The Philippines is a country of archipelago in Southeast Asia. The islands became a Spanish colony during the 16th century, and were ceded to the United States in 1898 following the Spanish-American War. The Philippines fell under Japanese occupation during World War II, and U.S. forces and Filipinos fought together in 1944-45 to regain control. In 1946 the Philippines attained its independence under a U.S.-style constitution. Although the country has remained a democracy, it has experienced periods of political instability since independence. Two presidents were forced from office by "people power" in the space of 15 years. The 20-year rule of Ferdinand Marcos ended in 1986; the people power movement forced him into exile and installed Corazon Aquino, wife of the assassinated opposition leader Benigno Aquino, as president. Her presidency was hampered by several coup attempts, which prevented a return to full political stability and economic development. Fidel Ramos was elected president in 1992 and his administration was marked by greater stability and progress on economic reforms. President Joseph Estrada was then elected president in 1998, but was forced out of office in 2001 by another people power movement after months of protests of his corrupt rule. Estrada was succeeded by his vice president, Gloria Arroyo, who has since faced a number of coup attempts against her. Once boasting one of the region's best-performing economies, the Philippines’ per capita GDP growth has lagged behind fast-growing East Asian economies as of late. With high population growth, the country is saddled with a large public debt and limited financial resources. The economy is also marked by great disparities in ownership of assets and in income, with tens of millions of people living in poverty.