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How significant that the United States has inflicted itself with a financial wound so grotesque and debilitating that it will never fully recover. With big numbers get thrown around like they are nothing these days—a $140 billion tax refund here, an $85 billion bailout there. America must be one rich country. But America is not rich. It’s broke!

This US financial fallout will seriously affected financial markets around the worldwide and there will almost certainly be a trickle down effect on the already weak Dominican economy and throughout the Caribbean.

This will have negative implications on countries like Dominica – whose tourism and agriculture are linked to the fortunes of developed nations. Tourism is dependent of the volume of tourists and their spending power. Agriculture on the other hand is linked to trade agreement based largely on the interests of developed economies.

It is time we stop and evaluate this likely impact on Dominica and plan a way forward that is in the best interest for Dominica. It is obvious that the sustenance of the Banana industry is handing on by a threat and Tourism is struggling under the effects of high energy prices and airline travel.

Dominica needs to seek greater economies of scale, like the organization of Eastern Caribbean states (OECS) and the CARICOM Single Market and Economy (CSME). In this context, it is in Dominica’s best interests to move quickly and path any conflict-ridden movements affecting the CSME or the OECS.

The only cushion to this trickle down effect would be the degree of unity among the Caribbean countries, and Dominica should run to the front of the line to enhance and sustain its economy.

Your Opinion: What do you think Dominica should do to curb this U.S. financial fallout?

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Below is a recent article published in the Jamaica Star on the controversial Jamaican dance hall artiste Mavado and how he was banned from preforming in certain Caribbean territories.

In the midst of reports in the media that dancehall artiste Mavado has been banned from performing in some Caribbean territories, Mavado’s management team as issued a release stating that the artiste is still at large in the Caribbean.

Stunning performance

The release said, “Mavado devastated the Eastern Caribbean recently with a stunning performance in front of a crowd of around 5,000 in Dominica. During his performance, Mavado took time out to thank the Government of Dominica, who have been singled out as bucking the trend, taking a positive stance and not banning Mavado.”

Dominica’s Tourism Minister Ian Douglas Friday said a ban on Mavado would not be in keeping with the spirit of CARICOM, adding that he is a CARICOM national and has not yet committed any offence in Dominica.

Pressure

The show was allowed to be held under immense pressure, with promoter Val Cuffy of Triple Kay Promotions standing tall when faced with many obstacles.

“I was in meetings with police and government up until midnight” Cuffy said after the show. “But Mavado proved all the doubters wrong by delivering a very mature, professional and appropriate performance. He had the crowd singing every word and there was not a single incident at the show which is exactly what we hoped for.”

The promoter went on to add that “hopefully St Vincent, Grenada, Guyana, Trinidad and all the other CARICOM countries will let sense and fairness prevail and allow Mavado to perform in those islands where he has thousands of fans.”

After a similar outing in Tortola last week, Mavado is set to continue to blaze a trail through the Caribbean over the coming weeks.

Source: Jamaica Star

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