Realistically, why are they still such a shithole piss poor 3rd world country?Did you know, prior to WW2, the Philippines was one of the richest country in all of East Asia, comparable to Japan at the time, but after WW2 and the destruction of their entire country including Manila, they were unable to recuperate and achieve the same level of wealth they had back then.So, what is holding them back currently?>muh muh they're low iq shitskin niggers xDDDDThe iq of the average american is below 80.Also, did you know the United States provided refuge for the dictator Ferdinand Marcos and allowed him to take the wealth that he stole from the Philippines during his dictatorship?
>>539443613>Did you know, prior to WW2, the Philippines was one of the richest country in all of East AsiaCitation needed
>>5394436131. They were directly ruled by the US back then.2. Marcos unironically might be rich due to him owning Yamashitas gold.
>>539443613>lists cause and effect>refuses to directly state they are linked>whines about muh racismWhy are you even pretending to post? OP is a faggot.
>>539443706https://2009-2017.state.gov/outofdate/bgn/philippines/111389.htm>Since the end of World War II, the Philippine economy has had a mixed history of growth and development. Over the years, the Philippines has gone from being one of the richest countries in Asia (following Japan) to being one of the poorest. Growth immediately after the war was rapid, but slowed over time. Years of economic mismanagement and political instability under the Marcos regime eventually harmed economic growth and grossly adversely affected macroeconomic instability. A severe recession in 1984-85 saw the economy shrink by more than 10%, and perceptions of political instability during the Aquino administration further dampened economic activity. During his administration, President Ramos introduced a broad range of economic reforms and initiatives designed to spur business growth and foreign investment. As a result, the Philippines saw a period of higher growth, but the Asian financial crisis triggered in 1997 slowed economic development in the Philippines once again. President Estrada managed to continue some of the reforms begun by the Ramos administration. Important laws to strengthen regulation and supervision of the banking system (General Banking Act) and securities markets (Securities Regulation Code), to liberalize foreign participation in the retail trade sector, and to promote and regulate electronic commerce were enacted during his abbreviated term. Efforts to reform the constitution to encourage foreign investment, particularly foreign ownership of land, were abandoned amidst nationalist opposition. Initial optimism about prospects for economic reform also had dimmed amid concerns of governmental corruption. Scandals involving the Philippine Stock Exchange, and the President's close ties to certain businessmen, shook the confidence of investors and the business community and ultimately led to successful efforts to impeach and remove President Estrada.
>>539443706American colonial period (1901–1940)Manila in the 1900s>The results of the economy under the Americans were mixed. An initial phase of high growth occurred during the 1910s due to the recovery from the wars with Spain and the US, and investment in agriculture. The Philippines would at first briefly outpace its neighbors. This would not last as growth fell behind in the later years. In the late 1920s and beyond, the economy stagnated as access to US markets became restricted by protectionist quotas and fiscal restraints forestalled any further development in agriculture.>The growth period can be attributed to the results of a crash program in agricultural modernization undertaken in 1910–1920. This in turn was done in order to address the growing shortfall in the supply of rice. The Philippines once a net exporter became an importer of rice as a result of the wars with the Spanish and later the Americans and by the reallocation of labour to export crops.Looks like the United States didn't want competition in Southeast Asia.
>>539444050>The 1930s would mark the end to this period of relative prosperity. The Sugar Act of 1934 capped Philippines sugar exports to the US at 921,000 tons per year. Expenditure on public infrastructure for agriculture was reduced as the Payne–Aldridge Act stripped the government of customs revenue. Manila hemp was now competing against the newly invented Nylon. Although the area of land cultivated for agriculture was still increasing, the rate was reduced to 1% per annum.>The most consequential policy of this period was the peg between the peso and dollar. This was enforced by law until 1975. It provided monetary stability for foreign investment inflows, which lead to 40% of all capital invested in manufacturing and commercial enterprises to be owned by foreign entities by 1938. On the other hand, this overvaluation of the peso would have a negative impact with foreign trade with the rest of Asia. Economic policy leading to independence would have necessitated loosening trade links with the US. In order to achieve an internationally competitive exchange rate, the peso dollar link would have to be broken. The much belated move to a true floating exchange rate led to uncompetitive exports as such an import substitution strategy remained until significant currency devaluation opened up the opportunity for reorienting towards exports.And despite all of this, they were considered a rich country at the time.
>>539443613First Philippine Republic (1899–1901)>The economy of the Philippines during the insurgency of the First Philippine Republic remained the same throughout its early months but was halted due to the break out of the Philippine–American War. Nevertheless, during the era of the First Republic, the estimated GDP per capita of the Philippines in 1900 was $1,033 – the second-highest GDP per capita in all of Asia at the time, slightly behind that of Japan ($1,135) and vastly exceeding that of China ($652) and India ($625). Furthermore, real wages in the Philippines during the First Republic were actually the highest in Asia, eclipsing even Japan's, with the Philippines' real wages averaging 25.06% that of Great Britain's (The Foremost Industrial Power of the Era) while Japan averaged only 21.19%. Former Education secretary Alejandro Roces also noted that the Philippines' literacy rate was even higher than mainland Spain and several European countries.
>>539443613>The iq of the average american is below 80.Ave American is now browner than Filipinos. We are in the decline of America. Because it's brown and retarded.The white and east asians can only prop it up for so long. Phililipines>Brown island people.>Low trust>Lots of people>Don't give a shit about society. Getting rich is the most important. Also keeping other Filipinos down.
>>539443613>>539443915A quotation isn't much in terms of evidence, though it does build a case since state.gov historically has been a reliable source of hard data. 'one of, after' doesn't mean much. Was it 2nd or not? By what metrics? What industries? Et cetera. Tribalism is a big aspect, as it is in many other areas. I'd argue tribalism in that archipelago is worse than even the pits of central Africa. Are you not familar with Mindinao? Brain drain in the modern era: remittances support the nation but in the long run it hampers potential. Being sandwiched between greater powers. Yeah Sweden is too but they have mountains not oceans and ethnic unity (at least they used to).
>>539444380>>539444172I see the additional sections since posting. GDP isn't everything but yeah fair. That still lacks what industries (or ag) that money came from, and was largely pre-industrialization. In other words '2nd biggest in East Asia pre-industrialization' doesn't count for shit.Your absurdly corrupt government and 'elites' are keeping your nation down more than anything else. I fear you're all destined to remain little more than vassals for either a decaying USA or a rising and very oppressive China.
