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By Teresita Marti­nez-Vergne, Franklin W. Knight

The Caribbean ranks one of the earliest and such a lot thoroughly globalized areas on the earth. From the 1st second Europeans set foot at the islands to the current, items, humans, and ideas have made their long ago and forth among the sector and different components of the globe with unequal yet inexorable strength. a list of a few of those extraordinary multidirectional exchanges, this quantity presents a degree of, in addition to a version for, new scholarship on globalization within the zone. Ten essays by way of best students within the box of Caribbean experiences establish and light up very important social and cultural features of the quarter because it seeks to take care of its personal id opposed to the unrelenting pressures of globalization. those essays study cultural phenomena of their creolized forms--from activities and faith to track and drink--as good because the Caribbean manifestations of extra common trends--from racial inequality and feminist activism to indebtedness and fiscal uncertainty. all through, the quantity issues to the contending forces of homogeneity and differentiation that outline globalization and highlights the transforming into business enterprise of the Caribbean peoples within the glossy international.

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Tariff rates on industrial products were relatively low prior to the Uruguay Round. The highest tariffs were those on textiles and apparel. However, the major barriers to trade in these products have been quota restrictions under the Multi-Fibre Agreement. These are to be phased out and the products fully integrated into the wto agreements by 2005. 9 benefit from trade liberalization in textiles and apparel on account of their inability to compete with low-cost producers in Asia, in particular China.

11. The idea of a Regional Integration Fund came from the Guyana government in 1996. 12. See eclac, Economic Survey of the Caribbean, 2003–2004. 3 Globalization, the World Bank, and the Haitian Economy alex dupuy In 1996, 1998, and 2002 the World Bank issued reports that marked a turning point in its analysis of the causes of underdevelopment and poverty in Haiti. For the first time since the bank began to formulate development policy for that Caribbean nation in the 1970s, it argued that poverty remained pervasive and even deepened because of the long history of political instability, poor governance, corruption, and the misuse of public funds.

However, the industries on which such trade was based did not contribute to employment creation on account of the capital-intensive nature of the operations. The creation of jobs therefore had to rely on the public sector and the service industries that were being developed. Independence necessitated change in the economic relations between Caribbean countries and former colonial powers. Association agreements, in 23 challenges to caribbean economies figure 8. Services Sector Contribution to gdp, 1986–2000 (percentage) 28 Guyana 53 Jamaica 55 Belize 57 Trinidad & Tobago 58 Dominica Suriname 60 St.

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