One of the most significant changes was the introduction of new crops, such as tobacco, indigo, and sugar, which were exported to Europe and other colonies. This led to the growth of plantation agriculture and the establishment of large estates owned by Spanish and mestizo (mixed-race) landowners. Many Filipinos were forced to work on these plantations as tenants or laborers, which often resulted in debt peonage and exploitation.
The Spanish also established a cash economy, which replaced the traditional barter system. This meant that Filipinos had to earn money to pay taxes and buy basic necessities. However, the lack of economic opportunities and the high taxes imposed by the Spanish government often led to widespread poverty and indebtedness.
Additionally, the Spanish colonial government imposed high taxes and forced labor on Filipinos, which were used to fund their military campaigns and other colonial projects. The forced labor system, known as the "encomienda," required Filipino men to work for a certain number of days each year on public works projects or on the lands of Spanish officials.
Overall, these economic changes had a significant impact on the lives of Filipinos during the Spanish colonial period. While some benefited from the new economic opportunities, many more were exploited and oppressed by the Spanish colonial government and the wealthy landowners who profited from the new industries.
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