ABSTRACT
The Philippines is now emerging from a difficult political transition period. The long, troubled years of Ferdinand Marcos’ rule gave way in 1986 to Cory Aquino’s “People Power” revolution. Although Aquino will be remembered for a commitment to democratic principles and putting in place a foundation for economic revival, her term in office was a turbulent time, marked by seven coup attempts, continued problems with the communist insurgency, severe energy shortages, staggering natural disasters, and a profound change in the country’s relationship with its main ally, the United States. Under President Fidel Ramos, Aquino’s successor elected in 1992, political stability has been restored and the country finally appears to be poised to move from economic laggard to economic performer, achieving a respectable growth rate of about 3.5 percent in 1994 and possibly more than 6 percent in 1995 (compared with −1 percent in 1991). In the postbases era, the United States and the Philippines are slowly redefining and rebuilding their relationship. Both sides appear to be heading toward what could be characterized as more “normal” bilateral ties and a new partnership that stresses mutual economic interests and is less focused on security issues.
