Perhaps this is the biggest blunder about Marcos:
that during his term, the Philippines enjoyed being ranked 2nd in terms of economic prosperity among Asian countries.
THE TRUTH IS, that
WE ARE ALREADY RANKED 2ND IN ASIA even before he took office in December 30, 1965.
Here are the top 5 economies in Asia in 1950 and their respective GDP per capita:
- Japan - $1,873.00
- Philippines - $1,293.00
- Taiwan - $922.00 (Technically a province of China)
- South Korea - $876.00
- Indonesia - $874.00
This fact alone tells us that we cannot attribute our economic success in the 50's and 60's to Marcos.
Contrary to what Marcos loyalists are spreading, it was during Marcos' administration that the Philippines experienced economic decline particularly in the 1970s when social unrest, corruption and cronyism were prevalent.
Here are the top 7 economies in Asia (doesn't include Middle East countries, Australia and Oceania) in 1986 and their respective GDP per capita, the year when Marcos was removed in power.
(Sources: UN Database and World Bank)
- Japan - $16,882.00
- Singapore - $6,864.00
- South Korea - $2,906.00
- Malaysia - $1,741.00
- Thailand - $813.00
- Philippines - $535.00
- Indonesia - $483.00
TANGA LANG ANG NANINIWALA NA SI MARCOS AND DAHILAN NG PAGLAGO NG ATING EKONOMIYA NOONG 1950s - 1960s. Ang LOGICAL na tao ay mapapaisip. Bakit nag-umpisang bumagsak ang Pilipinas noong kapanahunan nya?
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