Dear Editor,
When I was pursuing my math education training with the University of the West Indies in the 1990’s, I was taught that developed economies were more involved in manufacturing than the developing economies. For example, we would sell them pineapples. They would can it and sell it back to us for a higher price. It is called adding value to the product.
The fact that the United States manufacturing base has been decimated and their trade deficits and external debt have grown commensurately suggests that industrialization is key to financial independence.
Political independence is de jure self-government while financial independence is de facto independence.
If Belize wants to be free and prosperous, Belize must obtain financial independence; if not, Belize will be easily pressured to be a servant of developed countries.
For example, look at the de-risking fiasco and the blacklisting debacle which illustrate the vulnerability of Belize to the caprice of developed countries like the United States and the nations of the European Union.
The rivalry between the US and China will intensify. Countries like Belize will become pawns in their struggle for global hegemony. Financial independence will give resilience to weather the global struggle for dominance.
Yours truly,
Brian E. Plummer
