Ramos stated his goals for the end of his presidency in June 1998: to raise per capita income to 1000 U.S. dollars; for the economy to grow by at least 6 to 8 percent, and for the poverty rate to decline to at least 50 percent. Although I don’t want to ignore the repression directed against peasants and workers (or the direct involvement of the CIA), I’m going to limit my focus here to the economic policies implemented.To implement their new industrialization program, the Philippine government initiated foreign exchange and import controls. This import substitution industrialization (ISI) program was a serious effort to industrialize.While this program did not benefit the majority of the population at the time, it was a success as an industrialization program by 1960. Conditions among the peasantry and agricultural workers have also deteriorated, to the extent that they have joined and maintained a revolutionary army for over thirty years (albeit considerably weakened since 1986—and particularly since 1993—by internal problems). The So, by the mid-1960s, the economy that had looked so promising going into the decade was a shambles. This brings into focus the role of the social protection system to provide stronger protection against the risks Filipinos face throughout their lives.Philippine Institute for Development Studies, 2000The recent reforms and development in the financial market necessitate the reexamination of the role of Land Bank of the Philippines. Unemployment increased moderately, but was more pronounced in the manufacturing sector which felt the brunt of the slowdown mainly through the export channel. This issue argues that LBP should focus on its development function and give up its commercial and investment roles. The 2008 global economic and financial crisis spawned a synchronized recession among industrialized countries leading to a contraction in world trade. Eldis supports free and open access to useful and relevant research on global development challenges.Eldis is hosted by the Knowledge, Impact and Policy team at the How does growing older affect a person’s income security in Asia? According to Walden Bello, David Kinley, and Elaine Elinson, PD 66 gave firms that exported at least 70 percent of their products “permission for 100 percent foreign ownership; permission to impose a lower minimum wage than in Manila; tax exemption privileges, including tax credits on domestic capital equipment, tax exemptions on imported raw materials and equipment, exemption from the export tax and from municipal and provincial taxes; priority to Central Bank foreign exchange allocations for exports; low rents for land and water; government financing of infrastructure and factory buildings, which could then be rented out or purchased by companies at a low price; and accelerated depreciation of fixed assets.” The incentives worked: “By 1980, the Bataan EPZ had attracted 57 enterprises, the great majority foreign owned, employing some 28,000 workers.”By the early 1970s, the World Bank’s role in the industrialization strategy had become crucial.

Key to the EOI strategy was the establishment of the export processing zone at Mariveles, Bataan. Exports from developing countries fell sharply dragging many of them into the global economic downturn. These impositions, in addition to the extractive economy and corrupt political system, were all “grants” to the newly freed nation.An economic crisis in the late 1940s, when luxury imports by the elites threatened to bankrupt the country (in addition to a peasant revolt in Central Luzon and a newly emerging radical labor movement), forced the ruling elites to try a new economic program, with U.S. permission. Researcher Peter Warr presents data that shows huge increases in non-traditional exports: from .4 million dollars in 1972 to 73.1 million dollars in 1978 to 159.6 million dollars in 1982. Tourism in Hawaii, on which the state is largely dependent, has been devastated; agriculture (particularly corn) and agricultural machinery manufacturing have been hit hard in the Midwest; and so much steel has been dumped in the United States that the United Steel Workers have joined the steel companies in demanding import protection. Why?