB OF MANILA JOURNALISM AWARDS

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Sunday, March 15, 2020 Vol. 15 No. 157

EJAP JOURNALISM AWARDS

BUSINESS NEWS SOURCE OF THE YEAR (2017, 2018)

DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS

PHILIPPINE STATISTICS AUTHORITY

DATA CHAMPION

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PCID HEAD CALLS FOR DRAMATIC SHIFT IN PUBLIC PERCEPTION ON MUSLIM INSURGENCY IN THE SOUTH

FACES OF REBELLION

THE sun begins to set in an area where government troops battled Islamic extremists in Marawi City, June 15, 2018.

By Roderick L. Abad

C

Contributor

ONSIDERING that violent extremism is a growing global threat that comes in different forms, a noted human-rights and peace advocate has called for a change of public perception in the country about it being mostly linked to the Muslim insurgency being waged in Mindanao.

AP/AARON FAVILA

“When you look at violent extremism, I think we should not be married to the idea that violent extremism is just faith-based,” said Amina Rasul-Bernardo, president of the Philippine Center for Islam and Democracy (PCID). She made this appeal before government officials, foreign participants, representatives from different nongovernment organizations, members of the academe, media and others during the Talking Asean on “Preventing Violent Extremism through Good Governance and Rule of Law” forum held

recently by think tank Stratbase ADR Institute and The Habibie Center’s Asean Studies Program in Makati City. “When you talk about violent extremism, it’s always ISIS [Islamic State], the radicals or the Muslims. No. As far as I’m concerned and I come from the area of conflict, the ISIS is not as worrisome to meet,” she pointed out. What these liberation fronts want, according to her, was just to “isolate themselves to carve out an independent kingdom” that will be recognized here and abroad.

“So please do not just focus your attention on Muslim Mindanao. Because all of these things are happening on a bigger scale outside of ARMM [Autonomous Region in Muslim Mindanao],” Bernardo told reporters on the sidelines of the forum. The PCID official even cited that there are other huge problems now confronting the country, such as narco politics, smuggling, human trafficking, and gun running, among others. “We are peanuts in Muslim Mindanao. So if you are going to

be looking at cutting all of these criminal actions, is has to be a national government effort and not something that’s focused only on one sector of society,” she said.

Bigger danger

THE armed conflict that has been taking place in the country is not limited only in the south but all throughout the nation, Bernardo pointed out. For Bernardo, the scarier and more dangerous threat for violent extremism would be those who Continued on A2

World economy powering down daily makes recession more likely By Enda Curran and Michelle Jamrisko

A

Bloomberg News

PANDEMIC-DRIVEN global recession is becoming more likely by the day as the flow of goods, services and people faces ever-increasing restrictions.

In just the past day or so, President Donald Trump curbed travel to the US from Europe, Italy’s government ordered almost every shop to close and India suspended most visas. Twitter Inc. joined the flood of companies telling employees to work at home and the National Basketball Association suspended its season. While such announcements are aimed at containing the coronavirus, each quarantined city, canceled flight, scrapped sporting event and scuppered conference

will hammer demand across the globe this quarter and likely longer. An initial consumer rush to stock up on supplies may be followed by months of cautious restraint. “The resulting pandemic of fear continues to spread and is bound to cause a global recession,” Ed Yardeni, president and founder of Yardeni Research Inc. wrote in a research note. Dashed are the hopes from just a few weeks ago that the world economy would track a V-shaped trajectory—a sharp first-quarter

PESO EXCHANGE RATES n US 50.8600

A TRADER uses a hand sanitizer dispenser on the floor of the New York Stock Exchange, March 12, 2020. AP/RICHARD DREW

slump in growth followed by a second-quarter rebound. Now, the biggest economic shock since the 2008 financial crisis is raising the risk of a worldwide recession, with the debate shifting to how long and deep the slump will be. Equities and bond yields continued their retreat on Thursday, with the MSCI World Index of stocks now on the verge of a bear market. China is already on course for what could be its first quarterly contraction in decades. In the US, a Bloomberg Economics model suggests a 53-percent chance that the 11-year expansion will end within a year. The economies of Japan, Germany, France and Italy were already shrinking, or stalled, before the virus outbreak, and the UK is wobbling amid Brexit uncertainty. As the virus spreads, the threat grows of a phenomenon economists refer to as a feedback loop— a vicious cycle in which a country Continued on A2

n JAPAN 0.4853 n UK 64.0277 n HK 6.5398 n CHINA 7.2368 n SINGAPORE 36.0991 n AUSTRALIA 32.0774 n EU 56.8055 n SAUDI ARABIA 13.5507

Source: BSP (March 13, 2020)


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