Excellent replies obviously reaction to different people's experience for my part living in Bicol (Naga City) here are my
don'ts
1. remember in Naga the traffic rule: (there are no rules) in other words biggest wins
2.do not lend money, period, to anyone
3.don't give credit to locals if you are in business (you must remember the wages here are low and only enought to survive if credit is needed it can't be afforded)
4. I totally agree that one must think in pesos especially if in business if your making your money in pesos spend it in pesos
as for discussing politics with locals you must know them well first but I do and I'm amazed how close our thinking is.
also I never do direct business with Fillipinos, my wife does
even if it's just buying vegies (westerner pay more)
having said all that I think Fillipinos are basicly good God fearing people