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The Marcos administration created the Philippine Exchange Co. (Philex), a government entity that takes charge of all international trading of sugar. Philex solely took charge of exporting US and foreign-bound sugar. They bought locally manufactured sugar at a low price of $19.75 per picul, then sold it to the United States for $69.25. [2]
[1] [5] Since the Philippines was unaffected by World War I, capital formation intensified and prices increased for Philippine commodities. Eventually, the pricing bubble of these commodities burst after the war. [6]: 231-232 Due to the collapse of commodity prices immediately after World War I, this caused a major loss for the companies. This ...
The Philippines' exports income had begun growing in the early 1970s due to an increased global demand for raw materials, including coconut and sugar, [1] [15] and the increase in global market prices for these commodities coincided with the declaration of martial law, allowing GDP growth to peak at nearly 9 percent in the years immediately ...
The richest 10 percent, meanwhile, took a larger share of the income at 41.7 percent in 1980, up from 37.1 percent in 1970. [61] According to the FIES (Family Income and Expenditure Survey) conducted from 1965 to 1985, poverty incidence in the Philippines rose from 41 percent in 1965 to 58.9 percent in 1985. This can be attributed to lower real ...
In economics, a government-granted monopoly (also called a "de jure monopoly" or "regulated monopoly") is a form of coercive monopoly by which a government grants exclusive privilege to a private individual or firm to be the sole provider of a good or service; potential competitors are excluded from the market by law, regulation, or other mechanisms of government enforcement.
It reported $8.3 billion of services and other automotive revenue in 2023, accounting for 9% of its $96.8 billion total revenue. Vehicle sales totaled $78.5 billion.
Google’s payments have helped Apple’s steadily growing services division, which generated $85 billion in revenue during the company’s last fiscal year. Apple didn’t immediately respond to ...
The US Justice Department filed a lawsuit Tuesday accusing Visa of illegally monopolizing the debit card market.