It is interesting to note that the Plan of Stabilization that jump started the rise of the Spanish economy from the “sick man of Europe” to the Iberian tiger actively targeted a major inflow of foreign capital into Spain by facilitating foreign investments in the country and by granting amnesty to all Spaniards who had illegally accumulated wealth abroad and who were willing to repatriate such wealth; capital held abroad by Spaniards could be brought back to Spain without fear of government prosecution. The framers of the Plan of Stabilization clearly understood that a massive entry of foreign capital into Spain was the most effective way of obtaining external equilibrium. A similar situation exists in the Philippines today: we cannot continue the Build, Build, Build program started during the Duterte Administration without a massive dose of Foreign Direct Investments.
It is interesting to note that the Plan of Stabilization that jump started the rise of the Spanish economy from the “sick man of Europe” to the Iberian tiger actively targeted a major inflow of foreign capital into Spain by facilitating foreign investments in the country and by granting amnesty to all Spaniards who had illegally accumulated wealth abroad and who were willing to repatriate such wealth; capital held abroad by Spaniards could be brought back to Spain without fear of government prosecution. The framers of the Plan of Stabilization clearly understood that a massive entry of foreign capital into Spain was the most effective way of obtaining external equilibrium. A similar situation exists in the Philippines today: we cannot continue the Build, Build, Build program started during the Duterte Administration without a massive dose of Foreign Direct Investments.
Plus ça change philstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from philstar.com Daily Mail and Mail on Sunday newspapers.