The Facts: (from Gokongwei's speech)

Twenty years ago, the per capita income of the Filipino was 1,000 US
dollars. Today, it's 1,100 dollars. That's a growth of only ten
percent in twenty years. Meanwhile, Thailand's per capita income today is double ours; Malaysia, triple ours; and Singapore, almost twenty times ours. With globalization coming, you know it is even more urgent to wake up. Trade barriers are falling, which means we will have to compete harder.