Coconut before the entry UNICOM to the coconut business, the foreigners control of the coconut industry is almost total. Agricultural Inputs: fertilizers, pesticides, herbicides, tractors, threshers. The foreign are likewise supreme. Corporate Farming in conjunction with its drive for increased production in rice through the use of HYVs, irrigation, fertilizers, insecticides, tractors, the government introduced Corporate Farming in 1974 General Order no.47 requires all corporation w/ at least 500 employees to engage in the production of rice allowing firms to acquire plantations for this end * Corn in accordance w/ World Bank desires, the government increased production of feedgrains. The government launched the Masaganang Maisan in 1974 – 1974 major copra export
Coffee became an export item with the incentives provided for by the martial law regime * Non-roasted coffee no. 15 export in 1983. Palm oil new industry in the Philippines, the martial law regime developed it Cattle and meat processing expansion by the martial law regime under the World Bank * King Ranch (Foreign) biggest cattle ranch 1975 in Palawan PIMECO- Philippine Integrated Meat Co. 1975 has the largest and most modern meat canning and processing in South East Asia and has 20% equity of American corporations RFM- Republic Flour Mills Filipino-American company license by Swift and Co. Wood always been on the top 10 export of the Philippines * PICOP- Paper Industries Corporation of the Philippines among the biggest logging concessionaires in the Philippines
Industrial Free Farming- the martial law regime new field of investment for the local and foreign capitalist * Kaingin the Philippine have become deforested.
Fishing- the Philippines is rich in fishing resources. Its total fishing ground is 212,160,231 hectares of sea and fresh water with 2,400 diff. kinds of fish, etc. * Semi Conductors devices that were never an export product before the martial law. It has become the no.1 export in 1981-1983. Garments were never in the top 10 exports of the country but because of the World Bank it became no.2 in 1983. 4 of the biggest garment firm in the Phil. are 99.6-100% are foreign owned -Levi Strauss Industries. –Gelmart Industries. –Novelty Philippines. –Amco Holdings Ltd. Oil business is a monopoly of the government and 4 American Oil Firms. The American firms have 65.50% of the share and the Philippine National Oil Corporation’s Petrophil has 34.50% -Caltex Philippines Inc. 27%. –Filipinas Shell 21.05%. – Mobil 16.71%. –Basic Landoil 0.74%
The Drug Industry of the Philippines has 2 characteristics: 1.) It is under almost total foreign control; 2.) It is not a true drug industry, but at best an importing-compounding and packaging business. Foreign drug companies control 70% of the drug market. * Tourism the martial law regime promotes tourism. The tourism industry is likewise under control of foreign big business * Free Trade Policy helps perpetuate the agrarian character of the Philippine Economy * Tariff Reduction foreign imports are allowed to enter the Philippine market in unlimited quantity * Export Oriented Industrialization- in another World Bank dictated policy that stunts true Philippines Industrialization
Devaluation hinders the Philippines Industrialization
Article 5 – Other Effects. Ruin of Local Firms and Unemployment the lowering of the tariffs and the devaluation of the peso resulted in the ruin and collapse of many Filipino firms. Because of the said difficulties thousands and thousands of workers have been laid off. In 1980 the officially reported laid offs numbered 69,611 people Inflation is another effect of the World Bank dictated policies of the Philippine government. In the 1950s and the early 1960s, inflation was quite mild with a mere 2.2% average annual increase of prices in the first and 4.5% in the latter. But today inflation is the most common and the most persistent topic of conversation. Inflation became much worse as a result of the economic upheaval on the occasion of the assassination of Benigno Aquino, in August 1983. At this period prices of goods jumped to levels never experience since World War II