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THE ECONOMIC BACKGROUND OF RIZAL'S TIMe
THE ECONOMIC BACKGROUND OF RIZAL'S TIMe
*Year Event
1848 Steam navigation
1851 Mail service with Hong Kong
1854 First commercial bank
1869 Opening of Suez Canal
1872 Telegraph service in Manila and Cavite
1873 Direct steamship service to Spain
1882 Obliteration of tobacco monopoly
Manila’s municipal water system
1888 Manila-Malabon steam tramway
1890 Telephone system in Manila
San Miguel Brewery
1892 Manila-Dagupan railroad
- La libertad de comercio en las Islas Filipinas by Manuel Azcarraga y Palmero
- Important in the establishment of free trade in the Philippines
- On education, Philippines ahead of most colonies with higher literacy rates than that of Spain
- Sustained efforts by the Catholic Church
- Higher education was possible in the Philippines
- Philippine Revolution a revolt of the Ilustrados [Nick Joaquin]
- Aspired to be a part of European legislature
- By the end of 19th century, Philippine foreign trade accounted for 36 percent of GDP
- Sector with greatest progress and innovation in most countries including Philippines
IV. Conclusion
- Rizal’s life fell within the first age of globalization at the world level
- Level of empire, Spain failed to participate in the Philippine economy, leaving it to foreigners
- National level, Philippines greatly expanded its volume of foreign trade
- 19th century had the economic foundation for national independence