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The government also extended military support to Alfonso Lim, with one of his companies enlisting 150 soldiers and 50 security guards. The Philippine Military trained draftees, and Lim paid for their salaries and provided their weapons. [2] Herminio Disini, a Marcos crony known for his tobacco monopoly, also had dealings with agriculture and ...
The Labor Code and other legislated labor laws are implemented primarily by government agencies, namely, Department of Labor and Employment and Philippine Overseas Employment Agency (now the country's Department of Migrant Workers). Non-government entities, such as the trade unions and employers, also play a role in the country's labor.
The Philippine economic nosedive of 1983 traces its roots to debt-driven growth, mostly during Marcos' second term and during the earliest years of martial law. [1] By 1982, the Philippines’ debt was at $24.4 billion, [1] but it had not seen much in terms of returns because of corruption and the poor management of the crony-monopolized ...
The economic history of the Philippines is shaped by its colonial past, evolving governance, and integration into the global economy. Prior to Spanish colonization in the 16th century, the islands had a flourishing economy centered around agriculture, fisheries, and trade with neighboring countries like China, Japan, and Southeast Asia.
According to World Bank data, the Philippines' gross domestic product (GDP) quadrupled from $8 billion in 1972 to $32.45 billion in 1980, for an inflation-adjusted average growth rate of 6% per year. [40] Indeed, according to the U.S.-based Heritage Foundation, the Philippines enjoyed its best economic development since 1945 between 1972 and 1980.
This is why by law, a monopoly is defined as an entity which has significant market power, which includes the ability to charge extremely high prices and prevent the entry of competition.
Moreover, Philippine jurisprudence has long applied a rule that any doubts in the interpretation of law, especially the Labor Code, will be resolved in favor of labor and against management. The Labor Code has been amended numerous times since it was first enacted. The most significant amendment was brought about by the passage of Republic Act ...
China summoned the Philippines' ambassador on Friday to express its objection to two new laws in the Southeast Asian nation asserting maritime rights and sovereignty over disputed areas of the ...