SRC Trading Thoughts
The SRC Trading Thoughts Column is a bimonthly issue produced at the SRC in which we, or contributing authors, provide critical views and thoughts on issues of ongoing interest in trade and investment, with a particular focus on the Caribbean.
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- COVID-19: An Opportunity to Rethink Caribbean Diaspora EngagementDavid Gomez and Alicia Nicholls Caribbean economies, like others around the world, have been negatively impacted by the on-going novel coronavirus disease 2019 (COVID-19) pandemic. The International Monetary Fund (IMF) in its June 2020 Economic Outlook forecasts global gross domestic product (GDP) growth at – 4.9 percent in 2020. For tourism-dependent economies like Barbados, the Bahamas and Jamaica, the Inter-American Development Bank (IDB) predicts a double-digit contraction in economic activity. In both policy and academic circles, the conversation is not merely on how to promote recovery post-COVID-19, but how to rebuild Caribbean economies on more sustainable foundations than the ‘quicksand’… Read more »
- CARICOM’s Stake in the WTO Director-General RaceAlicia Nicholls Incumbent World Trade Organization (WTO) Director-General (DG) Mr. Roberto Azevedo’s recent announcement of his resignation a full year before concluding his second term of office took the world by surprise, and presents another plot twist among the mounting challenges confronting the guardian of the multilateral trading system. The incoming DG – whoever he or she may be – faces the herculean task of tackling these challenges head on in an atmosphere of growing protectionism, the COVID-19 pandemic and deafening calls for WTO reform. This SRC Trading Thoughts offers a Caribbean perspective on the on-going DG race at this… Read more »
- Lessons from the Appellate Body’s Parting Shot in the WTO Tobacco Plain Packaging DisputeBy Dr. Jan Yves Remy The report issued this week by the Appellate Body of the World Trade Organization (WTO) in the Australia Tobacco Plain Packaging dispute might be remembered because it is the final report of a dying international appeal court. However, to focus on its symbolic value only would be a missed opportunity to learn key lessons from one of the largest disputes ever litigated at the WTO. And what are these valuable lessons? First, by upholding Australia’s right to regulate public heath through its tobacco control measures, the Appellate Body elevated “health” over “trade” at a time… Read more »
- COVID-19 Is Exposing Cybersecurity VulnerabilitiesBy Chelcee Brathwaite COVID-19 is shifting more activities to online platforms: from board meetings to classrooms, to church services, to local vendors, all are moving online as a result of new social and physical distancing measures. Reports indicate that since the pandemic began, web conferencing has grown by 500%, video platforms by 265%, webinars by 226% and live chats by 194%. E-commerce too has grown as shoppers are being forced to conduct transactions online. While these developments represent a win for the digital economy, a darker underbelly is also growing as cybercriminals capitalize on the increase in online activity. Perhaps… Read more »
- Geopolitically Investigating The Flight Plan For Caribbean Integration: The Case Of LIATDr. Kai-Ann D. Skeete INTRODUCTION Given the Caribbean’s natural geography, air transportation is a critical component of our regional infrastructure. The Caribbean is heavily reliant on air-transportation to provide connectivity which is fundamental to sustaining economic growth in a region highly dependent on trade in goods and services, especially tourism. However, several CARICOM leaders have chosen not to rally behind LIAT and fail to see the importance of LIAT to the successful functioning of their economies. As I write this, the region is in unchartered territory and is battling with what geopolitical strategists call wildcard events. Wildcard events are essentially… Read more »