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Summary (Philippines)

The Philippines is an archipelagic country in Southeast Asia consisting of over 7,000 islands. It has a population of over 100 million people from diverse ethnic and cultural backgrounds. In the 1960s and 1970s, the Philippines was one of Asia's industrial and economic leaders but experienced a decline under the corrupt rule of Ferdinand Marcos from 1965-1986. While its neighbors grew rapidly, the Philippines fell behind and its economy stagnated. Now, the Philippine economy is growing again and is projected to become one of the largest in Asia by 2050, driven by electronics exports and other industries, but it still faces challenges like poverty, corruption, and infrastructure gaps.

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Kien Saimon Jabillo
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47 views

Summary (Philippines)

The Philippines is an archipelagic country in Southeast Asia consisting of over 7,000 islands. It has a population of over 100 million people from diverse ethnic and cultural backgrounds. In the 1960s and 1970s, the Philippines was one of Asia's industrial and economic leaders but experienced a decline under the corrupt rule of Ferdinand Marcos from 1965-1986. While its neighbors grew rapidly, the Philippines fell behind and its economy stagnated. Now, the Philippine economy is growing again and is projected to become one of the largest in Asia by 2050, driven by electronics exports and other industries, but it still faces challenges like poverty, corruption, and infrastructure gaps.

Uploaded by

Kien Saimon Jabillo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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THE

PHILLLIPIN
ES

Jabillo, Kien Saimon L.


Renomeron, Jomar S.
Casiong, Jackey Bhelle
Dagami, Connie
SUMMARY

Getting to know Philippines


Philippines is an archipelagic country in Southeast Asia. It consists of 7, 641
islands which are broadly categorized in three main geographical divisions namely;
Luzon, Visayas and Mindanao.It’s the world’s 13th most populated country with
diverse ethnicities and cultures.
Capital: Manila
National Language: Filipino
Currency: Philippine Peso
Total Land Area: 115, 120 sq mi
Total Population: 109,035,343(2020 Cencus)

Philipine Culture, Customs and Traditions


The Philippines is a culture in which East meets West. The Filipino people have a
distinct Asian background, with a strong Western tradition.The Filipinos are family
oriented and often religious with an appreciation for art, fashion, music and
food.Filipinos are also hospitable people who love to have a good time. This often
includes getting together to sing, dance, and eat.
The Filipinos take pride in their families. Their daily life revolves around close
and extended family. Parents, grandparents, uncles and aunts, cousins, and very close
friends are all an integral part, moving down to the third and fourth generation as
well.Society norms and values are of utmost importance in the Philippines. Filipino
values are primarily rooted in relationships and societal obligations.
Children are taught to be respectful from the early stages of their life. They also
uphold optimism, friendliness, kindness, and spirituality high in this regard. A
common act of respect towards elders is ‘pagmamano’, which is the act of raising the
back of their elders’ hands to their forehead for accepting their blessings. All these
values are centred around social harmony, positive relationships, and group acceptance
in Filipino society.
Another tradition in the Philippines is street parades. Every fiesta involves street
parades with designed floats, music, dance, and delicious local delicacies. No festival is
complete without a street parade extravaganza.More than 80% of the population of the
Philippines is Roman Catholic. Fiestas in honor of the patron saint of a town are quite
common.
Filipinos are hospitable and welcoming. We Foster a collectivist culture hence we
value friendship and camaraderie.Filipinos are helpful and would gladly offer help
without expecting anything in return.Filipinos are resilient and Filipinos observes and
preserves patriotism.

Philippines Before
The Philippines was once a model of development and second only to Japan
among east Asian economies. In the 1960s, when South Korea was a land of peasant, the
Philippines was one of Asia's industrial powerhouses. It produced consumer goods,
processed raw materials and had assembly plants for automobiles, televisions and
home appliances.
In the 1970s and 80s, the Philippines declined while its neighbors grew and
became one of the poorest non-Communist governments in Southeast Asia. The gains
made in the 1950s and 60s were lost to corruption, cronyism, and mismanagement
during the Marcos years and ineptitude of the Aquino years Now the Philippines is
sometimes referred to as "sick man of Asia" and a "Latin-style banana republic in the
South China Sea." Its per capita income is about one tenth of that of Taiwan. Many of its
most talented people work overseas.
In the 1970s the Philippines was richer than its neighbours. Yet while it chugged
along at growth rates of around 2 percent, other countries stepped on the gas: it was
passed by Singapore, Malaysia, Thailand and, more recently, by China. The
incompetent and crooked rule of Ferdinand Marcos from 1965 to 1986 bears some of the
blame for its failure to do so. A sluggish economy combined with a fast-growing
population has forced some 8m Filipinos—equivalent to almost a tenth of the resident
population—to seek jobs abroad. .[Source: The Economist, August 16, 2007]

Philippines Now
The economy of the Philippines is one of the most dynamic in Asia-Pacific region,
driven by a mixed-market economic system that enabled the government to intervene
in the economy to promote growth and development, while also allowing market forces
to operate freely. The Philippine economy is the world's 36th largest by nominal GDP
and 15th largest in Asia according to the International Monetary Fund in 2023.
The country's primary exports include semiconductors and electronic products,
transport equipments, garments, chemical products, copper, nickel, abaca, coconut oil,
and fruits. Its major trading partners include Japan, China, the United States, Singapore,
South Korea, the Netherlands, Hong Kong, Germany, Taiwan, and Thailand. The
Philippines has been named as one of the Tiger Cub Economies, alongside Indonesia,
Malaysia, Vietnam, and Thailand
The Philippine economy is projected to be the fourth largest in Asia and 19th
largest in the world by 2050. By 2035, the Filipino economy is predicted to be the 22nd
largest in the world.

Economic Barriers to Development


Major problems remain, mainly related to alleviating the wide income and
growth disparities between the country's different regions and socioeconomic classes,
reducing corruption, and investing in the infrastructure necessary to ensure future
growth.

 High Population Growth Rates


 High Illiteracy Rates
 Human Capital Inadequacies
 High Inflation
 Recurrent Shock and Exposures to risk such as economic crisis, natural
Disaster and Environmantal Poverty.

Way to overcome these Barriers


1. Government should support local entrepreneurs and development of local
industries.
2. Industrialization of agriculture
3. Protectionism policy and governmental regulations on prices of commodity.
4. Free education to state funded education.
5. Intensive and more efficient tax collection.
6. Eradicate/Mitigate graft and corruption in the government
7. Strict Adherance to the constitutional provision on the exploitation of our natural
resources.
8. Filipino First Policy; Patronizing local gooods and products and pride being a
Filipino.

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