1.

THE ECONOMIC IMPACT OF THE 1986

EDSA PEOPLE POWER REVOLUTION
In 1985, the core indicators of the economy reflected a severe downturn
that affected a large portion of the population. The downturn began in 1983
and quickly escalated into an economic crisis. For the past years, the
Philippine economy has shrunk by 7.3 percent. Inflation reached a high of 50%
in 1984 and 23% in 1985, pushing lending rates to around 27% in 1984 and 28%
in 1985. The unemployment rate had risen to 13%. The weak economy also saw
capital flight with the peso devaluing by 50% in 1984 and another 11% in 1985,
leaving a foreign exchange reserve of only about $1 billion, enough to cover
two months of imports. People were looking for a way out of the current
economic situation. We knew people who had moved to other countries. We also
saw our own company fail as a result of the rising cost of borrowing. We were
aware that some people had lost their jobs. While the Filipino-Chinese
community in Chinatown continued to go about their business. In a nutshell,
there is a success and failures in EDSA Revolution, but then I am not against
to yellow party. I found the great success of the EDSA bloodless revolution
through nonviolent, passive resistance and Corazon C. Aquino's election to
the presidency was that it was a mass movement that was relatively bloodless.
It was a protest movement against the dictatorship that demonstrated that
large numbers of people can change the power structure. Social activists and
human rights advocates, the Catholic and Protestant Churches, and political
dynasties in exile all worked to motivate and fund the middle class. On the
other hand, the revolution's serious flaw and failure were that it was not a
"revolution," but rather the return to power of exiled dynastic families who
had lost economic power and plotted Marcos' downfall from abroad. It was not
a revolution like the historical revolutions of France, Russia, China, and
Cuba, which were violent and ideological, supported by the poor, oppressed,
and hungry masses, and led by communists and other political groups.
Aquino's arrival was the symbolic return of the traditional ruling elite and
the dynastic families to challenge Marcos and claim what they believe was
their “rightful privileges and entitlement.

2. AS A FILIPINO CITIZEN, WHAT DO YOU THINK

CAN YOU CONTRIBUTE TO THE COUNTRY AND
WHAT SPECIFIC CHANGES OR IMPROVEMENT
WOULD YOU LIKE TO SEE IN THE FUTURE?

The first option I considered for contributing to the country is to

become an entrepreneur it may create job opportunities, provide a service to
those in need, and has the potential to generate cash flow in your industry.
Then simply ordering for takeout; ordering takeout for every meal is not a
realistic option for most individuals and families. But once a week for
takeout? That is something that most people can do. Allowing the experts to
prepare your dinner helps the economy because the restaurant industry has
been among the hardest hit during the pandemic. Follow traffic rules. And I
will be a responsible commuter or pedestrian. I will be continuing being
punctual and do not procrastinate. And the only changes or improvements I
would like to see in the future is the country's transformation into a
prosperous middle-class society free of poverty and laying a firmer
foundation for more inclusive growth, a trust-filled and resilient society,
and a globally competitive knowledge economy.