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Economic Development of Central America Econ. 4200 - Spring 2004 – Dr. Taylor - page 31 / 153

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“Trouble in Paradise”, The Economist, November 21st, 2002

What is the most widespread language spoken in the Caribbean?

Which country has the highest and which the lowest per capita GDP?

What are the three major economic problems facing the region?

1. Big debt problems … chronic mismanagement.

2. Tourism revenues falling … biggest earner for most (high cost).

3. Changing trade rules … preferential trade agreements with EU … to be phased out between 2006 and 2009.

What two regional nations might be able to compete with Brazil in sugar production?

How big is the regional drug trade? “Where bananas can grow so can fine marijuana.”

Has the diversification by some countries into “offshore financial services” created an alternative economic base that will help sustain economic growth?

Collectively, how do you think these issues will affect economic growth and the standard of living over the next 10 to 20 years?

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