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Wednesday, October 03, 2007

Chinese Check us

whilst I have the thought its best I run this as well. The Chinese announce they are injecting 500 million dollars into Chinese investors hands to explicitly invest into the Caribbean. Our local state radio station, government run and as intelligent a propaganda medium as a drunk man with a bullhorn proceeds to have this as a headline piece. The point of course is to show how smart we are for being with those 'rich and generous' Chinese.

The reality is very different. The Chinese are investing in China, and not in the Caribbean. Basically what happens is that the Chinese come in and invest and then proceed to suck the lifeblood out of local people whilst not actually investing much into the local economy.

Our economy is an advanced barter economy. Because of the size of our countries, money circulates in a commercial cycle. The Chinese immigrants are extremely hard working but they, scarecely employ a local soul, import low price poor quality goods from china and upsell locally, and spend as little as possible. They eat their own food, and do little immersion into the economies. Fine if you are an existing economy where you can just have a chinatown as part of your existing infrastructure. Not fine if your whole country could BECOME Chinatown.

I admire the work ethic and the strong community spirit. However we need to be wary of what happens next.


zooms said...

Yes, but on the other hand, Taiwan used to be the order of the day, here in Grenada, until China came up with a better offer, and let us not forget Japan who need our whaling vote in return for roads and a new fish market, who is playing who? Hmmm, I'm not sure, but, either way, it doesn't make a whole lot of difference to the life we living.

KG said...

I understand our comment but you are misunderstanding me slightly. Taiwan did not seek to profiteer from the relationship with us. Neither did Japan. They sought to buy our support in global debates.

China goes one step further. The Chinese businesses are now opening wherever a Dominican business closes and we now know for certain that they are receiving government assistance to invest 'in' our country. Our consumers, Dominicans, buy Chinese goods, and we have capital flight. The money goes to suppliers in China and to a local Chinese business who does not circulate that money among the same Dominicans who patronise them.

The result is a deepening of a cycle of poverty and dependency.

Neither the Taiwanese or Japanese actually acted in that manner.

Tom said...

You're right and congrats on seeing the problem. It's almost scary, like a vacuum sucking the dollars back to China.

Billy said...

I especially like your last point. if its like a chinatown then all well and good. but to ensnare the entire economy of our country is a different matter altogether.

TropicallyTied said...

Also I feel that if you say one negative thing about China in Dominica, you are seen as being unpatriotic and not wanting your country to progress. I wish there could be as many "incentives" given to local people to stay and help build our country to it's full potential.
Every time I walk past the stadium I think yes it's impressive but was it really such a priority for us to have a stadium? I see so much else that the money could have been spent on. Did the people of Dominica ask for a stadium? I shudder to think what the cost will be to maintain. Whether it is China, Japan or Taiwan, the message we send out is the same. We look to others to sort out our problems (tourists, diaspora, other countries etc) instead of looking to ourselves.

Billy said...

yea the stadium seems more like overkill. the money could be better spent on improving fishing, agro processing etc. Dominica's import bill is much too high.

Dekkah said...

another dangerous thing is that those cheap goods means less revenue collection at the customer and port.

Who is checking the VAT payments made by them? Corporate Taxes? Are they buying real estate? Are they building? The hungry tennants around Roseau are just happy to receive their monthly rents cheques, I bet you.

As for the stadium it was great idea if one was going to be able to bid for world cup games and if air access had improved. Right now it is a big hunk of shit...I don't know why they did not paint the fucker RED as it is PRC and Dominicans favourite colour. that would have been very appropriate!

Personally, I just find Dominicans terribly stupid and greedy! A deadly combination!

Dekkah said...

another dangerous thing is that those cheap goods means less revenue collection at the CUSTOMS and port.

That should have been CUSTOMS and not customer.! Sorry