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In many ways the survival of the Philippine economy depends on the united States. We purchase almost all of the sugar exports, most of the coconut oil, embroidery, at least half of the base metals, and a fourth of the lumber. The United States supplies most of the Philippine imports of machinery, dairy products, cotton, papers, drugs, automobiles and much or the petroleum products. Although countries like Japan, Canada Australia, and New Zealand are getting more and more involved in trade with the Philippines, America remains to be the Philippines most important trading partner.
When America acquired the Philippines and established free trade in 1909, the economy of the islands was tied to that parent country...
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