Your question: What was the general economic plan of General Basco for the Philippines?

What was the economic policy of Gov Gen Jose Basco and how did he try to encourage economic production?

He established the basis for the massive growth of Philippine agricultural export, with a policy of tolerance toward (theoretically) illegal activity of foreign retailers, mainly the English and North Americans, who went to Manila to complete their product shipments.

How did the Philippines benefit from the galleon trade?

The Manila galleon trade made significant contributions to colonial Spanish culture. It helped to fashion the very society of the Philippines, which relied upon its income, its merchandise, and the services of Chinese, Malay, and other participants.

Why did Governor General Jose Basco establish Royal Philippine company?

The main goal of the company was to establish commercial relations among the different colonies, and also between the colonies and Spain; to supply Manila with the products of Europe, and, in return, to carry to Spain not only the products of the Philippines, but also the merchandise coming from the Oriental countries.

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What was Governor General Basco’s economic plan for the Philippines and was it an advantageous strategy?

Answer: Filipino farmers and traders finally had a taste of prosperity when Governor General Jose Basco y Vargas instituted reforms intended to free the economy from its dependence on Chinese and Mexican trade. Basco implemented a “general economic plan” aimed at making the Philippines self sufficient.

Why is it called galleon trade?

The name of the galleon changed to reflect the city that the ship sailed from. The term Manila galleon can also refer to the trade route itself between Acapulco and Manila, which lasted from 1565 to 1815.

What is galleon trade Philippines?

The Galleon Trade was a government monopoly. Only two galleons were used: One sailed from Acapulco to Manila with some 500,000 pesos worth of goods, spending 120 days at sea; the other sailed from Manila to Acapulco with some 250,000 pesos worth of goods spending 90 days at sea.

How many Chinese are in the Philippines?

There are 900,000 to one million ethnic Chinese in the Philippines, roughly 1.2% to 1.5% of the total Philippine population. Half of this number live in the urban area of Metro Manila; the other half is scattered in other major urban centers, such as Cebu, Iloilo, Davao, and Bacolod.

How did the galleon trade affect Philippine economy?

The galleon trade had a negative effect on economic development in the Philippines, since virtually all Spanish capital was devoted to speculation in Chinese goods. … The importance of the trade declined in the late 18th century as other powers began to trade directly with China.

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Who introduced Islam in the Philippines?

The Moro people of Mindanao and Sulu have been warlike from time immemorial. Islam was introduced about the year 1450 by Abu Bakr who claimed to be a direct descendant from Mohammed and who declared himself Sultan of the Moros.

How many years did Spanish rule last in the Philippines?

On June 12, 1898, Emilio Aguinaldo declared the Philippines independent from Spain and proclaimed himself president. After ruling for 333 years, the Spaniards finally left in 1898 and were replaced by the Americans who stayed for 48 years.