Tag: Regional and Global Business Environment

Economic Institutions and Systems

Caribbean Community Common Market (CARICOM) A common market is an association of countries that have joined together to bring about the harmonious development, continuous economic expansion and increased stability of the countries involved. CARICOM was formed in July 1973 when Barbados, Trinidad and Tobago, Jamaica and Guyana signed the treaty of Chaguaramas.  Since then the…...

Economic and Social Problems in the Caribbean

Unemployment Globalization has contributed significantly to unemployment in the Caribbean. With the removal trade barriers, some industries have not been able to compete globally. The lack adequate skills that are required for the new industrial paradigm for example, information technology skills have also contributed to the problem of unemployment. A high level of unemployment among…...

Possible solutions to Economic and Social Problems

Access to Foreign Direct Investment (FDI) Foreign Direct Investments refers to capital investments into factories, machinery and equipment by a foreign company or an individual. FDI is important for the development of Caribbean economies as they are challenged by their high debt- to-GDP ratios and increased global competition for export earnings. Attracting foreign direct investment…...