Trade and Development - the Caribbean Perspective

  Nearshoring. That old concept which has attracted renewed focus and attention. In the present Covid-19 ravaged global economy, there is renewed discussions on this concept -  particularly for strategic industries such as food and medicine.  Given this, what exactly does the concept mean? What are its implications? What is the Caribbean context in this conversation? Stick around if you are interested in my responses to these questions. Nearshoring is where a country's imports or a company's purchases are sourced from geographically-closer suppliers. For example, if the Caribbean changes its supplier for medical equipment from those in the US to those in Barbados, it has engaged in nearshoring. The implications of this can include first, lower probabilities of disruption to supply chains. This is because shorter geographical distances generates lower possibilities of unexpected developments and a less complex transportation route. Second, changes in purchasing price. If ...

  The totality of something is the sum of  all its constituent parts. In that vein, lets talk about one part of CARICOM - Guyana. Isn't Guyana such a fascinating country? 🤔🤔. I think that it is😁. It is replete with natural resources, situated in South America "on the doorsteps" of huge consumer markets (for eg. Brazil) but simultaneously it has a large diaspora and its currency is among the lowest valued in the region. Nowadays? Guyana seems to be on a newsworthy streak: the discovery of oil, election stand-offs and the recent liberalisation of its telecommunication sector. Stick around if you are interested in the unpacking of some of these issues. In relation to the discovery of oil in Guyana, a plethora of narratives abound. One publication  notes the new COVID-19 induced reality which has drastically reduced oil prices and dampened growth forecasts; others restarted discussions on the resource curse  which sees resource-rich countries continue to be plagued by...