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The Philippines is already a failure.While its ASEAN neighbors have improved their GDP per capita in leaps and bounds, the Philippines remains in the bottom barrel.It is quite amusing that the Philippnes tries to compare itself to Singapore. Where Singapore allows 100% foreign equity in domestically registered corporations, the Philippines has the anachronistic 60/40 which restricts foreign equity to 40%. The GDP per capita of Singapore is roughly $55,000 while the Philippines is at $2753 - 25 times higher than the Philippines. So whoever is pushing the line that the Philippnes is like Singapore, I hope he can share what he has been smokingThe outcome of such a policy is clear - Filipinos go to Singapore to work for a foreign firm. The Philippine government just taxes the remittances of OFWs. Quite ironic that the Philippnes 60/40 was the driver for working overseas because of a dearth of local jobs, and now taxes remittances and extorts money from OFWs through the POEA, OWWA, NAIA, NBI, NSO, DFA, and BIR. That's a thief rubbing salt in a wound injury caused by the same thief.It is true that Filipinos are hard working and fast learners. But would that really matter when their choice of employers in the Philippines is limited to an oligarchy protected by a predatory state? Their wages are dictated by the state. In contrast a free and open markets allows 100% foreign owned firms to pay Filipino workers more than ten times the state’s wage standards.The question therefore is not about the Philippines being doomed to fail. Rather what would it take to get the Philippines out of failure.More taxes and regulations has only made matters worse. More nationalism has only made matters worse. More intrusions on individual liberties has made matters worse.Have Filipinos figured it out? No they haven't. They remain stuck watching the distractions on Filipino owned TV and mass media. They remain stuck in schools which are indoctrination facilities to perpetuate the status quo. They continue to participate in the illusion of elections oblivious to the reality that politicians are selected by the elite. Their children are being murdered by policemen whose paychecks are paid by them.Until such time Filipinos free themselves from mental slavery, the Philippines remains one big failure.

The assessment that I've heard from VCs in the biotech industry is it's because of the freakishly long timescales between the seed round and drug approval. Unfortunately, this means that the future of the biotech industry is heavily tied to the financial stability of the tech industry.The frequently referenced example was the 1998 and 2000 tech bubble crash. When all of that cash dried up, VCs weren't able play long term bets and serve as a funding vehicle for drug trials and IPOs from 1998-2002. Because VCs weren't funding drug companies, several drug companies got acquired or merged in 2002-2004. Because of all of the mergers and the lack of biotech startups, the pipline dried up 8 years later in 2008. Some people attribute this to a post Vioxx era, I attribute it to a weak pipeline.Here is the interesting thing. After the big tech IPOs in 2004 led by Google, VCs started having cash again. As a result, they were able to take long term shots at funding drug companies and helping drive innovation. As a result, 8 years later in 2011 and 2012, we see an uptick in drug approvals.This played out again in the 2008 financial crisis. VCs tried up their funding and the US government pulled back on scientific research. As a result, the biotech funding market has been dismal from 2008-2012. Also, there were several major M&As in the biotech industry which may have artificially inflated the NBI during that period. My bet is that 8 years from that point, around 2016-2017, we'll see another lull in the pipeline since there were so few drugs companies starting up in 2008 and large companies can only handle so much in their pipeline. Current reports suggest that the large pharma companies like Pfizer, AstraZeneca, and BMS are actually over capacity and can't develop all of their compounds simultaneously.Here is a database of registered compounds per year. Notice the stall in compounds in 2001 and against in 2009.However, as the tech industry recovered in 2004, it is now in full swing in 2012-2014. It is a very economically viable time to be starting a drug company.

Traditionally there are two reasons why school uniforms have been a requirement for children at school both Private and State Schools.The main reason is that everyone is dressed the same, and the clothing of equal quality. That stops any child wearing expensive clothes/shoes that others can’t afford, and creating a hierarchy through money; usually in turn ending up in friction. There is no indication as to the family income and everyone looks the same. It is also the reason why many school don’t allow girls in particular to wear jewellery just a basic watch. The same goes for boys, not so much the jewellery side of things, but a basic watch.The other side to it is that by wearing a uniform anyone (and particularly younger children who may get lost/disorientated ) who is found wandering and in school time, or perhaps on the way home from school, if someone finds them then they are recogniseable nby their uniform. It means they can take the pupil back to their school, of if the school is closed either to their home (so the child does not feel intimidated) and call the Police on the non urgent line tp report the child found. The parents may be traced through the school regsiters and the child either taken to the paretns or collected.In the case of 2 if you are unknown to the child, it is always best to take the child to the Police station first and register the child. That way you cannot be accused of abuction. It may be the child or the Police may want to stay/be taken in to custody of the Police (in the civil sense- not locked in a cell but probably in one of the office to have a play or do some drawing/colouring in- something that small childnren like doing.If the child is scared of people in uniform (and many are) then notifying the Polce if the child’s where abouts from your home is always a good idea. Some people suggest taking the child to the hospital on the basis that is where the child would be taken first, if they have been injured; but I would suggest they are more likely to call the Police first.As an aside for those childnre who do have medical issues as Asthema, epilepsy, hearing difficulties or take special medication it may be best to get a bracelet made up which gives an indication the child has special medical issues and also gvies contact address as yours or a clsoe relation/friend to pick the child up or at least notified. These are called SOS talisman in the UK and can be worn as a bracelette or as a necklace and carry the details including blood group and special medication needs which you write on the slip of paper enclosed and then put back in the bracelet which is protected by a cover, ,and is easily visable to a First Aid Provider.Chris R- London