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Philippine’s Economy
A little over half a century ago, the Philippines appeared ideally positioned to develop rapidly as the world recovered from the devastation of World War II. The country had high levels of education and English literacy thanks to Uncle Sam's colonial influence, decent savings rates, and an export-oriented agricultural sector that generated more than sufficient foreign exchange. The industrial sector was growing rapidly and the country had one of the highest per capita incomes in Southeast Asia. There was much to look forward to on the economic and business front.
So what happened? Well... a lot of things. The 1950's saw the spread of the power of the traditional oligarchs from their original economic base on the haciendas into all sectors of the Philippines economy for historical background and discussion). The 1960's and 1970's up to 1986 were dominated by martial law and the veritable looting of the Philippine economy by Ferdinand Marcos and his buddies.......

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Approximate Word Count: 998
Approximate Pages: 4 (250 words per double-spaced page)

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