China's Growing Presence in The Bahamas
By Latrae Rahming
Mar 16, 2016 - 12:25:30 PM
the silver lining in Chinese State Owned invested projects in The
Bahamas continues to be shadowed by the perception and suspicions that
exist around the country about China's growing presence in the Bahamian
economy. The archipelagic nature of The Bahamian economy creates an
environment of complex financial restraints which requires the
government to subsidize economic growth with Foreign Direct Investment.
The posture of the country's investment policies under
successive governments rule the out the possibility of discriminatory
policies that prohibit inbound investment from foreign countries. The
elephant in the room isn't the strong-arming of Chinese State-Owned
Enterprises in The Bahamas but rather their inability to grapple with
the culture shock of doing business in the Caribbean region.
costly mistakes are peddled by their inexperience of conducting
business in unfamiliar territories with high labor cost,
multi-political system coinciding with changing governments, trade
unions, and having to respond to heavy public opinion driven by the
intrusive media presence, and independent courts. The Chinese
arechallenge with understanding complicated regulatory systems with a
deep difference from China in comparison with overseas investment
markets. This learning curve for Chinese enterprises in The Bahamas
should be used to bridge cultural differences.
The Bahamas doing business with China simply means us capitalizing on
an emerging super power to diversify its country's economic base,
accelerate growth and create jobs in key strategic sectors.
Nevertheless , the relationship with China's Soft power in The Bahamas
depends on Bahamians misunderstanding that has fueled a deep level of
public distrust. A responsible and sustainable foreign policy for the
Bahamas is one that must be inclusive of and beyond our direct relations
with The United States. Countries don't negotiate, build relations,
and trade because they like each other. They do so because there are
mutual benefits to be achieved despite their deep differences.
Bahamas is open for business and investment. The Bahamas’ economy’s
response to global economic change requires that there must be a
promotion of our strengths while identifying opportunities for future
growth.The Bahamas remains committed to the identification and
promotion of opportunities in key sectors where we can partner with
China for mutual benefit. Bahamians have to understand the economic
rationale and strategic imperative of an ambitious relationship from the
perspective o fgeo-economics.
Bahamian people should support the relationship with China as long as
it is in the best interest of Bahamians. China is a partner in the
rejuvenation efforts of The Bahamas tourism product. With the
construction of The Pointe a world-class lifestyle and residential
development in The Bahamas offering exciting amenities including a wide
range of shopping and dining options, a marina, luxurious Oceanfront
Residences, and an array of entertainment experiences like bowling,
yacht club, state-of-the-art movie theatre, and performing arts centre.
The Bahamas not only maximizes the opportunities arising from these
changes but also minimizes the risks. To ensure that we are on the
winning – not the losing – side of these momentous shifts.
occurrences surrounding the Baha Mar and China Construction America
leave a questionable assumption of the macroeconomic implications that
state-sponsored investments of Chinese companies in the Bahamas
constitutes a risk involved. The undermined reaction to this fiasco is
whether or not it should be treated as an isolated affair or a deepened
reflection to a taste of what's to come. To date, China remains a
critical partner in The Bahamas economic diversification of its economy,
despite this truth, many Bahamians have found it to be an unfavorable
is essential to The Bahamas’ relationship moving forward with China
that it is able to build an image of credibility and mutual trust. This
will allow Bahamians to see China's interest in the Bahamas as truthful
both in words and in deed. It's particularly important that Bahamians
understand their interests to dismiss any fabricated belief to incite
fear, as their views toward China are very negative and mix signal. To
dismiss any misguided speculation, China has always maintained a path
towards peaceful development. The country has never pursued and will
never pursue dominance in The Caribbean region. It has never fallen
short of its commitment to respecting other countries’ voluntary choices
of social systems.
truth about Baha Mar is many of the solutions will be unpopular. Some
will cause us to put up with inconveniences and to make sacrifices. The
most important thing about these solutions is that the alternative may
be a national catastrophe. Further delay can affect our economic
strength as a nation. We can choose to control the situation instead of
letting the future control us.
Rahming is a Senior Government Chinese Consultant with various
Caribbean governmental agencies and corporations and a critical ally for
any client addressing Chinese policy, legislative, and related issues.
The views expressed here are solely those of the author in his/her
private capacity and do not in any way represent the views of
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