How Adequately Prepared Are We in Caricom for Globalization?
There continue to be wide ranging debate on the preparedness of CARICOM countries for the pending impact which globalization will have on these small developing nations. Globalization is expected to have a negative an impact on the economic, social, environmental, Industrial development of small countries. Caricom countries because of their size, population, isolation and remoteness fit into this category of countries considered to be small. If these factors are examined for there likely impact on the Caribbean Islands, they will overwhelmingly show that while some CARICOM countries has made some attempts to prepare for Globalization many if not all are still not yet prepared.
In the 1990s the concept of globalization was widely employed in academic and political debates but the meanings attributed to this term are far from consistent.
Globalization may be defined as the growing influence exerted at the local, national and regional levels by financial, economic, environmental, social, political and cultural processes that are global in scope. (Globalization and Development, 2003)
Globalization refers to the growing level of economic integration among countries. (Challenges and Opportunities of Globalization: An Action Plan for Caribbean Labor Markets, 1999)
Based on these definitions, we can identify various aspects that would need developing to keep up the globalization process. Even though the definitions have identified these areas of developments which are necessary, the major Factors which dictate the unpreparedness of the CARICOM would be that of Financial and Economical.
One of the most important aspects is the financial position of CARICOM members is of great importance in their development for globalization. We view the financial position of a state to be an aspect of their economic position.
Financial and Economical
According to (Caribbean Trade and Investment report 2000: 4) “there are various factors which combine to make small
In the 1990s the concept of globalization was widely employed in academic and political debates but the meanings attributed to this term are far from consistent.
Globalization may be defined as the growing influence exerted at the local, national and regional levels by financial, economic, environmental, social, political and cultural processes that are global in scope. (Globalization and Development, 2003)
Globalization refers to the growing level of economic integration among countries. (Challenges and Opportunities of Globalization: An Action Plan for Caribbean Labor Markets, 1999)
Based on these definitions, we can identify various aspects that would need developing to keep up the globalization process. Even though the definitions have identified these areas of developments which are necessary, the major Factors which dictate the unpreparedness of the CARICOM would be that of Financial and Economical.
One of the most important aspects is the financial position of CARICOM members is of great importance in their development for globalization. We view the financial position of a state to be an aspect of their economic position.
Financial and Economical
According to (Caribbean Trade and Investment report 2000: 4) “there are various factors which combine to make small
Bibliography: Palo Alto, Caif. 94304 Washington, DC 20433 • Challenges and Opportunities of Globalization: An Action Plan for Caribbean • Browne , J. Zamgba, “Leaders from Jamaica, Liberia, Trinidad and Barbados address 54th U.N. Assembly”, The New York Amsterdam News , October 14- October 20 1999, Page 9 • The Effects of Globalization on Caribbean Economies (2002).