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SANTO DOMINGO.- Dominican business leaders on Tuesday criticized that despite the “serious” United States financial crisis and its imminent impact on the country, society lives in “Alice in Wonderland” and doesn’t adopt the austerity measures to confront it.
Jose (Pepin) Corripio suggested the creation of “a culture of export,” which in his view would counter the negative effects.
In that regard Celso Marranzini affirmed that Dominican Republic had already felt America’s difficult situation specifically in 2007, with the significant fall of exports.
Qupted by news site Clave Digital, the ex National Business Council (CONEP) president said it’s unquestionable that a recession of the American economy means tourism from the U.S. will fall in the short and medium term.
Nevertheless, Marranzini said that country’s remittances shouldn’t necessarily fall significantly, because Dominican residents in the United States work in manual labor and crafts and not in the financial sector, with its massive losses of jobs, fruit of the failures of major investment banks, that led to Monday’s collapse in the New York Stock Market. “Here in the country they think that things aren’t going to affect us because we live in 'Alice in Wonderland’, but things are going to affect us, directly.”
The industrialist said the difficult moments threaten all countries and must readjust to a new reality.
Dominican Industries Association (AIRD) president Manuel Diez Cabral also called on the Government to “keep a constant eye” on its expenses and the country’s economy. “If we don’t do it, all this situation is going to bring many negative consequences for the country long term.”
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You wouldn't listen!
Look at you now!
No this isn't Tony from "Scarface".
It's what I've been saying all along.
But,noooooooooooooo, not the DR?
We have tourism!
Well, here it is from the horse's mouth.
You don't need a MBA from Harvard or Georgetown to understand that austerity is the order of the day.
Not, spend, and build! Watch your pesos!
Soon you'll need a whole bunch just to buy a loaf of bread.
Sigan creyendo en cuenticos de Hadas!
S.
Do not despair, this is the way I see things:
1. Dominican remittances are going to increase not decrease as Dominicans as well as investors would feel that their money is safer parked here in a local bank or tourist properties than in a US bank.
2. Dominican Free zones manufacturing are having a boost because now we can compete better due to the higher oil prices because of our closeness as far as freight to the USA.
3. Agricultural production will increase because of our available fertile land and the usage of Haitians in that capacity. Also because it will be a good business to get into.
4. Other nations (like Russia and countries in the former Soviet Union)) that are not having
financial crisis are coming in hordes to DR and wanting to get into business here.
5. The Dominican government has a perfect excuse now to start trimming its payroll, beginning 2009.
I used to ask myself why there are so few bikes in the roads, and precisely if you use a bike your life expectancy drops drastically because of the bad drivers and disregard for signals and stop signs.
Its just one example of how things have to be "aplatanado" before making serious comments that just enforce your future business plans like these guys are doing. I man they forgot about the gold mine starting production soon that will employ 5,000 workers and increase our export numbers significantly.
From: Dominican Republic
All you unemployed dooms day prophets must be salivating with the dark prospects in the horizon.
Do not despair, this is the way I see things:
Dooms day prophets? Perhaps the patron Saint will protect the economy:
Army evokes patron saint
During celebrations in honor of the Archangel St Michael, President Leonel Fernandez asked the Army to continue fighting against drug trafficking. St Michael is the patron saint of the Army. Fernandez's words were read during a mass celebrated at Santo Domingo Cathedral. Also attending the mass were Vice President Rafael Alburquerque, Armed Forces Chief Pedro Rafael Pena Antonio, Army Chief Joaquin Virgilio Perez Feliz, Navy Chief Julio Cesar Ventura Bayonet, Air Force Chief Carlos R. Altina Tezanos and Police Chief Rafael Guillermo Guzman Fermin.
Source: http://dr1.com/index.html
Even though I am not particularly very religiously oriented sometimes faith or the belief in a
extraordinary order that is beyond our comprehension and has infinite power is not a bad thing.
Thank you Archangel San Miguel, thank you for the blessings that descended on me.
I am just curious, were you walking under pigeons yesterday?
That's standard operating procedure for Dominicans, how are you going to change that?
Intelligent sarcasm is an attribute that you seem to lack, cynicism is more your moronic style.
Yes I was walking under the pigeons yesterday but was protected from the nice droppings by an invisible shield that had them forwarded to you.
Have a nice day!