The US-philippine Economic Relations’ Impact On Economic Development In The Philippines (1946-1980)

For a long time,The US-Philippine have maintained special economic relationship. Economicrelations is one of the most important aspects of the relationship between the two countries.In thispaper,the US-Philippine economic relations since the Second World War as the research objectfrom1945to1980s, discussing America’s trade, investment and aid to the Philippines and its impact onthe economic development of the Philippine.First of all, the article reviewed the history of the US-Philippine economic relations.Early in theSpanish colonial period,America started exchanges with Philippine.After the Spanish-American Warin1898, Philippines became the America’s colonies, the economic relations between the two countrieshas been further developed. However, the outbreak of the Pacific War and the Japanese attackPhilippines interrupted the this development. After the World War Two, the United States adopted apolicy of new colonialism, which allows the Philippines became independent country but signed aseries of unequal treaties and agreements. In addition, this chapter also examines the change in thepostwar East Asia Strategic Situation and America adjustment to the Philippines economy policy.Secondly, this paper illustrates the three stages of The US-Philippine economic relationshistorical evolution: the first stage for the recovery period (1946-1953), during this period Americarestored economic relations with Philippines;the second stage is the rapid development period(1953-1970), the fast development of economic relations between two country;The third stage is thehigh stage (1970-1980), during this period the two development has entered a new stage of higheconomic relations.Thirdly, by reviewing the historical evolution of The US-Philippine economic relations,summarizes three characteristics of American economic relations: area periphery inequality is thecenter of inequality; imbalance of unbalanced trade balance; dependence refers to the Philippines inthe economic structure and foreign aid on the domestic market and policy.Finally, this paper explains The US-Philippine economic relations and the impact on Philippineeconomic development.