PM blames unrestricted globalisation for hardship

Prime Minister Dr. Ralph Gonsalves has blamed the ‘animal’ called Unrestricted Globalization for economic hardships that Caribbean territories are experiencing.{{more}}

Gonsalves, delivering the feature address at the 16th Triennial Congress of the Caribbean Congress of Labour on Tuesday at the Methodist Church Hall in Kingstown said that the Caribbean is suffering today, because of the increasing price of oil and other commodities.

“Right now the price of gasoline should not be as high as it is,” Gonsalves declared to the delegates.

“Now they decided that they going to produce Ethanol from corn. The corn which feeds people is now going to feed cars… Last year January a bushel of yellow corn cost US$1.86, this year February and rising it costs US$ 3.98.”

“The corn feeds the cattle from which you get the beef. The corn feeds the cow from which you get milk, and the milk makes cheese, and the corn feeds the chicken, and that is why the price of beef gone up, the price of milk gone up, the price of chicken and cheese gone up, and it gone up because there is a mad haste in the world to use corn to feed vehicles instead of feeding poor people and that is the reality we have before us.”

The Prime Minister also touched on the current financial constraints, using the example of the weakening US dollar, to which the East Caribbean currency is tied, and in the process pulling down the region’s economy.

Another international incident that the Prime Minister believes is negatively affecting the region, is the US led war in the Middle East.

He said, however, that there is redemption, and this redemption must come through a number of steps, beginning with the quest to build a modern competitive post colonial economy which is at once national and regional.

“Secondly, we must build that post colonial economy within the broad framework for the further enoblement of our Caribbean civilization.”

“Are we going to roll over and play dead?” Dr. Gonsalves asked. “Or are we going to involve ourselves in creative resistance and positive engagement for the benefit our own humanization?” (JJ)