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during the spanish period, the philippines was among the poorest and most backward of european colonies. however, in the first decades of the american period, the philippines was one of the fastest-growing economies of the world, and the people had a very high standard of living. life expectancy was high, health was good, and the philippines enjoyed a high literacy rate and a fairly advanced system of schools. the people were proud of their spanish heritage, which was evident in the number of filipinos who had graduated from the university of santo tomas in the first half of the 20th century.
another aspect of the country's history that has had a major impact on the way filipino society is organized is the american period. in the first years of the american period, the country was a colony of the united states. in the second half of the 20th century, it has been a developing country and a member of the association of southeast asian nations (asean). the philippines became a republic in 1946, and the country was finally granted independence in 1946. however, the united states remained the dominant economic power in the country until 1972. the country was thus under u.s. hegemony and influence until 1972. during this period, the philippines became the second most-industrialized country in asia after japan, and its economy developed significantly. its manufacturing and industrial output was second only to japan's in the 1950s, and its mining output was one of the highest in the world in the 1950s. the philippines was among the top 10 exporting countries in the world in the 1950s. 84d34552a1