A Struggling Economy: Jamaica And U.S. Relations

4771 words - 20 pages

A Struggling Economy: Jamaica and U.S. Relations

Introduction:

In “Jamaica : a guide to the people, politics, and culture” Marcel Bayer asserts that almost every country in the Caribbean since colonialism has been affected, in one way or another, by the rule of the United States. According to Bayer, the United States’ influence on the Caribbean has been perpetuated by four American interests: 1) the encouragement of trade, 2) the protection of U.S. investments, 3)the formation of alliances to prevent intervention and 4) the promotion of regional support for U.S. international goals (Bayer, 39). In alignment with Bayer’s statement, many historians, politicians and economists alike have ...view middle of the document...

Today there are over 2,695,867 people living in Jamaica. (CIA Report, 1) According to the CIA’s national report, the Jamaican population consists of 90.9% blacks, 1.3% East Indians, 0.2% whites, 0.2% Chinese, 7.3% of mixed ancestry and 0.1% other (CIA, 3). Like most third world countries, the history of Jamaica has been characterized by many shifts in power. For instance, in 1958 the Arawaks were eradicated, in 1670 the Spanish were defeated by the English and the English slave-traders dominated the Jamaican market until the Maroon takeover in 1831. (Bayer, 7-13) Consequently, overtime Jamaica has changed from being a plantocracy to being a crown colony to finally becoming a “constitutional parliamentary democracy” (CIA, 2).

Political Trends

After Jamaica gained independence from Britain in 1962, two individuals, Norman Manley and Alexander Bustamente, sought to establish a framework to sustain the economic and social development of their country. Although N. Manley and Bustamente initially had similar political intentions, their separate goals eventually led to the emergence of two opposing political parties in Jamaica - The People’s National Party (PNP) and the Jamaican Labor Party (JLP). The PNP was established under Norman Manley and was later taken over by his son, Michael Manley. In contrast, the JLP was formed under Bustamente and later succeeded by Edward Seaga.

Historically, the PNP was deeply influenced by nationalist and Christian thinking and leaned more towards socialism until Michael Manley’s renewed policy change in 1989 (Bayer, 20). At present the People’s National Party is still in power, and has been led by the Prime Minister Rt. Hon. Percival James Patterson since 1992. In contrast, the JLP are advocates of a liberal economic policy and have resembled the goals of the U.S. government. Although the CIA has identified other political organizations in Jamaica, like Bruce Golding’s National Democratic Movement (NDM), this paper will draw primarily on periods and political years that significantly affected the Jamaican economic decline.

For instance, during the Michael Manley Period the Jamaican government fell into a vicious cycle of loans, debt and repayment. Due to acute currency shortage and the difficulty of finding other foreign creditors, Jamaica was forced to turn to the International Monetary Fund (IMF), the “lender of last resort” (Mankiw, 505). Working under the IMF, the Jamaican government had to comply with strict conditions and economic and social policies. In 1977 and 1978, Manley signed two agreements with the IMF which cut government spending and drastically reduced basic subsidies in Jamaica (Bayer, 32). Since then the IMF has been a permanent factor in Jamaica’s economy and politics. Although these political moves have significantly affected the Jamaican government, this paper will focus even further on some of the economic and social upturns and downturns in Jamaica that have...

Other Essays Like A Struggling Economy: Jamaica And U.S. Relations

T. Shih, K. Davis, S. Schoenbaum, A. Gauthier, R. Nuzum, and D. Mccarthy, Organizing the U.S. Health Care Delivery System for High Performance (New York: the Commonwealth Fund Commission on a High...

931 words - 4 pages T. Shih, K. Davis, S. Schoenbaum, A. Gauthier, R. Nuzum, and D. McCarthy, Organizing the U.S. Health Care Delivery System for High Performance (New York: The Commonwealth Fund Commission on a High Performance Health System, Aug. 2008). 2 Information about Kaiser Permanente was synthesized in part from a presentation by CEO George Halvorson to a Commonwealth Fund Commission on a High Performance Health Care System meeting in San

The Aim of Marketing Is to Know and Understand the Customer so Well the Product or Service Fits Him and Sells Itself (Ducker). Though a Simple Statement, as the World Economy Grow and Consumers Change...

1990 words - 8 pages The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself (Ducker). Though a simple statement, as the world economy grow and consumers change this gets increasingly difficult. Globalization has caused marketers to research different countries, creeds, and cultures to make unique marketing strategies. Globalization isn’t the future of our economy, it’s the now. Advances in technology

Comm 470 Week 1-Dq 1 - Chapter 1 of Electronic Commerce 2008 Introduces a Number of Distinctions Between Different Types of Organizations and Activities Related to the Virtual Economy—E-Commerce...

885 words - 4 pages WK 1 DQs Please respond to each question (in the body of the email, not as an attachment) by 11:59 PM Friday, Arizona time. Each response is 150 - 200 words.  Be sure to use the correct thread and change the subject line to include your name.  Only use your name in the subject line of your initial DQ. When responding to others, change the subject line to reflect your message. DQ 1 Chapter 1 of Electronic Commerce 2008 introduces a number of

Ethos Case Study

680 words - 3 pages Ethics Case Study Katrina M. Robinson ACC/547 Michelle Scott April 30, 2012 Ethics is known as a set of moral values or principles that one must abide by. This paper will reference the article “Difference in Business Ethical Values” (A study of differences in business ethical values in mainland China, the U.S. and Jamaica) to explain how ethics play a role in the decision-making for financial, environmental, and cultural issues. It will

Jamician Revolution

1472 words - 6 pages 1789-1798: Jamaica and Haiti -The Caribbean Front of the French Revolution The French Revolution was a bloody event in Europe, and French colonies in the Caribbean, especially those on Hispaniola, followed suit. Because Jamaica was Hispaniola's nearest island neighbor, the war impacted its history in many ways. *Revolt on Hispaniola **The Island of Hispaniola was divided between the French (on what is now Haiti) and the Spanish (on the

The Benefits Of Recycling In Jamaica

2635 words - 11 pages sole purpose of preserving limited and scarce resources. Yet the post-World War II period saw recycling taking a back seat again as the world’s economy was once again revitalized. As Blunt (2011) states “this prosperous time for the nation meant much less attention was paid to conservation and preservation compared to tougher times.” In addition to these world crises, there are other factors that helped the act of recycling to become more

Think Piece: Beyond the Euphoria

1260 words - 6 pages /world-latin-america-19147555 [ 4 ]. The Heritage foundation. Jamaica Economy: Facts, Data and Analysis on Economic Freedom. 24th September, 2012. http://www.heritage.org/index/country/jamaica [ 5 ]. BBC News Business. "Jamaica Struggles Towards a Sound Economic Future." By Davis, Nicholas. 26th April, 2012. 25th September, 2012. http://www.bbc.co.uk/news/business-17811751 [ 6 ]. The Gleaner. "Portia "Tells Plain Truth." By Campbell, Edmond. Monday September 17th, 2012. 25th September, 2012. http://jamaica-gleaner.com/gleaner/20120917/lead/lead1.html

Economic Development

1184 words - 5 pages development process of a country and brings much-needed intellectual capital and technological changes, which make the economy more competitive and innovative by developing human capital with better skill and expertise. In Jamaica, formal and non-formal education are vital for economic development as these provides the country with the potential to enhance productivity, reduce poverty and achieve greater income equality. Education, which

Lessons to Be Learnt from the Jamaican and Grendadian Experiences with Saps

1070 words - 5 pages LESSONS TO BE LEARNT FROM THE JAMAINCAN AND GRENADIAN EXPERIENCES WITH SAPs Efficient recommendations in addressing some of the macroeconomic issues in the Grenadian experience may not share a clear semblance of the economic prescriptions in Jamaica. Though faced with common BOP disequilibria, the countries differ in size, resource base and the cause of the crises. Firstly, our attempt at recommendations does not in any way imply that all

Telecommunication In Jamaica

3080 words - 13 pages Jamaican economy, as well as social effects. The telecommunications act of 2000 signaled the deregulation of Jamaica’s telecommunications sector. This was as a result of the breaking of the monopoly agreement between Cable and Wireless Jamaica and the Jamaican govt. The original agreement would have allowed Cable and Wireless to be the sole provider of telecommunications to the island until 2038. The breaking of the monopoly allowed other cellular

Sports Culture

2331 words - 10 pages 2006 DOI: 10.1111/j.1460-2466.1975.tb00552.x Jamaica is a country that has shown great success in the sporting segment, which can be seen during Olympic Games. But creating athletes of such caliber takes time and dedication on the athletes part and on their coaches. Not only a parent dream for having a child who is an Olympic medalist, but the country on a whole and when athletes like Usain Bolt, Melanie Walker, Asafa Powel and others performs

Related Papers

Industrialization During 1865 And 1920 That Influenced U.S. Society, Economy, And Politics

1234 words - 5 pages operate dangerous eppuiment. c. Discriminated by local/native American workers due to immigrants willingness to accept lower wages and work in worse conditions d. Congress’s passage of Chinese Exclusion Act in 1882; placing ten year ban on Chinese immigrants. A. Economy 1. The rapid economic development that was followed by the Civil War had laid the groundwork needed to modernize the

China’s Exchange Rate Regime And Its Effects On The U.S. Economy

2690 words - 11 pages would the size of the bilateral deficits. What impact would a change in the value of the yuan relative to the dollar have on the United States economy? An appreciation would make U.S. exports to China less expensive and it would make U.S. imports from China more expensive. The price of Chinese goods in the United States would not change by as much as the change in the exchange rate, because only a portion of most exports from China are

The Double Lives Of Servants: A Comparison And Contrast Between The Representation Of Servants In Virginia Woolf's "Between The Acts" And Jamaica Kincaid's "Lucy"

3011 words - 13 pages master") the reader can interpret the entire scene as evidence that in many ways the servants of the household are stronger and more intelligent than their masters.In her novel, Lucy, Jamaica Kincaid uses tactics similar to Woolf's to come to a similar conclusion that servants often excel their masters at perceiving reality. The main difference between the servants in Woolf's novel and Kincaid's character Lucy is that while the servants play a

Marx's Theory Of Class Focuses On The Relations Of Production, Involving Exploitation And Domination, Between A Class Of Owners Of The Means Of Production And A Class Of Non Owner Workers

359 words - 2 pages Marx's theory of class focuses on the relations of production, involving exploitation and domination, between a class of owners of the means of production and a class of non owner workers.The theory posits a long term trend towards increasing polarization of the two major classes and radicalisation of the working class. The theory has been adapted to take account of the growth of occupations that seem to occupy an intermediate and contradictory