Carlos Polistico Garcia
Birth: November 4, 1896
Death: June 14, 1971
In office: December 30, 1953 – March 18, 1957
He presided over the eight months of Magsaysay’s remaining term and went on to win the 1957 elections, “the noisiest and the most expensive in Philippine history.
Economic Program of the Garcia Administration:
President Garcia exercised the Filipino First Policy, for which he was known. This policy heavily favored Filipino businessmen over foreign investors. He was also responsible for changes in retail trade which greatly affected the Chinese businessmen in the country. He also made a program focused on thriftiness.
Garcia's administration was characterized by its austerity program and its insistence on a comprehensive nationalist policy. On March 3, 1960, he affirmed the need for complete economic freedom and added that the government no longer would tolerate the dominance of foreign interests (especially American) in the national economy. He promised to shake off "the yoke of alien domination in business, trade, commerce and industry." Garcia was also credited with his role in reviving Filipino cultural arts.
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