CHAPTER 14

Number 1:
Senator Claro M. Recto was a prominent Filipino nationalist and politician who
advocated for economic nationalism in the Philippines. Economic nationalism is a
philosophy that emphasizes the need for a country to protect and promote its
economy and industries through policies that prioritize domestic industries and
workers over foreign interests. Recto believed that economic nationalism was
necessary for the Philippines to achieve economic independence and develop a
strong economy. He argued that the country should prioritize domestic industries
and businesses, and limit the influence of foreign businesses and investors. Recto
also believed that the government should be actively involved in promoting domestic
industries, protecting them from foreign competition, and controlling the flow of
foreign investment.
One of the strengths of Recto's economic nationalism is that it emphasizes the
importance of promoting domestic industries and businesses. This can help to create
jobs, boost economic growth, and reduce the country's dependence on foreign goods
and services. Additionally, by limiting the influence of foreign businesses and
investors, economic nationalism can help to protect local businesses from unfair
competition and exploitation. However, economic nationalism also has some
weaknesses. One weakness is that it can limit access to foreign goods and services,
which can result in higher prices for consumers and reduced access to international
markets. Additionally, economic nationalism can discourage foreign investment,
which can make it more difficult for the country to access capital and technology
needed for economic development.
In conclusion, Senator Claro M. Recto's economic nationalism emphasized the
importance of protecting and promoting domestic industries and businesses. While
economic nationalism has its strengths, it also has some weaknesses, including
limiting access to foreign goods and services and potentially discouraging foreign
investment.

Number 2:
President Carlos P. Garcia's Filipino First policy was a nationalistic economic policy
that aimed to prioritize Filipino interests in economic development. The policy
emphasized the need for the government to promote and protect Filipino-owned
businesses and industries, and to limit the influence of foreign businesses and
investors in the country. One of the strengths of the Filipino First policy is that it
promoted the development of Filipino-owned businesses and industries, which
could lead to economic growth and job creation. Additionally, the policy aimed to
limit the influence of foreign businesses and investors in the country, which could
help to prevent exploitation and unfair competition.
However, the policy also had some weaknesses. One weakness is that it could limit
access to foreign goods and services, which could result in higher prices for
consumers and reduced access to international markets. Additionally, the policy
could discourage foreign investment, which could make it more difficult for the
country to access capital and technology needed for economic development.
Another weakness of the policy is that it could lead to protectionism, which may not
be sustainable in the long run. Protectionism could lead to a lack of competitiveness
and innovation among Filipino businesses and industries, as they may not have to
face the same level of competition as their foreign counterparts.

Number 3:
Similarities:
- Both policies aim to promote economic development and self-reliance in the
Philippines.
- Both policies seek to protect local industries from foreign competition through
various means.
- Both policies focus on the use of import substitution to promote local production
of goods that were previously imported.
Differences:
- Economic nationalism, as advocated by Senator Recto, is more focused on
protecting local industries through high tariffs and trade barriers, while the policy of
President Garcia is more focused on encouraging domestic investment and
promoting exports.
- Recto's economic nationalism emphasizes the importance of limiting foreign
ownership of Philippine industries, while Garcia's policy encourages foreign
investment in the country.
- Recto's economic nationalism is seen as a more inward-looking policy, while
Garcia's policy is more outward-looking and seeks to integrate the Philippines into
the global economy through trade agreements and foreign investment.
Overall, both policies share the goal of promoting economic development and self-
reliance in the Philippines, but differ in their approach to achieving that goal. Recto's
economic nationalism prioritizes protectionism and limiting foreign influence, while
Garcia's policy is more focused on encouraging foreign investment and integration
into the global economy.