SANTO DOMINGO.- Dominican exports to the United States fell by 6.9 percent last year to $4.2 billion. That contrasts with the other CAFTA countries, which all increased their exports to the United States, according to a Latin Business Chronicle analysis of new data from the US Census Bureau. However, thanks to a 13.8 percent increase in U.S. exports to the Dominican Republic - to $6.1 billion - total trade grew by 4.3 percent to $10.3 billion.
That means the Dominican Republic continues being the largest U.S. trade partner in the CAFTA region and the seventh-largest trade partner in Latin America. All in all, the CAFTA boosted its trade with the United States by 7.9 percent to $41.2 billion last year. That was better than the Andean Community, but lower than Mercosur.
U.S. trade with the region ended up growing by 6.2 percent to a record $561.8 billion, U.S. exports to Latin America expanded by 9.2 percent to $230.6 billion, while imports from Latin America increased by 4.2 percent to $331.1 billion.
Paraguay saw the strongest percentage increase in trade (34.7 percent), while Haiti posted the strongest decline (8.8 percent). Peru led the way in terms of the strongest growth in U.S. exports in Latin America - 40.8 percent - while Haiti again posted the worst result - a decline of 13.1 percent. In terms of U.S. imports from Latin America, Cuba posted the strongest increase (200 percent) despite the U.S. trade embargo due to special exemptions and a small base figure. Cuba is still the smallest U.S. trade partner in Latin America. Meanwhile, Ecuador posted the worst result in terms of U.S. imports, seeing a 13.5 percent decline.
Thanks to strong growth, Brazil replaced Venezuela as the second-largest U.S. trade partner in Latin America, while Colombia passed Chile in U.S. trade.
From: United States, Killeen, TX - Home of the 1st Cavalry
What I have not understood, in all the time I have been in this country, is the lack of interest by local investors to vigorously pursue the building up of the industrial complex in the various fields of manufacturing so that goods could be manufactured here with thesurpluses exproted out of the country.
There are many items that could be manufactured here that would find a ready market in many foreign countries.
The efforts of the heavy metal industrial complex of Japan is a good example of what innovation, progressive thinking, and perserverance in the pursuit of overseas markets can do for a country's economic progress. The Japanese must import every scrap of metal that is used in manufacturing, inclusing the oil andcoal necessary to provide their electricity, yet they have overcome these negative aspects to become one of the world's largest exporting nations.
Why can't the DR do the same thing? The DR has a very large base of unemployed that can be used for this purpose.
TB
Written by: bernies, 20 Feb 2008 10:52 AM
From: United States, key west fl
this is by far the best comment the I have reading on this site.
From: United States, Killeen, TX - Home of the 1st Cavalry
One must ask themselves the question of why are the Exports declining.
An analysis of the industrial complex that, in the past, have made up the basis of the exportations, have primarily been in the realm of Agriculture and clothing manufacture.
There has been no major effort put forth to expand into other arenas of business to diversify the export of other manufactured goods.
This lack of foresight into the opportunities which could be taken advantage of is the result of "tunnel vision" on the part of the local "investment community" and is indicative of the same phenomonem in government.
So, we have before us the question of just how to place thecountry on an even footing with other countries and progress beyond the parochialism that abounds in the "investor community".
One way to overcome this is to call upon that community to form a coalition by which opportunities are discussed andacted upon. This is one role of government in acting beneficially for country progress.
TB
From: United States, Killeen, TX - Home of the 1st Cavalry
It would be most beneficial for the"Elite", along with other affluent investors, to band together in such an effort and guarantee the success of economic progress beyond what is evident today.
The 'Elite" and other investors are the financial backbone of this country and it is in their best interest and their responsibility, alongside government, to put forth the effort to ensure that economic progress continues since they have the power to effect just that.
It is not just "Patriotism" that must be called upon, but a sincere and pronounced effort on the part of all involved to put forth theeffort to elevate the DR beyond it's present position in theworld community.
TB
From: United States
The Japanese and some other Asians (Korea) accomplished this not solely by relying on the patriotism of the elites but by organizing cartels and directing the economy from the top down via the banking system. The Japanese economic system masquerades as capitalism, but at the end of the day the PROFESSIONAL, life-long CAREER technocrats in the financial ministries serve as educated stewards who can correct and plan ahead for the failures of the elites, industrialists and private bankers. Meanwhile the electoral system serves as an outlet for the corrupt and power-hungry to carry out theatrics but more importantly stay out of the way of the technocrats. This is maybe what DR needs...they have the latter part down, but where will the core cadre of experienced and trained economists and financial professionals come from?
From: United States, Killeen, TX - Home of the 1st Cavalry
Manhattanite;
Before WWII, the japanese sent their most astute people to the USA for the education which they did not have the capability to produce.
After WWII those that survived were placed in positions of authority to begin the economic recovery of their country. As the result of this move by the clear thinkers, japan began it's road to recovery and progress.
I have to give MacArthur the credit for understanding the necessity of Japanese economic recovery and progress through his handling and understanding of theJapanes psyche at that time. I was in Japan during the initial election process andwas really amazed at the grasp the Japanese had on what was necessary for them to do in order to rejoin the community of nations and once again to be accepted by that element.
Because of that, and MacAurther's benevolence in acting as Military Governor during the ensuing transition, the Japanese responded brilliantly and became a friend instead of a vanquished enemy.
TB
From: United States, Killeen, TX - Home of the 1st Cavalry
In the DR, there needs to be a program instituted to send the most intuitive and the most intelligent students to other countries for the education in those fields of academia that will best serve the population andthe country.
It will behoove the government, however, to require a period of service from those who are selected in order to recover their investment by service to the country for a specific period of time.
Failure to do this will result in a failure to accomplish the goals of such a program.
Then, upon the return of these recipients of the educational largess, they must be assigned in their field of educated expertise to formulate and implement programs which will benefit the society they are indebted to.
Failure on the part of these individuals to perform would necessitate litigation for the tort committed. That type of litigation is recognized worldwide as being correct and is enforceble in any court worldwide.
Just a suggestion for consideration.
TB
Written by: Lautaro, 20 Feb 2008 4:36 PM
From: Dominican Republic, Santo Domingo
I think that the answer to your question mr. TB lies in the fondness of the dominican elites for those projects in which the benefits are prompt and the effort is minimal (i.e. speculative investments, such as money changing houses or "remesadoras" and the like). The building of an industrial complex, while full of reward if succesful, needs a lot of patience, sacrifice and foresight on the part of the potential investors, virtues that the dominican elites find themselves lacking in the extreme. Also, you have to take into account that the well being of every economic project on this country will depend on the continuity of certain parties on the political power, because, on the DR, if a certain project is started during X administration, then the Y adm. will do everything in its power to sabotage it once in power. In other words, there's no continuity on the governmental level, something that is crucial for the success of any given project.
From: United States, Killeen, TX - Home of the 1st Cavalry
Lautaro;
While I appreciate your comments, it is a well know fact that it is theElite that really run this country, albeit from a minimally exposed position.
Were they to adopt a philosophy of a policy wherein the continuity of "under construction" of projects were supported, then we wouldn't have so many unfinished buildings and roadways which only indicate a lack of common intelligence amoung the politicians and government functionaries.Once a project is budgeted for it should become a "sacred cow" until finished. That is the only way this country will progress socially and economically. Even the simpest idiot knows that, but I guess the government functionaries and the would be politicos haven't the brains God gave the jackass. When God was handing out brains, the politicians thought he said pains and they didn't want any.
TB
From: United States
TB: Thanks for speaking on some details of the Japanese experience. One more thing which perhaps you witnessed and can discuss: I have read that one reason the Japanese/Korean technocratic central bank + industrial cartels model worked is the strict adherence to seniority and attendant cultural norms. To the Japanese technocrat or corporate manager there is much more value to being a department head than getting a bigger house, luxury car or salary. The associated status and perks (cultural deference from all juniors) is worth much more than crass money. Thus if you have put 10 years of effort at a ministry you will not leave and sacrifice that seniority for the increased pay of private employment. Man I seriously doubt we could make that the case in DR. Nonetheless professional, trained, experienced ppl in some of the key ministries would fix much.
Written by: , 22 Feb 2008 9:24 AM
From:
Japan cannot be used as an example to follow for the Dominican Republic or any other individualistic society. I have been living in Japan for more thant 2 years, and I can easily tell why its society can succeed effortlessly in the socioeconomic arena. An American government representative who lives in Japan explained to me that they're like ants. Any economic ideas you can come up with can be easily translated into reality in the Japanese culture as long as the benefit for the many is involved. As I separate my trash in three recycle bins for different types of material, I remember having to throw the trash, two months ago, in an overflowing trash bin while preparing for my grandmother's funeral. As Dominicans, we tend to only think about our inmediate family while disregarding our local community. It's easy for Japanese government leaders to apply good sense when the possibility for corruption at a
Written by: razon, 22 Feb 2008 9:28 AM
From: United States, Florida
....It's easy for Japanese government leaders to apply good economic sense when the possibility for corruption at any level is none.
From: Dominican Republic
Any society which has not gone through the "primary capital accumulation" can not turn from "traditional" to modern or "capitalistic". The DR is a traditional society in the middle of a capitalist sea. However, we have not gone through the process. We do not have a national capitalist class running the show. We are not an independent identity. Our capitalist class is nothing but the servant/maid of the multinationals that run the show. The powers that be do not need or want the local capitalists becoming the competition.
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There are many items that could be manufactured here that would find a ready market in many foreign countries.
The efforts of the heavy metal industrial complex of Japan is a good example of what innovation, progressive thinking, and perserverance in the pursuit of overseas markets can do for a country's economic progress. The Japanese must import every scrap of metal that is used in manufacturing, inclusing the oil andcoal necessary to provide their electricity, yet they have overcome these negative aspects to become one of the world's largest exporting nations.
Why can't the DR do the same thing? The DR has a very large base of unemployed that can be used for this purpose.
TB
An analysis of the industrial complex that, in the past, have made up the basis of the exportations, have primarily been in the realm of Agriculture and clothing manufacture.
There has been no major effort put forth to expand into other arenas of business to diversify the export of other manufactured goods.
This lack of foresight into the opportunities which could be taken advantage of is the result of "tunnel vision" on the part of the local "investment community" and is indicative of the same phenomonem in government.
So, we have before us the question of just how to place thecountry on an even footing with other countries and progress beyond the parochialism that abounds in the "investor community".
One way to overcome this is to call upon that community to form a coalition by which opportunities are discussed andacted upon. This is one role of government in acting beneficially for country progress.
TB
The 'Elite" and other investors are the financial backbone of this country and it is in their best interest and their responsibility, alongside government, to put forth the effort to ensure that economic progress continues since they have the power to effect just that.
It is not just "Patriotism" that must be called upon, but a sincere and pronounced effort on the part of all involved to put forth theeffort to elevate the DR beyond it's present position in theworld community.
TB
Before WWII, the japanese sent their most astute people to the USA for the education which they did not have the capability to produce.
After WWII those that survived were placed in positions of authority to begin the economic recovery of their country. As the result of this move by the clear thinkers, japan began it's road to recovery and progress.
I have to give MacArthur the credit for understanding the necessity of Japanese economic recovery and progress through his handling and understanding of theJapanes psyche at that time. I was in Japan during the initial election process andwas really amazed at the grasp the Japanese had on what was necessary for them to do in order to rejoin the community of nations and once again to be accepted by that element.
Because of that, and MacAurther's benevolence in acting as Military Governor during the ensuing transition, the Japanese responded brilliantly and became a friend instead of a vanquished enemy.
TB
It will behoove the government, however, to require a period of service from those who are selected in order to recover their investment by service to the country for a specific period of time.
Failure to do this will result in a failure to accomplish the goals of such a program.
Then, upon the return of these recipients of the educational largess, they must be assigned in their field of educated expertise to formulate and implement programs which will benefit the society they are indebted to.
Failure on the part of these individuals to perform would necessitate litigation for the tort committed. That type of litigation is recognized worldwide as being correct and is enforceble in any court worldwide.
Just a suggestion for consideration.
TB
While I appreciate your comments, it is a well know fact that it is theElite that really run this country, albeit from a minimally exposed position.
Were they to adopt a philosophy of a policy wherein the continuity of "under construction" of projects were supported, then we wouldn't have so many unfinished buildings and roadways which only indicate a lack of common intelligence amoung the politicians and government functionaries.Once a project is budgeted for it should become a "sacred cow" until finished. That is the only way this country will progress socially and economically. Even the simpest idiot knows that, but I guess the government functionaries and the would be politicos haven't the brains God gave the jackass. When God was handing out brains, the politicians thought he said pains and they didn't want any.
TB