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The presidential degree allowed Philsucom to have complete monopoly of the sugar industry in the Philippines. It then created a trading arm, the National Sugar Trading Corporation (NASUTRA), which was exclusively responsible for domestic and international sugar trading. Roberto Benedicto headed both Philsucom and NASUTRA. [9]
The Philippine Competition Act (PCA) or Republic Act No. 10667 is the primary competition law of the Philippines. It aims to promote and protect market competition in the country. It protects the well-being of consumers and preserves the efficiency of competition in the marketplace. [3]
The Philippine Competition Commission is an independent, quasi-judicial body created to enforce the act. It is attached to the Office of the President of the Philippines. [6] Five commissioners were appointed to the Philippine Competition Commission and sworn in on January 27, 2015: [7] Michael G. Aguinaldo (Chairperson) Marah Victoria S. Querol
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 ...
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.
Jirat Teparaksa/Shutterstock.com. 6. De Beers. De Beers is one of the most controversial companies among the biggest monopolies of all time, which is saying something.
Foreign borrowing was a key element in Philippine development strategy during the Marcos era. The primary rationale was that "borrowed money would speed the growth of the Philippine economy, improving the well-being of present and future generations of Filipinos". [citation needed] Debt-driven growth, 1970–1983
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