The Economist (US), May 11th, 1996
The Philippines have made substantial progress under the leadership of Pres Fidel Ramos, who succeeded Corazon Aquino in 1992 but whose term runs out in 1998. The country is still recovering from the dictatorship of Ferdinand Marcos, who looted its wealth.
ONCE upon a time there was a country at the centre of Asian trade. Its economic clout was second only to that of Japan, and it seemed perfectly capable of keeping the Taiwanese and South Koreans in their place. Nearly everyone spoke English, and maids were imported from Hong Kong. Then something went wrong, and the Philippines found itself ...
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