Word: copra
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Dates: during 1980-1989
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...reform. The top tax rate has been cut from 60% to 35%, while a broad range of special exemptions has been eliminated. In the same egalitarian vein, the country's sugar and coconut monopolies, long in the hands of Marcos cronies, have been disbanded. The world price paid for copra, or coconut meat, has increased 250% in the past year; thanks to trust busting, money that once went to monopolists now goes to farmers. In the effort to purge Marcos-style cronyism from the economy, scores of nonperforming public enterprises that had languished in the hands of the former President...