Laurel–Langley Agreement

The Laurel–Langley Agreement was a trade agreement signed in 1955 between the United States and its former colony the Philippines. It expired in 1974. It was an amendment to the Bell Trade Act, which gave full parity rights to American citizens and businesses.^[1] Under this agreement, American citizens and businesses were able to own 100 percent of companies in any area of the economy. Lindio-McGovern argues that this served American interests while exacerbating poverty within the Philippines, and also explains why U.S. corporations control most foreign investments in the Philippines.^[1]

References

1 2 Lindio-McGovern, Ligaya (1997). Filipino peasant women : exploitation and resistance. Philadelphia, Pa.: Univ. of Pennsylvania Press. pp. 34–35. ISBN 0812234103.

Economy of the Philippines

History	Martial Law Laurel–Langley Agreement 1997 Asian financial crisis NIC Tiger Cub Economies Next Eleven Asian Century Financial crisis of 2007–08 Largest projects

Industry and Business	Agriculture Business outsourcing Energy Power plants Gambling Internet Manufacturing Radio Telecommunications Television Companies

Economic Regions	North Luzon Agribusiness Quadrangle Metro Luzon Urban Beltway Central Philippines Region Mindanao Super Region Cyber Corridor

Finance	Fiscal policy Central Bank Philippine peso Stock Exchange Billionaires

Trade and Infrastructure	Transportation Tourism Waterworks Shipping

Taxation	Tax System Bureau of Internal Revenue

Institutions	Department of Energy Department of Finance Department of Trade and Industry Action For Economic Reforms

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