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 PHILIPPINE ECONOMIC DEVELOPMENT
 THE COLONIAL RULE
 THE REPUBLIC: 1946-1972
National
Economy
Free
competition
Economic
Freedom
Free choice of
Investment
Price is based
on Supply and
Demand
Our economy has not improved much
in terms of the interest of the masses,
because of our colonial and primitive
agricultural economy. Foreigners control
our economy from production to
marketing. Our agricultural outputs are not
even sufficient to feed our growing
population. Hence grinding poverty has
not left us. Such situation has been
aggravated by our population explosion.
Determinants of
Economic Growth
Knowledge
Skills
Value
The Philippine became slave of
three colonial master:
Spain, United States and Japan.
For more than three centuries we were
under Spanish rule, and about half a
century under the American Regime.
The Chinese dominated the retail
trade business even during the
Spanish time.
The Chinese clustered around
Intramuros - which literally means
“city within the walls” – the Spanish
colonial capital.
Tondo, Binondo and Sta. Cruz
were inhabited by the Chinese.
The only economic contributions
of the Spanish rule were encomiendas,
galleon trade and tobacco monopoly.
Under the American Regime,
many Filipinos thought that the
coming of the Americans was great
blessing. At that time, the tremendous
growth of factories in the United States
created big problems. To solve these
problems, the United States colonized
new territories like the Philippines.
This
gave
the
American
businessman the right to exploit
natural resources, to operate public
utilities and other business, and enjoy
the pre-war free trade agreement. The
Philippines government accepted the
Bell Trade Act in exchange for war
damage payment.
When the Philippine economy
plunged into its lowest level, the United
States agreed to impose import foreign
exchange control. Clearly, this reduced
U.S exports to the Philippines.
The import control program of the
Philippine government provided Filipino
Entrepreneurs opportunities to put up
their own enterprises. There was no
foreign compitition.
Introduce the first Filipino Policy. It granted
the Filipinos preferential treatment in the
Philippine Economy.
He abolished the import and foreign
exchange control. In exchange, the Philippine
government received more than 500 dollar
loan from United States.
Enumerate the three determinants
of economic growth
Illustrate the three major sector of
economy
Knowledge
Skills
Values
National
Economy
Give the meaning of
the ff;
Human resources
Unemployment
Poverty