The Philippine Economy took a big hit during martial law. The country’s Economic Growth plummeted. The Philippines became the first in Asia and second globally to get World Bank loans with strict conditions. These conditions included cutting tariffs and removing import licenses. This change led to a drop in average nominal tariffs from 44.3% in…
The relationship between the U.S. and the Philippines has shaped the latter’s growth in profound ways. From historical ties to modern-day collaborations, the U.S. has played a pivotal role in the Philippines’ development. This partnership spans economic, political, and cultural spheres, leaving a lasting impact on the nation. During the early 20th century, the U.S….