As we survey the troubling financial times, it is interesting how we have really become a ‘global village’. The free market concept which has been hatched by the First World to keep the rest feeding at the trough may have backfired to become a monster. The meltdown in the US financial market which has leaked into global markets has vividly demonstrated the interwoven nature of how world economies have become.
As sensible individuals before we make decisions we calculate the discernible risk, businesses do the same to ensure goals are achieved by anticipating pitfalls. If we were to apply this simple principle to the free market concept foisted on us by the First World, the principle has been conveniently set aside. How can we explain the unbridle forces currently at play in the United States and other markets which has precipitated economic pandemonium in the world’s economies.
Are we to understand that the First World initiative we know as globalisation maybe the catalyst for the financial meltdown in the US and ushered in a world recession?
It is against this background that the fight by President Bharrat Jagdeo of Guyana, against the odds, to procure a CARIFORUM EU EPA goods only agreement bears scrutiny. The time has come for developing world states to engage in counter-measures. The idea of developing countries leveraging their resources is nothing new. The motivation for such a union would definitely not be based on greed and superiority.
More and more in recent weeks we have been hearing proponents of the concept of decoupling making noises. If the developing world needed a catalyst to act, they have it!






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