ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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THE PHILIPPINES-Political Economy of Crisis

Political Economy of Crisis Mimi Brady Henry Holland IT is often lamented in Manila that when the US economy catches a cold, the Philippines is hospitalised with pneumonia. With the entire global economy currently anguishing in crisis, a virulent case of pneumonia is wracking the Philippine economy


there is enough warning of an impending disaster), up to 70 per cent of the 'risk population' in the United States could be evacuated in one day and as many as 90 to 95 per cent in two to three days. And they believe that with adequate evacuation plans "casualties [from a nuclear attack] can be reduced to 30 per cent dead."9 In their search for "rational' nuclear doctrines, some people even talk of a theatre or tactical nuclear war confined to Europe. In an unguarded moment, even President Reagan implied this possibility some time ago, notwithstanding the subsequent attempts by his advisers to .dilute or deny its import.10 However, if one goes by oft-repeated Soviet declarations

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