Economic Transformation of the Philippines in the 21st Century: Difficulties and Challenges
The Philippines is the first developing country of East Asia embarking on the road of industrialization, but after the 1960 s, its economic development has had the characteristics of Latin America. For nearly half a century since 1960, the Philippine economic structure changes very slowly compared with its neighbors. Due to uncompetitive exports and small domestic market, the development of its industry, especially the manufacturing sector, is inhibited. In the 1990 s, the Philippines had been reduced to the largest agricultural country and not the second largest industrialized country in the region any more. The "de-industrialization" in the process of the Philippine economic development results from unique historical, political and economic factors; the US interference, inefficient political system, and political instability are the important causes why the Philippine economic development has lagged behind. In order to revive the manufacturing industry, the Philippine government has formulated an economic structure transformation roadmap. However, for the current Philippine government, it still has a long way to go to overcome a number of political and economic difficulties so as to achieve economic transformation.
【CateGory Index】： F134.1