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Japan’s economy was followed by China in Asia and Germany in the world
at a glance
- Claim: The Philippines was the second richest country after Japan during the period of dictator Ferdinand Marcos.
- evaluation: error
- fact: Japan’s economy was followed by China in Asia and Germany in the world. The Philippines was ranked 11th in Asia and 30th in the world when Marcos was exiled.
- Reason for fact-checking: This post was submitted through the “The Rappler Room” and “Fact-checking in the Philippines” Facebook groups for verification. A search on CrowdTangle also turned up several Facebook posts with photos.
full details
Photos circulating on Facebook claim that the Philippines was the second richest country after Japan during Marcos’ time.
“If I stole money from people, why [was] Was the Philippines the richest country after Japan during my regimen?” the text in the photo wrote.
The photos were posted to the Facebook groups “The Rappler Room” and “Fact-checking in the Philippines” for verification.
This claim is false. Based on the main economic indicators Gross Domestic Product (GDP) and her GDP per capita, the Philippines was second only to Japan from 1965 to 1986.
When Marcos was elected president in 1965, the GDP of the Philippines was the 7th in Asia and 30th in the world, according to World Bank data.
In Asia, Japan is the second largest economy in Asia, followed by China. Japan also has her second-highest GDP per capita on the Asian continent, followed by Qatar. The Philippine GDP per capita ranks 11th in Asia.
During Marcos’ tenure, the Philippines’ GDP ranked 10th to 14th in Asia, and GDP per capita ranked 11th to 21st.
By the time Marcos was ousted in 1986, the Philippines’ GDP had fallen to 13th place, while Japan and China remained number one and number two respectively. Her GDP per capita in the Philippines also dropped him to 21st place in Asia, overtaken by countries such as Thailand and South Korea.
Meanwhile, Japan and Qatar’s GDP per capita remains the second and third largest in Asia. (Read: Marcos era marked ‘golden age’ for his PH economy? See data)
Despite the country’s economic growth in the 1960s, Hal Hill, an economics professor at the Australian National University, wrote in a 1982 paper that the Philippine GDP “is now about half that of Malaysia and one-third that of Taiwan.” Yes, and if current rates are maintained, it will be similar to Indonesia by the end of the decade.”
Gary Hawes, a professor of political science at Ohio University, attributes this to declining investment, both foreign and domestic, nepotism, and growing Filipino distrust of the Marcos government. “An authoritarian leader working an economic miracle turned into a disgraceful kleptomaniac living in exile,” he wrote.
Rappler has previously confirmed claims that the Philippines is the “richest country” in Asia.
A search on CrowdTangle revealed that this photo was posted on multiple Facebook pages and groups. A similar photo of him circulated in 2020 and was fact-checked by Agence France-Presse Philippines. – Tatiana Maligro/Rappler.com
Tatiana Maligro is an intern at Rappler. This fact her check was reviewed by members of Rappler’s research team and senior editors. Learn more about Rappler’s internship program here.
For any suspicious Facebook pages, groups, accounts, websites, articles, or photos in our network, please contact us at: factcheck@rappler.comLet’s fight disinformation fact check All at once.
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