Guyana must obtain financial independence

Mar 21, 2019 Letters

DEAR EDITOR,

When I was pursuing my math education training with the University of the West Indies in the 1990’s, I was taught that developed economics dealt more in manufacturing than the developing economies. For example, we would sell them pineapples. They 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 industrialization is key to financial independence.
Political independence is de Jure self-government while financial independence is de facto independence. If Guyana wants to be free and prosperous Guyana must obtain financial independence, if not Guyana will be easily pressured to be a servant of developed countries. For example look at the derisking fiasco and the blacklisting debacle, which illustrates the vulnerability of Guyana to the caprice of developed countries like the United States (US) and the European Union. The rivalry between the US and China will intensify. Countries like Guyana will become pawns in their struggle for global hegemony. Financial independence will give resilience to weather the global struggle for dominance.

Yours truly,
Brian E. Plummer

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