CLICK HERE TO JOIN OUR WHAT’S APP GROUP
Economist praises govt’s response to tariffs
SOURCE: BARBADOS TODAY- A respected economist has praised the government’s “skilful strategy” in dealing with the global trade war over tariffs and shifting alliances among the world’s largest economies.
Professor Justin Robinson–who serves as the Director of the Central Bank of Barbados and Pro Vice-Chancellor of the University of the West Indies–says the island has adopted a sensible approach by staying below the radar while quietly working to diversify its trade relationships and strengthen economic resilience.
“I think the Barbados Government has been playing it quite wisely,” he said on Wednesday during a JMMB-hosted forum on the impact of tariffs on Caribbean economies.
“When you have elephants fighting, then the grass gets damaged. You really want to stay below the radar, you don’t want to attract any undue attention to yourself. I think that’s been quite a skilful strategy,” said Robinson, who is also a senior lecturer in finance.
He further highlighted government-led efforts to deepen trade links with Africa and to introduce digital payment infrastructure—two moves he believes are crucial as global commerce becomes increasingly digital and multipolar.
“I think the strategies to prepare us for this have been around and there have been attempts to implement them,” he said.
“But because we’ve been very comfortable with the status quo, they have been seen maybe as things that are nice to have. In new circumstances, [however], these are things that we must do.”
Robinson said that global supply chain fragmentation, increased protectionism, and currency volatility are pushing countries—particularly small, import-dependent ones like those in the Caribbean—to make hard decisions about trade, resilience, and digital modernisation.
He said the Caribbean cannot afford to delay action, since “I don’t see how you can have empty shelves in Miami and you don’t have empty shelves in the Caribbean.
I think one follows the other.” Robinson’s remarks were part of a wider discussion on how the region can survive and adapt amid rising trade tensions between the United States and China, and in the light of global shifts towards regional economic blocs and nondollar transactions.
(SM)
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Antigua!
We offer fully customizable and flexible digital marketing packages.
Contact us at [email protected]
Professor Robinson’s insights highlight the importance of strategic planning in small economies.
Barbados’ approach could serve as a model for other Caribbean nations facing similar issues.
I think this article sheds light on the complexities of international trade for small island nations.
Looking forward to seeing how Barbados continues to navigate these complex trade waters.
I read one article from this man and I already have some trust in his potential. I want to see more from him in terms of economic advising.
What he said here, I have expressed this to ABLP for many many years. Well, nearly all bloggers have. The substantial investments in only tourism is just not smart.
This year, we should put all major investment into agriculture (local supply and exporting), manufacturing (jams, sauces, canned/bottled fruits), entertainment (getting our local music into more movies, going internationally viral with songs and dance, please have a creative team in the ministry of tourism and culture who is charged with this. Also, getting a local channel on international TV network, there are so many available unused channels on optimum or verizon).
Putting into law the need for major hotels and grocery stores to have a minimum local purchase of their needs (about 10 to 25% to get them starting to work more with locals). Waivers may be available for good cause and maybe a fee.
Government should give notices of projects, start with small ones, and borrow these funds from the public with higher interest for the public than what the bank gives them but lower than what the government gets overseas or even from local banks.
Let us begin offering about 1 month of unemployment benefits if a person is unable to worse for reasons not due to their fault (funded by employers). New businesses being formed and employing are giving certain concessions for that first month or so.
We also need to find away to make security work more acceptable to local Antiguans and Barbudans. Why on earth is security work so shameful to Antiguans and Barbudans? This industry is flourishing but hardly any Antiguans and Barbudans are in it? Why? Why only Jamaicans, Dominicans, and Guyanese?
I actually think that most Caribbean countries are currently doing this, but I think that by going it alone will be difficult.
The Caribbean needs to come together. United we stand and divided we fall. Why are we so afraid to work together. Individually we have the numbers to be a force to be reckoned with!!!