IOTL, the Philippines declared independence in the middle of the Spanish Civil War soon after it became obvious to Governor-General Francisco Franco that the Falangist coup had failed. The General--soon to declare himself Generalissimo--managed to maintain independence due to the Anglo-French wariness of Soviet influence in Spain, but made the mistake of joining the Greater East Asian Co-Prosperity Sphere in exchange for economic aid. However, by 1944, he was overthrown by the Guerrillas who had been fighting the Spanish since c. 1900, who had gradually drifted towards the Left over the past decades, though U.S. Marines intervened by the end of the year to stabilize the situation. After the war ended, the US quickly organized elections, which they tried to rig in favor of pro-Western candidates, but suffered the embarrassment of the Filipino League of Communists winning the clear majority in the election, by a large enough margin to amend the constitution into a one-party state. Of course, as we all know, the Filipinos spent a great deal of effort funding the Marxists in Indonesia, resulting in a long period of civil war and military dictatorship there, though by 1985 or so both countries had become liberal democracies and were both founding members of ASEAN.
However, the Filipino experience may have changed the Cold War greatly for the better, teaching the US lessons that enabled it to keep the moral high ground as the Soviets held on to power in the Warsaw Pact by any means necessary. Eisenhower crushed the dreams of the British to overthrow Mossadegh, fearing a repeat of the Filipino debacle, resulting in a flourishing Middle Eastern democracy. Who knows how much less stable the Middle East might have been had it not been for the "Alliance of the Periphery" formed between Israel, Iran, and Turkey, which successfully fostered the development of democracy in the region? Furthermore, there are rumors that the United Fruit Company attempted unsuccessfully to have the US launch a coup against Jacobo Arbenz, the great Guatemalan reformer. As it were, Eisenhower expressed support for Arbenz, leading the Cuban Revolutionaries to pledge their support to a democratic constitution and--under President Guevara--quickly renew the US-Cuban partnership. It seems, therefore, that the lessons of the Philipines were well learned, with the US avoiding excessive foreign meddling in electoral politics (well that and the fact that Italy, after all, despite a brief flirtation with Communist governance, never joined the Warsaw pact).
So, had the USA taken the Philippines, it is likely they would have re-annexed the territory and never learned those lessons. Any one of those coups could have had a disastrous butterfly effect, and whilst I find it unlikely that the Soviets would have survived much past their dissolution in 1985 had the coups took place, America's moral prestige and therefore soft power would have taken a major hit.