I agree with mixed economy because mixed economy will always protect the private property and it will give room for capital freedom in the economy.
<h3>What is economic system?</h3>
Economic system is a type of system of production in which resources produced in a location are allocated and also distribution of goods and services are carried out within a geographic area.
Therefore, I agree with mixed economy because mixed economy will always protect the private property and it will give room for capital freedom in the economy.
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I think the common between low-latitude countries would be people's skin color and If you compare the Philippines and its neighboring countries, they have more or less similar physical attributes. Typical Filipinos looked similar with Indonesians.
For Southeast Asia, i would also consider religion is common between the two. Both the Philippines and the other Southeast Asian countries such as Indonesia, Malaysia, and Thailand, they have a large number of Muslim settlers while other tropical countries in South America, these countries have similar Spanish ancestry just like the Philippines.