The Aftermath of World War II (1946-1949)
Philippine Economy (POST-WAR)
- Approximately P40 billion invested to re-construct physical capital
- Struggle to rebuild.
- Foreign aid flowing, $803 million from the US (debt).
Philippine Rehabilitation Act of Tydings Act
- On April 30, 1946, the Philippine Rehabilitation or the Tydings Act of 1946, passed by the US Congress, was approved by the US President.
- Act created the US Philippine War Damage Commission.
- Authorized it to expend a total of $400,000,000 in payment of private war-damage claims and another $120,000,000 for the restoration of public property.
- Provided for the transfer of $100,000,000 surplus property of the United States to the Philippines.
Bell Trade Act
- prohibited Philippines from protecting new industries, manufacturing or selling products that may be in competition with US goods.
- no import duties for US products
- pegging of peso to dollar at P2:$1 rate.
- Parity Clause allowing US citizens and corporations access to natural resources and operation of public utilities.
Executive Order No. 94
- On October 4, 1947, obtained surplus equipment and supplies from the Surplus Property Commission.
- The Government Telephone Service, inaugurated on January 15, 1949, obtained practically all its equipment from the surplus.
- The Commission, headed by Frank A. Waring as its chairman, completed their final report in 1951 and disbanded.
- DEPENDENT INDEPENDENCE (POST WAR REPUBLIC)
- World War 2 and the Japanese Occupation in the Philippines
- End of World War 2
- The Aftermath of World War II (1946-1949)
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Executive Order No. 94, s. (October 1947). Reorganizing the different executive departments. Retrieved from http://www.officialgazette.gov.ph/1947/10/04/executive-order-no-94- s-1947/
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