What happens in the Philippines during "Great Depression" in US?

Question

Great Depression (1929) in US

1. High unemployment
2. Inflation
3. Recession
4. Over supply of goods (under demand)
5. The stock market crash

but what about Philippines?

Answer 1

The "Great Depression" was a global event so I imagine things were pretty tough here in the Philippines too. Most economist used to agree that war debts that failed following WW1 was the catalyst that broke the global banking network but this view has become politically unpopular.

Also, the Philippines was still under US occupation at that time so they suffered right along with everyone else. Being less dependent on industry, many Filipinos probably didn't even know it was going on as the Philippine economy was and is largely agricultural. There most likely was plenty here to eat but no place to send the exports. At that time the Philippines was the largest economy in SE Asia. I am sure all the banks did feel the impact as well as anyone in export.

In Summary: Filipino investors lost a good deal in the initial crash. This was probably not a factor outside of the National Capital Region or Cebu. Even today Filipinos in the provinces just do not buy that many imported goods and most do not have a bank account.

Answer 2

actually its more like this..during the great depression in the US, the filipinos here never knew what it was like there in the US..the americans had blinded the filipinos that the US can protect them coz they are poerful and that they are wealthy and all that stuff just to convince te filipinos to invest the money we were making here..not really invest but it was one way of the americans of the americans to control the philippines so that at least we could help them a little with the great depression..like devaluating the peso..let the US companies put up their businesses here since it wont work during the great depression..in short, during that time of great deprssion, it was aslso the time wherein the americans were using the philippines for their citizens to embark their businesses here using the philippines as te port and the ground for their trdings and deals with other countries by instead using the US trademark, they would hae to use the philippines name since the whole world wouldnt believe what the US can do during those times.

Answer 3

nothing much. although the philippines was under american rule, life then was more simple than today. there was no stock market and the concept of stock exchange was unheard off. people still had a lot to eat as long as there where no calamitous event to hinder the delivery of basic goods like food.

simple life and simple living.

Answer 4

"... the advent of the Great Depression in the United States in the 1930s and the first aggressive moves by Japan in Asia (1931) shifted U.S. sentiment sharply toward the granting of immediate independence to the Philippines."


p.s. nothing much indeed. i wish people would check what they're saying first instead of running after their two points.

Answer 5

during that years, phil. is under american colonial forces, but there is a great filipino-spanish politician who dreamed of free filipino, during the 30 era, nothing much happen even when US bubble burst , we are not affected.