Experts believe that there are significant opportunities for the Caribbean to expand its trade with China, and they recommend the establishment of a think-tank to analyze how the region can benefit from trade and investment partnerships. Professor Roger Hosein proposed the creation of a dedicated think-tank to identify products that the Caribbean can supply to meet the demand in Chinese markets and align with growth trajectories and commodity demands. This think-tank could be established at the level of CARICOM for accessibility by member states. Dr. Mark Wenner highlighted opportunities for value markets in China, particularly in agro-processing and niche products like Jamaican coffee. Additionally, he noted the interest of many Chinese people in learning to play the steelpan, the national musical instrument of Trinidad and Tobago.
The discussion also explored the potential of the Caribbean’s diverse culture as a valuable tourism product for the Chinese market. Former UWI Principal and Minister of Planning, Dr. Bhoendradatt Tewarie, emphasized the need to promote the region’s cultural offerings beyond just steelpan, including calypso, soca, and chutney. He suggested developing a tourism strategy targeted at the Chinese market, given the size and potential of the tourism industry in China. Professor Hosein agreed that the Caribbean’s tourism market should adapt to seize opportunities presented by the growth of economies like China and India, which are projected to be the largest in the world over the next several decades.
The discussion also addressed China’s Belt and Road Initiative (BRI) and its investments in the Caribbean. While concerns about debt-trap diplomacy were noted, Dr. Wenner pointed out that there is no evidence of China negatively affecting debt within the Caribbean. Trinidad and Tobago, in particular, has seen significant growth in trade with China, exceeding US$1 billion in 2019. The country was the first in CARICOM to commission a project under the BRI, the Phoenix Park Industrial Estate. Dr. Tewarie highlighted China’s lending capacity surpassing major international institutions and its strategic positioning in the region and globally. He advised Caribbean countries to carefully analyze opportunities for funding and be wary of potential risks.
Despite acknowledging valuable opportunities for the Caribbean in China, Dr. Wenner cautioned against pitfalls such as lack of transparency, environmental safeguards, and economic feasibility when engaging in projects with China. He urged the region to negotiate well, protect its interests, and avoid falling into debt traps. Both he and Professor Hosein emphasized the importance of research institutions collaborating on studies to better understand the dynamics of engaging with China and harnessing the potential growth opportunities. Dr. Wenner stressed the need for smart engagement with China, focusing on institutions that enhance trade competitiveness and unlock possibilities for exports and cultural tourism. Ultimately, the responsibility lies with Caribbean leadership and the business sector to capitalize on the opportunities presented by China’s rise as a global power.
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20 Comments
Maybe steelpan enthusiasts should focus more on local partnerships instead of global ones.
Global partnerships bring diversity and exposure to the steelpan community. Embracing local partnerships is important too, but lets not limit the potential growth and reach of this beautiful art form. Lets celebrate both local and global collaborations for the steelpans continued success.
Why are we focusing on trade relations instead of celebrating the music?
Trade relations are essential for economic growth and stability. Celebrating music is great, but lets not ignore the bigger picture. Both can coexist. Lets appreciate the music while also recognizing the importance of trade relations in our interconnected world.
I think we should focus on local artisans instead of Chinese imports.
I think steelpan music should feature more in Chinese festivals too!
Why should Chinese festivals incorporate steelpan music? Lets appreciate and celebrate each cultures unique music traditions without imposing them on others. Diversity is what makes festivals special, lets embrace that instead of trying to blend everything together.
Is Carnival really the right time to discuss trade relations? Seems off-topic.
Trade relations impact every aspect of our lives, even during Carnival. Ignoring this crucial discussion during a festive time is shortsighted. Lets embrace the opportunity to address important issues whenever they arise, regardless of the occasion. Lets keep the conversation going.
Maybe Caribbean steelpan should stick to tradition instead of focusing on trade with China.
Should we be more focused on steelpan music or Caribbean-China trade relations?
Do Caribbean-China trade relations impact Carnival? Lets discuss! 🎉🌴🇨🇳
Im not sure if connecting Carnival to trade relations is necessary.
Is Caribbean-China trade really a priority during Carnival celebrations? Lets discuss! 🤔🎉
Do you think the Steelpan connection could give a unique boost to Caribbean-China relations?
I doubt the Steelpan connection alone would significantly boost Caribbean-China relations. There are deeper economic, political, and cultural factors at play. It might create some interest, but lets not overestimate its impact.
Im not convinced. Is there really a link between steelpan and Caribbean-China trade? 🤔
Do you think Chinas involvement in Caribbean steelpan trade is beneficial or harmful?
What could be the impact of stronger Caribbean-China trade relations on steelpan culture?
This could potentially dilute the authenticity of steelpan culture by introducing external influences. Preserving the traditional roots and history of steelpan is crucial for its identity. Stronger trade relations with China may overshadow the unique Caribbean essence that defines steelpan music and its cultural significance.