Letters to the Editor

Financial independence

Thursday, March 21, 2019

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Dear Editor,

When I was pursuing my maths education training with The University of the West Indies in the 1990s I was taught that developed economies 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 called 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 Jamaica wants to be free and prosperous it must obtain financial independence. If not, Jamaica will be easily pressured to be a servant of developed countries. For example, look at the de-risking fiasco and the blacklisting debacle which illustrates the vulnerability of Jamaica to the caprice of developed countries like the United States and the members of the European Union.

When the rivalry between the US and China intensifies, countries like Jamaica will become pawns in their struggle for global hegemony.

Financial independence will give resilience to weather the global struggle for dominance.

Brian E Plummer

brianplummer@yahoo.com


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