St Kitts reflects Caribbean’s financial woes - FT.com
This is practically economic colonialism. The nations of the Caribbean have very few competitive advantages due to the lack of unique natural resources. The sugar industry has collapsed in St. Kitts and Barbados due to the advent of artificial sweeteners, everyone exports tropical fruit, and the oil that exists in Trinidad is too small to really have in impact on the country financially. It seems we are stuck in a financial deadlock that only a technological innovation can break. Unfortunately, the money necessary to carry out the research for a breakthrough would have to come from the same countries that are trying to do it themselves. It seems that even after 50 years of independence for Trinidad and Jamaica, Britain and the USA still have a major if not definitive say in the futures of their economies.
No comments:
Post a Comment