This article aimes at summarizing Renato Constantino's idea of the present conditions and future prospect of the Philippines. The article is divided into five parts: 1) Introduction; 2) The Present Conditions of the Philippines; 3) The Japanese Economic Invasion to the Philippines; 4) The Philippine Nationalist Alternative; and 5) Summary. Constantino argues that the various problems Philippine society faces today, such as mass poverty and underdevelopment, result from the country's neocolonial status. Although the country had attained political independence after World War IIher economy has been dominated by the transnational corporations of the U. S., Western Europe and Japan. Constantino expects the future Philippine society to be equal, progressive and free for all citizens, and free from any forms of oppression and exploitation. However, the determination of such final goals must be taken place after the defeat of the principal enemy, that is imperialism. So, the general objective at the present time must be an economy controlled by Filipinos. In the struggle against imperialism, there is a great need for escalation of consciousness of the masses. Because of the present weaknesses of the labor and peasant sectors, however, progressive petty bourgeois elements must draw the leadership of educational campaign for nationalism.