0

We Need Financial Independence

EDITOR, The Tribune.

When I was pursuing my math education training with the University of the West Indies in the 1990's, I was taught that developed economics dealt more in manufacturing than the developing economies. For example we would sell them pineapples. They would can it and sell us back for a higher price. It is call adding value to the product.

The fact the United States’ manufacturing base has been decimated and their trade deficits and external debt has grown commensurately, suggests that industrialisation is key to financial independence.

Political independence is de jure self government while financial independence is de facto independence. If the Bahamas wants to be free and prosperous the Bahamas must obtain financial independence; If not the Bahamas will be easily pressured to be a servant of developed countries. For example look at the Derisking fiasco and the blacklisting debacle which illustrates the vulnerability of the Bahamas to the caprice of a developed country like the United States(US) and the European Union. The rivalry between the US and China will intensify. Countries like the Bahamas will become pawns in their struggle for global hegemony. Financial independence will give resilience to weather the global struggle for dominance.

BRIAN E PLUMMER

Nassau,

March 19, 2019.

Comments

Use the comment form below to begin a discussion about this content.

Sign in to comment