-Caveat Lector-
"President Estrada says the constitution of the Philippines, enacted a
year after dictator Marcos' overthrow, must be overhauled to attract more
foreign investment."
Filipinos Protest Proposed Changes
By JIM GOMEZ
.c The Associated Press
MANILA, Philippines (AP) - Tens of thousands of Filipinos rallied today in
several cities to protest plans to amend the constitution, saying the changes
could endanger the Philippines' young democracy.
In Manila's financial district, more than 30,000 people marched to the statue
of Benigno Aquino, a pro-democracy leader slain 16 years ago, police said.
A large yellow banner in front of the statue read, ``Stand up for
democracy.''
The rallies were the first mass protests against President Joseph Estrada,
who won a landslide election victory 15 months ago. They were organized by
the Catholic Church and by Aquino's widow, former President Corazon Aquino,
who helped lead the ``people power'' revolt that ousted dictator Ferdinand
Marcos from power in 1986.
``We fought a dictatorship then,'' said Josefina Fernando, a Franciscan nun.
``We are here to prevent this government from ending up like that one.''
Estrada says the constitution, enacted a year after Marcos' overthrow, must
be overhauled to attract more foreign investment to help the country's poor.
But critics fear the planned economic changes could lead to political
amendments that might thrust the country back into the dark days of
dictatorship.
``Who will control the change?'' Mrs. Aquino, dressed in yellow, the symbol
of the 1986 revolt, asked the crowd. ``There is no sound reason to tinker
with the constitution.''
The issue has sharply polarized Filipinos and reverberated into financial
markets. On Tuesday, stocks plunged 4.1 percent to a six-month low and the
currency, the peso, hit a four-month low. Stocks, however, recouped some of
their losses later in the week.
Estrada insisted again today that he only wants to help the poor, and warned
that the country's image abroad will suffer if Filipinos appear divided.
``I do not want anything but the betterment of our country and to raise our
people out of poverty,'' he said in a radio interview. ``We are showing other
countries that we are divided. We will be destroyed that way.''
Estrada says he wants to remove provisions from the constitution that limit
foreign ownership of local businesses and bar foreigners from owning land.
Currently, foreigners are limited to a combined 40 percent stake in a number
of key sectors, including transportation, telecommunications and utilities.
Those restrictions have made the Philippines lose out on investment to its
neighbors, Estrada says. He says the changes should boost economic growth by
an additional 4 percent to 5 percent per year.
While the proposed changes generally have the backing of big business, some
smaller enterprises fear they may be driven out of business by foreign
competition. Leftist groups say the amendments would allow foreigners to take
control of the economy.
The changes also have split the Catholic Church. While the church hierarchy
helped organize the protests, more than 1 million members of a large Catholic
charismatic group, El Shaddai, held a rival rally in Manila today to
celebrate the 60th birthday of its leader, Mike Velarde. Velarde is Estrada's
spiritual adviser.
``We support charter change because President Estrada said it's an economic
reform,'' said Rodolfo Guevarra, who attended the El Shaddai rally.
``Economic reform is important for low income citizens like us.''
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