What is the brief history of business in the Philippines?

The history of business in the Philippines dates back to pre-colonial times, with indigenous trade networks and barter systems. The arrival of Spanish colonizers in the 16th century introduced a mercantile economy focused on agriculture, mining, and trade with other countries. The American colonial period in the early 20th century further modernized the economy, promoting infrastructure development and American-style capitalism. Post-independence, the Philippines experienced periods of growth and challenges, including martial law and economic crises, leading to ongoing efforts in entrepreneurship and foreign investment in recent decades.