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Laurel–Langley Agreement
The Laurel–Langley Agreement was a trade agreement signed in 1955 between the United States and its former colony the Philippines. It expired in 1974. It was an amendment to the Bell Trade Act, which gave full parity rights to American citizens and businesses. Provisions The Laurel-Langley Agreement ended the free American market for sugar produced in the Philippines; it had been, before the agreement, exported to the U.S. duty-free. After the 1960s, exports from the Philippines increased significantly due to the American embargo against Cuba. The agreement also ended the authority of the United States to control the exchange rate of the Philippine peso The peso is the monetary unit of several countries in the Americas, and the Philippines. Originating in the Spanish Empire, the word translates to "weight". In most countries the peso uses the same sign, "$", as many currencies named "dollar" .... Up until the agreement, it had been pegged to the American dollar at ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Agreement
A trade agreement (also known as trade pact) is a wide-ranging taxes, tariff and trade treaty that often includes investment guarantees. It exists when two or more countries agree on terms that help them trade with each other. The most common trade agreements are of the preferential and free trade types, which are concluded in order to reduce (or eliminate) tariffs, quotas and other trade restrictions on items traded between the signatories. The logic of formal trade agreements is that they outline what is agreed upon and the punishments for deviation from the rules set in the agreement. Trade agreements therefore make misunderstandings less likely, and create confidence on both sides that cheating will be punished; this increases the likelihood of long-term cooperation. An international organization, such as the IMF, can further incentivize cooperation by monitoring compliance with agreements and reporting third countries of the violations. Monitoring by international agencie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territories, nine Minor Outlying Islands, and 326 Indian reservations. The United States is also in free association with three Pacific Island sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Republic of Palau. It is the world's third-largest country by both land and total area. It shares land borders with Canada to its north and with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the most populous country in the Americas and the third most populous in the world. The national capital of the United States is Washington, D.C. and its most populous city and principal financial center is New York City. Paleo-Americ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philippines
The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republika sang Filipinas * ibg, Republika nat Filipinas * ilo, Republika ti Filipinas * ivv, Republika nu Filipinas * pam, Republika ning Filipinas * krj, Republika kang Pilipinas * mdh, Republika nu Pilipinas * mrw, Republika a Pilipinas * pag, Republika na Filipinas * xsb, Republika nin Pilipinas * sgd, Republika nan Pilipinas * tgl, Republika ng Pilipinas * tsg, Republika sin Pilipinas * war, Republika han Pilipinas * yka, Republika si Pilipinas In the recognized optional languages of the Philippines: * es, República de las Filipinas * ar, جمهورية الفلبين, Jumhūriyyat al-Filibbīn is an archipelagic country in Southeast Asia. It is situated in the western Pacific Ocean and consists of around 7,641 islands t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bell Trade Act
The Bell Trade Act of 1946, also known as the Philippine Trade Act, was an act passed by the United States Congress specifying policy governing trade between the Philippines and the United States following independence of the Philippines from the United States. The United States Congress offered $800 million for post World War II rebuilding funds if the Bell Trade Act was ratified by the Philippine Congress. The specifics of the act required the 1935 Constitution of the Philippines be amended. The Philippine Congress approved the measure on July 2, two days before independence from the United States of America, and on September 18, 1946 approved a plebiscite to amend the Constitution of the Philippines. Authored by Missouri Congressman C. Jasper Bell, the Bell Trade Act required: * Preferential tariffs on US products imported into the Philippines; * A 2:1 fixed exchange rate between the Philippine peso and the United States dollar; * No restrictions on currency transfers from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sugar
Sugar is the generic name for sweet-tasting, soluble carbohydrates, many of which are used in food. Simple sugars, also called monosaccharides, include glucose, fructose, and galactose. Compound sugars, also called disaccharides or double sugars, are molecules made of two bonded monosaccharides; common examples are sucrose (glucose + fructose), lactose (glucose + galactose), and maltose (two molecules of glucose). White sugar is a refined form of sucrose. In the body, compound sugars are hydrolysed into simple sugars. Longer chains of monosaccharides (>2) are not regarded as sugars, and are called oligosaccharides or polysaccharides. Starch is a glucose polymer found in plants, the most abundant source of energy in human food. Some other chemical substances, such as glycerol and sugar alcohols, may have a sweet taste, but are not classified as sugar. Sugars are found in the tissues of most plants. Honey and fruits are abundant natural sources of simple sugars. Suc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Embargo Against Cuba
The United States embargo against Cuba prevents American businesses, and businesses organized under U.S. law or majority-owned by American citizens, from conducting trade with Cuban interests. It is the most enduring trade embargo in modern history. The US first imposed an embargo on the sale of arms to Cuba on March 14, 1958, during the Fulgencio Batista regime. Again on October 19, 1960, almost two years after the Cuban Revolution had led to the deposition of the Batista regime, the US placed an embargo on exports to Cuba except for food and medicine after Cuba nationalized the US-owned Cuban oil refineries without compensation. On February 7, 1962, the embargo was extended to include almost all exports. The United Nations General Assembly has passed a resolution every year since 1992 demanding the end of the US economic embargo on Cuba, with the US and Israel being the only nations to consistently vote against the resolutions. , the embargo is enforced mainly through the Tradi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exchange Rate
In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of the euro. The exchange rate is also regarded as the value of one country's currency in relation to another currency. For example, an interbank exchange rate of 114 Japanese yen to the United States dollar means that ¥114 will be exchanged for or that will be exchanged for ¥114. In this case it is said that the price of a dollar in relation to yen is ¥114, or equivalently that the price of a yen in relation to dollars is $1/114. Each country determines the exchange rate regime that will apply to its currency. For example, a currency may be floating, pegged (fixed), or a hybrid. Governments can impose certain limits and controls on exchange rates. Countries can also have a strong or weak currency. There is no agreement in the econ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philippine Peso
The Philippine peso, also referred to by its Tagalog name ''piso'' (Philippine English: , , plural pesos; tl, piso ; sign: ₱; code: PHP), is the official currency of the Philippines. It is subdivided into 100 ''sentimo'', also called centavos. The Philippine peso sign is denoted by the symbol "₱", introduced under American rule in place of the original peso sign "$" used throughout Spanish America. Alternative symbols used are "PHP", "PhP", "Php", or just "P". The monetary policy of the Philippines is conducted by the Bangko Sentral ng Pilipinas (BSP), established on July 3, 1993, as its central bank. It produces the country's banknotes and coins at its Security Plant Complex, which is set to move to New Clark City in Capas, Tarlac."Overview of the BSP" Bangko Sentral ng Pilipinas (BSP) Official Website. Retrieved on October 1, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fixed Exchange Rate System
A fixed exchange rate, often called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed or pegged by a monetary authority against the value of another currency, a basket of other currencies, or another measure of value, such as gold. There are benefits and risks to using a fixed exchange rate system. A fixed exchange rate is typically used to stabilize the exchange rate of a currency by directly fixing its value in a predetermined ratio to a different, more stable, or more internationally prevalent currency (or currencies) to which the currency is pegged. In doing so, the exchange rate between the currency and its peg does not change based on market conditions, unlike in a floating (flexible) exchange regime. This makes trade and investments between the two currency areas easier and more predictable and is especially useful for small economies that borrow primarily in foreign currency and in which external trade forms a large part of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treaties Of The Philippines
A treaty is a formal, legally binding written agreement between actors in international law. It is usually made by and between sovereign states, but can include international organizations, individuals, business entities, and other legal persons. A treaty may also be known as an international agreement, protocol, covenant, convention, pact, or exchange of letters, among other terms. However, only documents that are legally binding on the parties are considered treaties under international law. Treaties vary on the basis of obligations (the extent to which states are bound to the rules), precision (the extent to which the rules are unambiguous), and delegation (the extent to which third parties have authority to interpret, apply and make rules). Treaties are among the earliest manifestations of international relations, with the first known example being a border agreement between the Sumerian city-states of Lagash and Umma around 3100 BC. International agreements were used in so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of The Philippines
The economic history of the Philippines chronicles the long history of economic policies in the nation over the years. 1973–1986 After experiencing years of positive growth, the Philippine economy between 1973 and 1986 suffered a downturn due to a mixture of economic mismanagement and political instability amidst a global economic recession. Declaration of martial law President Ferdinand E. Marcos declared martial law in the midst of rising student movements and an increasing number communist and socialist groups lobbying for reforms in their respective sectors. Leftists held rallies to express their frustrations to the government, this restiveness culminating in the First Quarter Storm, where activists stormed Malacañang Palace only to be turned back by the Philippine Constabulary. This event in particular left four people dead and many injured after heavy exchanges of gunfire. There was further unrest, and in the middle of the disorder on September 21, 1972, Marcos i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treaties Of The United States
This is a list of treaties to which the United States has been a party or which have had direct relevance to U.S. history. Pre-Revolutionary War treaties Before the United States Declaration of Independence in 1776, the sovereign of the United Kingdom and the leaders of various North American colonies negotiated treaties that affected the territory of what would later become the United States. * 1638 - Treaty of Hartford (1638) * 1646 – Treaty of 1646 * 1677 – Treaty of 1677 * 1701 – Nanfan Treaty * 1722 – Great Treaty of 1722 * 1726 – Deed in Trust from Three of the Five Nations of Indians to the Chancellor * 1744 – Treaty of Lancaster * 1752 – Treaty of Logstown * 1754 – Treaty of Albany * 1758 – Treaty of Easton * 1760 – Treaty of Pittsburgh * 1763 – Treaty of Paris * 1768 – Treaty of Hard Labour * 1768 – Treaty of Fort Stanwix * 1770 – Treaty of Lochaber * 1774 – Treaty of Camp Charlotte U.S. international treaties These are treaties that t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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