@Revolution:Global Business News

New Economy, Leadership, Entrepreneurship, Management, Global Business

Free Trade In The Carribean

Posted by iBlog on August 9, 2007

How should the Caribbean region foster economic development? The question has long been on the minds of Caribbean leaders. Their small island states face significant hindrances to development, including modest populations, limited expanses of viable land, and insufficient capital flow. Even worse, the global shift toward free trade has hit the Caribbean hard, removing market protections of major industries like bananas. Heads of state have turned to integration of the region’s markets to increase investment and improve competitiveness. It is a smart strategy, largely because integration brings increased leverage in trade negotiations. Operating as an economic bloc, the Caribbean nations must compel WTO free-trade negotiators to approve concessions that will not force the Caribbean prematurely into global competition.

Read the full article in Harvard International Review


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