Bukka Rennie Archives 2001
Give us significance!
December 05, 2001
Politics in T&T has been reduced to the ridiculous. We are an island community of just over one million citizens graced with a fortune of oil and gas, the proven reserves of the latter having recently been put at 13 trillion cubic feet and increasing.
We are a dependent economy with direct foreign investments to the tune of some US$6 billion largely expended in the oil, gas and petro-chemical industries.
And as is the case in all historic arrangements between peripherals (ie dependent underdeveloped economies) and epicentres (ie modern, industrialised metropolis), the raison d'etre of all economic activity within the borders of the peripheral territory is geared to the satiation, satisfaction and value-added accumulation that generates ongoing development for the metropolitan source of investment funds.
In the peripheral society, development is lopsided and fragmented as the sectors in which foreign investments are ploughed, the commanding heights, stand unrelated to the manufacturing and commercial activities of the domestic "home" economy.
The fundamental issue before societies like T&T is to conceptualise and design a developmental path that will remove this fracture and integrate all the economic sectors for the purpose, first and foremost, of our own capital accumulation and in the interests of our own human resources. MORE
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