Forty years ago, the Philippines was the most highly developed Southeast Asian country and was considered to have a very bright economic future. However, by the 1980s and 1990s the Philippines' economy took a downturn. Please explain the factors that contributed to this nation's economic change.

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The Answer of Forty years ago, the Philippines was the most highly developed Southeast Asian country and was considered to have a very bright economic future. However, by the 1980s and 1990s the Philippines' economy took a downturn. Please explain the factors that contributed to this nation's economic change.

Forty Years Ago, the Philippines Was the Most Highly Developed