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The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2025, the Philippine economy is estimated to be at ₱29.66 trillion ($507.6 billion), making it the world's 31st largest by nominal GDP and 11th largest in Asia according to the International Monetary Fund.
In Europe, the Industrial Revolution spread from Great Britain during the period known as the Victorian Age. The industrialization of Europe created great demands for raw materials from the colonies, bringing with it investment and wealth, although this was very unevenly distributed. Governor-General Basco had opened the Philippines to this ...
Philippine external debt was at $4.1 billion in 1975 and doubled to $8.2 billion two years later. [1] Loans funded the 11 major industrial projects Marcos announced in his 1970 State of the Nation Address, as well as roads, bridges, dams, irrigation systems, communications infrastructure, power plants, and electrical transmission facilities. [2]
The term came into use around 1970, when the Four Asian Tigers [5] of Taiwan, Singapore, Hong Kong and South Korea rose to become globally competitive in science, technological innovation and economic prosperity as well as NICs in the 1970s and 1980s, with exceptionally fast industrial growth since the 1960s; all four countries having since ...
The Industrial Revolution led to a population increase, but the chances of surviving childhood did not improve throughout the Industrial Revolution, although infant mortality rates were reduced markedly. [109] [167] There was still limited opportunity for education, and children were expected to work. Employers could pay a child less than an ...
In other words, developmental states can pursue industrial policies, while regulatory states generally cannot. Governments in developmental states invest and mobilize the majority of capital into the most promising industrial sector that will have the maximum spillover effect for the society. Cooperation between state and major industries is ...
Ellen Dunham-Jones as well observes this feature of post-industrial society where "abundant goods [are] equitably distributed [in order that] laborless leisure and self-determination" can be consumed. [14] The post-industrial society is stressed to be one where knowledge is power and technology is the instrument. [9]
Industrialisation or industrialization is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive reorganisation of an economy for the purpose of manufacturing . [ 3 ]