Look away from USA - Academics, theologian urge Government of Jamaica to seek financial aid from other world powers

Jamaica Gleaner Online
Look away from USA - Academics, theologian urge Government of Jamaica to seek financial aid from other world powerspublished: Wednesday October 29, 2008
Rapley: I don't think the Caribbean is going to be a high priority for either president.
Editors' Forum
A group of academics and a theologian are warning the Government to look to other strong economies for assistance, as Jamaica could see foreign aid and foreign direct investment (FDI) from the United States gradually dry up after the election of either Barack Obama or John McCain to the White House.
Speaking at a Gleaner Editors' Forum at the newspaper's North Street, central Kingston, offices yesterday, the stakeholders called for the Government to lure more investments from outside the US.
"Should McCain - God forbid - become the new president, then my next prayer would be please embolden Russia!" exclaimed the Reverend Dr Roderick Hewitt, minister of the Hope United Church in St Andrew.
Continuing unilateral approach
According to Hewitt, McCain's foreign policy would be a continuation of the unilateral approach to US international affairs.
"We have to move from a unipolar world. Jamaica's interest is not in a unipolar world," he said. "We must be friends of America, but we must look for other resources beyond the American world view. We must not become caught in the pocket of any one world power. We can't afford that with 2.7 million people."
Densil Williams, lecturer in the Department of Management Studies at the University of the West Indies, said McCain's refusal to a deadline-oriented troop withdrawal from Iraq could mean a continued reduction in US aid to Jamaica, as well as a reduction of scholarships to study in the United States.
"If you look at US aid over the last four years, a significant portion of that aid goes to Iraq. In 2007, for example, I think over one-fifth of the US$27 billion that they had in aid went to Iraq. Now, if they are going to continue in Iraq, you can think that countries like ours are going to get much less aid going forward," Williams said.
The amount of aid Jamaica received from the United States dropped from US$35.27 million in 2005 to US$14.2 million in 2006. A vast percentage of aid in 2005 went towards disaster rehabilitation and preparedness after Jamaica was pounded by Hurricane Ivan in 2004. The US then provided Jamaica with US$18 million for relief, nearly the same as the entire amount given in overall aid the previous year.
Foreign direct investment
But Obama's move to stimulate the domestic economy and cut tax breaks for US companies that send jobs overseas could mean less foreign direct investment for the Caribbean.
The US' foray into the Jamaican economy has been showing signs of a slowdown over the years, with fewer manufacturing companies choosing to set up shop in Jamaica and others pulling business.
Jamaica pulled in US$866.5 million in FDI last year, a flat performance when compared with 2007 after several years of steady growth.
"Anybody who comes into the White House after November 4th will have to stimulate domestic demand. In doing that, it simply means that there will have to be a lot of spending to keep jobs at home. The implication is that there will be a slowdown of foreign direct investments, especially to small economies like ours," Williams said.
Protectionism policies
In order to stimulate domestic demand, he explained, protectionist policies might be applied.
It is a view Hewitt shares as well. He believes an Obama victory might result in a paradigm shift to the US' unilateral approach to foreign relations, but it would not necessarily be beneficial for Jamaica or the Caribbean.
"Even if Jamaica were to put hands together and say 'thank God for Obama', as if that is going to bring dividends, I think it will only change the nature of the struggle and we should not fool ourselves. The struggle will continue in a different way," he said.
Hewitt: We must be friends of America, but we must look for other resources beyond the American world view.
Williams: After November 4, there will be a slowdown of foreign direct investments, especially to small economies like ours.
Dr John Rapley, president of the Caribbean Policy and Research Institute, said none of the candidates would benefit the Caribbean and agreed that Jamaica should, therefore, look for development assistance elsewhere. He noted that Canada, for instance, has been increasing its aid to Jamaica over the years and that more can be done to build the relationship with that nation.
"I don't think the Caribbean is going to be a high priority for either president. As much as I want Obama to win, I don't think an Obama administration is going to prioritise the kinds of concerns we have," he said.
American election history in the making

Dr Lawrence Nicholson
Lecturer, Mona School of Business, University of the West Indies
Irrespective of the outcome, this, I believe, will mark the beginning of a new way of approaching elections. Certainly, from the standpoint of the amount of money which is being spent by Barack Obama and certainly from the standpoint of more people from different ethnic backgrounds feeling a confidence level that they can grow up at least even to attempt to be president. So in that regard, it is historic and for me it is the pivotal lesson that will emerge from this election.
Rev Dr Roderick Hewitt
Hope United Church
If Barack Obama were to win, already I see the challenge of 'Yes, let us now build up the us-them scenario', a new way of it were of evangelising the world that we have lost to the other Americans because they have now treated those who voted for Obama as not being the patriotic element of America.
Dr John Rapley
President, Caribbean Policy Research Institute (CaPRI)
Regardless of the outcome, I think it has been an ethical election to have the first black man to reach this far. In an almost undramatic way, I think it is remarkable that this is happening 40 years after a black man was killed for agitating to vote.
It is inconceivable that America could go through its entire history without having a black president.Copyright Jamaica-Gleaner.com