This Week in PesoWeekly - October 17, Friday

Money talks, but in the Philippines, it often stays quiet. This week, we look at what happens when people and institutions stop asking the hard questions. A garment factory in Central Luzon may close because of rising costs and US tariffs. The flood control scandal continues to slow government spending. And many Filipinos are still better at budgeting money than asking for fair pay. We also cover the Supreme Court’s order on the flood mess, DTI’s pause on the Trustmark rule, and other key stories shaping the week.

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Big picture:
A major garment factory in Central Luzon may shut down as US tariffs and rising labor costs squeeze its margins. Industry leaders warn the closure could displace 3,000 workers and mark a troubling sign for the country’s export sector.

What’s happening:
The Confederation of Wearables Exporters of the Philippines (CONWEP) said the investor behind the factory is considering pulling out due to worsening business conditions. The plant once employed up to 10,000 people and produces high-end garments for US buyers. Trade Secretary Cristina Roque confirmed her team is meeting with company officials to explore ways to keep operations running.

The tariff trap:
Since August, the US has imposed a 19% duty on Philippine exports, a blow to an industry heavily dependent on the American market. According to Robert Young of the Foreign Buyers Association of the Philippines, these tariffs, coupled with higher wages and supply-chain bottlenecks, have pushed many firms to the brink.

Industry asks for relief:
Exporters are calling on the government to cushion the blow through:

Why it matters:
The garment sector employs tens of thousands and contributes over $1 billion in exports. Economists warn that factory shutdowns could ripple across the economy, deepening unemployment and weakening trade performance if swift action isn’t taken.

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Finance Secretary Ralph Recto warned that the Philippines could face slower growth until early 2026 as the flood control corruption scandal forces tighter government spending. The probe, launched after President Marcos exposed irregularities in DPWH projects, has already led to a P255-billion budget cut. Recto said the economy could’ve grown 6% if not for corruption losses, though he expects GDP to hit at least 5.5% this year. He called the reforms a “cleanup phase,” predicting recovery next year as infrastructure spending rebounds and interest rate cuts boost activity.

Removing ₱1,000 and ₱500 bills won’t clean up corruption, but reforming the country’s strict bank secrecy law just might, according to Bangko Sentral officials. In a new research blog, they said easing the 1955 law would let regulators trace dirty money and verify hidden wealth , something demonetization can’t do. Replacing high-value bills would cost over ₱11 billion and disrupt the cash-heavy economy. “Demonetization is a blunt hammer,” they wrote. “Transparency and bank secrecy reform are the scalpel that can actually cut corruption.”

The Department of Trade and Industry (DTI) has made the E-Commerce Philippine Trustmark voluntary until December 2025 after pushback from online sellers and MSMEs. The Trustmark, a digital badge proving a business’s legitimacy, was initially set to be mandatory this year. Trade Secretary Cristina Roque said the delay will allow the agency to improve the system based on stakeholder feedback. Senator Bam Aquino, who earlier opposed the rule, thanked DTI for easing the burden on small businesses. The agency will review by 2026 if Trustmark registration should become mandatory.

Big picture:
Filipinos are excellent at budgeting and saving but rarely taught how to negotiate salaries or advocate for fair pay. This gap, shaped by culture, education, and workplace norms, keeps wages low—especially among young professionals just entering the workforce.

The mindset problem:
From childhood, Filipinos are taught to be frugal and grateful, not assertive. Asking for a raise is often seen as rude or confrontational. In many workplaces, employees fear that negotiating could be taken as dissatisfaction rather than confidence. Gratitude replaces negotiation, creating a pattern where workers accept what they’re given instead of asking for what they deserve.

The cost of silence:

Why it matters:
Without negotiation, wages stagnate and ambition stalls. Financial education must go beyond budgeting to include assertiveness and negotiation training. When Filipinos learn to speak up about their value, they not only raise their own income—they help lift the standard for everyone.

Big picture: U.S. President Donald Trump confirmed he has approved secret CIA operations in Venezuela, saying the move targets drug trafficking and criminal groups. But experts and regional leaders warn the decision could ignite new instability across Latin America.

So what: The CIA directive reportedly aims to weaken Venezuelan President Nicolás Maduro, whose disputed 2024 re-election drew global criticism. Trump also hinted at possible land attacks after multiple U.S. strikes on Venezuelan boats killed at least 27 people. The White House has not provided proof that the vessels carried drugs.

Context check: Legal experts say Trump’s actions could violate both U.S. law and international conventions, which require congressional approval for military operations. Maduro called the move a “colonialist coup attempt,” while Colombia’s President Gustavo Petro warned of regional fallout if the conflict escalates.

Why it matters: CIA involvement in Latin America has a long, controversial history—from the 1954 Guatemala coup to Chile’s 1973 overthrow of Salvador Allende. If history repeats, Venezuela could face deeper political repression and mass migration. Analysts say the crisis risks spilling beyond its borders, potentially reshaping U.S.-Latin America relations and testing global tolerance for unilateral military action.

Experts say the landmines that sparked a deadly July clash between Thailand and Cambodia were likely newly planted. Thailand accuses Cambodia of laying Soviet-made PMN-2 mines along the border, which have injured at least six Thai soldiers. Cambodia denies the charge, insisting the blasts came from leftover war ordnance. Independent analysts told Reuters the mines looked too new to be decades old. Bangkok is now pressing the UN to investigate possible violations of the global landmine ban.

Violent clashes between police and young protesters in Lima left one man dead and over 100 injured just days after José Jerí became Peru’s interim president. The protests, led mostly by Gen Z activists, accuse the political elite of ignoring corruption and rising crime. Witnesses say musician Eduardo Ruiz Sáenz was shot by a plainclothes officer, though officials have not confirmed this. Jerí called the protests infiltrated by criminals but promised an investigation. The unrest makes him Peru’s seventh president in eight years and the latest to face public anger and distrust.

The Supreme Court has ordered President Marcos, Congress, and several government agencies to respond to a writ of kalikasan filed over the country’s worsening flood problems. The petition, led by lawyer Edna Selloriquez, asks the Court to compel the government to launch a nationwide cleanup and reveal its master flood control plan. The writ, a legal tool protecting the constitutional right to a healthy environment, also covers local governments and contractors involved in flood projects. Respondents have 10 days to reply, as public frustration grows over alleged mismanagement and corruption in flood control spending.

Dismissed DPWH Bulacan engineer Henry Alcantara, detained over the flood control corruption scandal, was briefly hospitalized after complaining of chest discomfort. Senate security chief Maj. Gen. Mao Aplasca said Alcantara was taken to Pasay Medical Center for tests, which showed only muscle spasms. He was returned to Senate custody after two hours and is now under daily medical monitoring. Alcantara, along with two other ex-DPWH engineers and a contractor, faces investigation over alleged kickbacks from public works projects that have also implicated several lawmakers.

The Department of Budget and Management approved ₱3.39 billion for the 2023 performance bonuses of 225,545 Philippine National Police personnel. Each qualified officer will receive a bonus worth 45.5% of their monthly basic salary after earning a “very satisfactory” performance rating. Budget Secretary Amenah Pangandaman said the incentive recognizes the PNP’s frontline service in maintaining peace and order. The DBM clarified that releasing the 2023 bonus in 2025 is normal, as evaluations and appeals take about a year. The Armed Forces also recently received similar performance-based incentives.

Cebu Governor Pamela Baricuatro has challenged Pinamungajan Mayor Glenn Baricuatro, her relative, to release the full cost breakdown of a ₱1.153 million public toilet project at a beach in Barangay Tajao. The governor said transparency requires data, not just declarations. The mayor defended the project, saying it’s funded by the Seal of Good Local Governance Incentive Fund and still under construction, with no payments yet made. He insisted costs follow standard pricing. But the governor pressed for proof, urging the release of bidding, audit, and procurement records, saying “taxpayers deserve to know the truth.”

The Department of Health assured the public that all government hospitals, including the Southern Philippines Medical Center (SPMC) in Davao City, are ready to respond to major disasters like the “Big One.” Health Secretary Ted Herbosa said hospitals can expand capacity by 10% and have backup power, evacuation areas, and trained emergency teams. Following the recent 7.4 and 6.8 magnitude quakes in Davao Oriental, SPMC’s medical team was among the first deployed to treat injuries and provide clean water. The DOH said its focus remains on fast, coordinated healthcare and relief operations across quake-hit communities.

Scientists found a powerful peptide in the venom of the Amazonian scorpion Brotheas amazonicus that kills breast cancer cells in lab tests. The peptide, called BamazScplp1, was especially effective against triple-negative breast cancer, the hardest type to treat. Researchers say it works by bursting cancer cell membranes, much like other scorpine-like toxins. While still in early stages, the discovery could lead to new cancer therapies inspired by venom biology.

Scientists at Tohoku University turned cobalt phthalocyanine, a common blue pigment, into a powerful catalyst that converts carbon dioxide into carbon monoxide. By layering the pigment around carbon particles, they created a stable structure that kept over 90% efficiency during tests. The team used AI to screen 220 molecules before finding this winner. The discovery shows how smart material design can turn everyday compounds into tools for carbon recycling and cleaner energy.

Microsoft is reimagining Windows as an AI-powered assistant you can talk to. With new “Hey, Copilot” voice commands, Windows 11 users can now ask their PC to open apps, fix problems, or guide them through tasks. Copilot Vision lets the AI “see” your screen to help with documents or games, while Copilot Actions can take steps for you. Microsoft calls it “the AI PC.” Whether people actually want to talk to their computers, though, is another question.