“Emerging Trends and Issues in Economic Development, Global Service and Project Management

Sphere Amidst Pandemic”

(Reflection Paper)

Before I proceed with my actual reflection paper, I would like to extend my deepest
gratitude and appreciation to all of the people behind this informative and knowledgeable
webinar this Monday morning, from our professor, Doctor Edgar Moreno, students, and most
importantly with our guest speakers, Prof. Fe Espinosa, a graduate of Business and
Administration and is a holder of Master’s degree in Business Administration. And of course,
to Prof. Sisenando Solis, Master of Business Administration and Doctor of Business
Administration. I do appreciate Professor Espinosa and Professor Solis’ efforts and hard-
works in imparting and sharing their knowledge to all of the Economics and Project Management
students.

Economic studies are vital since we live in a market economy, and economics impacts
everyone. We are a member of an economic system in which we engage in economic activity on a
daily basis. Economics teaches us that the earth's resources are limited in relation to human
desires, which are limitless and continually changing as technology and people's preferences
change. Just like how this pandemic change everything that we used to from before. We now
have a new scheme if how to do things and to effectively cope up with how things should be
taken care and handled from now on. As people are constantly trying and striving to find the
best solution on how to address different struggles amidst this pandemic, the economists are
also doing their best to figure out what is the best measure to take and a sound decision to
make in order to bring back the country’s lively and prosperous economy. The talk of
Professor Espinosa regarding the trends and issues of economic development sphere did made me
realize that pandemic had really ushered in all of these changes in every aspect of human
being’s lives. What really did a long-lasting impression to me is what Professor Espinosa
stated that “before this pandemic begins, the Philippines was hailed and considered as one of
the fastest growing economy in Asia. As it is also called as “The Rising Tiger.” See? To be
compared to a tiger means that our country really is doing great but due to the outbreak of
Covid-19 Virus, everything had changed and is currently and continuously changing day by day.
Moreover, what Professor Espinosa did in the webinar was somehow tour us in revisiting our
homeland’s status, the Philippines, before and during the pandemic in which I find it so
interesting and knowledgeful experience to begin with. As I have also learned and observed,
this pandemic left the government with no any other best options but to enforce strict
lockdown restrictions in response to the COVID-19 pandemic in order to preserve lives and
assist both the public health sector and local governments in responding successfully to the
health catastrophe. Unfortunately, the lockdowns harmed our economy, as well as many other
economies across the world. After 84 quarters of expansion, the Philippine economy dropped in
the first three quarters of 2020, resulting in a ten percent drop in average real GDP. I also
want to commend what Professor Espinosa incorporated in her presentation about the economic
imperatives that must be the first matter to prioritize to begin with compared to other non-
sense platforms that we clearly don’t know what it is for right? As I can understand with
those economic imperatives, it can really help to sustain and control the economic downturn
as we experiencing as of the moment because it can somehow regulate and modify our country’s
economic system for the better. I know it cannot fully revive how our bountiful economy was
before but I know, as I begun to understand little by little how our economy works, I can
say that it can aid our country’s economic needs from the people’s essential needs just like
it is stated in the economic imperative namely “Requirement of Shopping mall to source their
workers and merchandise from local community.” See? This is a mutualism for all of us so we
really need to help each and everyone in order to rise up once again.

The next part of the webinar was conducted by Professor Solis in which we talked about
updates, issues and initiatives on programs and projects of the government and private
projects. In this part of the webinar I have learned different resolutions, updates, and
response of the government amidst pandemic. There are some disappointments and failures but I
can also say that there are still some helpful and beneficial things that the government and
private sectors had implemented. I also find it so interesting to know how both sectors are
setting project timelines in order to complete one project. However, we are also not
eliminating the fact that not all of the projects can be completed in a single course of
actions, right? In this portion of the webinar, I have learned different factors that caused
the delay in the projects. Well, to be honest., personally whenever I am hearing that a
certain project had stopped, I automatically thought that it is somehow related to corruption
every time. But it is not always the case because there are still several reasons why like
natural disasters such as fire and what we are currently experiencing as of the moment, the
Corona Virus Pandemic. Now, what really interest me the most is the part where someone ask a
question about the Manila Bay Rehabilitation Progranmme. We are amidst a pandemic considered
to be a disaster already so why develop, implement, and execute a project that may only add
unnecessary fond with the allocation of budget that in a wider perspective and viewpoint, is
only non-sense because if they really want to beautify and restore the Manila Bay’s state,
they can still do that without sacrificing the citizens needs that should be the first
priority. They can still can do a massive and continuous clean-up drive if they really have a
strong desire and dedication to do so. If there’s a will, there’s a way and not any excuses
to make.

Overall, despite technical difficulties, this webinar is so informative and time

worthy. Keep it up and see you next time.