Category Archives: Economics/Finance

Image of a Black Woman on the new Canadian $10 bill – By Francis Quamina Farrier   

Guyana Chronicle –    

The unveiling of a jumbo image of the new Canadian $10 banknote. From left , Minister of Finance, Bill Morneau; Wanda Robson, sister of Viola Desmond who did the unveiling and Governor of the Bank of Canada, Stephen Poloz.

Image of a Black Woman on the new Canadian $10 bill

By Francis Quamina Farrier    Continue reading

Update: Doing Business with the USA – By Rosaliene Bacchus

Three Worlds One Vision

US Total Imports & Exports of Goods & Services 2008-2017

U.S. Total Imports & Exports of Goods & Services 2008-2017
Chart prepared by Rosaliene Bacchus, Your US-Brazil Trade Assist

Every year during the period January to March, I update the content and links on my website rosalienebacchus.com. This year, I have redesigned my website to feature my work as a writer. With the exception of three articles – Business with Brazil, Business with the USA, and the Import-Export Workbench – all links to articles for Your US-Brazil Trade Assist remain unchanged.

This week, I completed the update for Doing Business with the USA to include US trade statistics for year 2017. As shown in the captioned chart, U.S. total imports and exports of goods and services have recovered by 6.9 percent and 5.6 percent, respectively, when compared with the previous year.

Other information and charts include the following:

  • U.S. Top Ten Trade Partners 2017
  • U.S. Imports of Goods by…

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Guyana’s Oil: “If you tear this contract up, nobody else will come” – British Economist

“If you tear this contract up, nobody else will come” – British Economics Professor on ExxonMobil’s contract with Guyana

Sir Paul Collier

Posted by: Denis Chabrol in Demerara Waves – March 21, 2018

A British Professor of Economics and Public Policy, Sir Paul Collier  on Wednesday warned that if Guyana scraps  the ExxonMobil contract that would have disastrous consequences for the country’s investment climate, but he instead recommended strongly that the country beef up its capacity to avoid tax evasion by oil companies.    Continue reading

Why should we care about the trade deficit? – By Rosaliene Bacchus

Three Worlds One Vision

Shoppers at Walmart Store - Christmas 2017

American Shoppers at Walmart Store – Christmas 2017
Photo Credit: Digg/Associated Press

America’s trade deficit has been making the news. Our president loves to quote the amount of $800 billion: the U.S. trade deficit for trade in goods only. Our trade in services count too. They earned a surplus of over $242 billion in 2017 (Census Bureau, Exhibit 1).

The total U.S. trade deficit of goods and services in 2017 was $568 billion. We imported $2.900 trillion in goods and services while we only exported $2.332 trillion.

An examination of imports and exports of goods by principal end-use category (Census Bureau, Exhibit 10) reveal that consumer goods together with automotive vehicles, parts and engines account for our mounting deficit. Let’s not forget that goods produced by American companies in a foreign country – like the coveted Apple Smartphone designed in California – becomes an imported product on arrival…

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OIL: Guyana Is About to Open Up Pandora’s Barrel – Bloomberg

Guyana Is About to Open Up Pandora’s Barrel

Expats hold the key to whether its big offshore oil deposits bring riches — or ruin.
Wedged between Brazil and Venezuela, Guyana could easily go unnoticed. It has fewer than 750,000 people and a per capita income of $4,300, half the regional average, qualifying it as the hemisphere’s third-poorest nation.
 At the moment, Guyana also might be its luckiest. Having struck big oil offshore starting in 2015, industry experts reckon total reserves at around 2 billion barrels. That bounty could make Guyana immeasurably rich and Latin America’s biggest producer in less than a decade – or just another Trump-hole.   Continue reading

Barbadian Media Houses Must Go to Venezuela and See for Themselves

Barbados Underground

Submitted by David Comissiong, President of the Clement Payne Movement

From the left – Kaymar Jordan, Barbados Today, Anthony Bryan, Barbados Advocate, Anthony Shaw, Nation Publishing and David Ellis, Starcom Network

I have just returned to Barbados from a four day visit of Venezuela. My elder daughter — noted Barbadian dancer and choreographer Aisha Comissiong — accompanied me and we stayed at the Melia hotel in Caracas, the capital of Venezuela.

This last trip to Venezuela was my fourth visit over the past 13 months. And even though our stay was relatively short, we were still able  to get a general picture of the political and social condition of the country and to make a comparison with the image of Venezuela that the powerful Western news media is so determinedly and comprehensively foisting upon the people of the world.

It is against this background that I would like…

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ExxonMobil’s contract will yield more royalties than gold – Business Minister Dominic Gaskin

ExxonMobil’s contract will yield more royalties than gold annually

Dominic Gaskin Business Minister

Demerara Waves– March 6, 2018 – In the face of persistent criticisms of the Guyana-ExxonMobil agreement, Business Minister Dominic Gaskin on Tuesday railed against critics who see the deal as “chicken feed”, instead saying that it would yearly earn the country more than gold.

Addressing the opening of a Private Sector Commission- organised seminar under the theme “Oil and Gas in Guyana: Perspectives in Guyana”, Gaskin said he had no problem with criticisms of the contract but contended that comparisons with Ghana and Uganda amounted to “incomplete and misleading” information.    Continue reading

Why does Australia FEAR China? – VisualPolitik EN

Why does Australia FEAR China? – VisualPolitik EN

VisualPolitik EN – Published on Feb 5, 2018

It has been 45 years since China and Australia established diplomatic relations. Throughout this time, both countries have established one of the most fruitful, controversial and interesting relationships in the entire planet.    Continue reading

History of British Guiana  (Guyana) – The Booker Prize’s Bad History -By Natalie Hopkinson

History of British Guiana  (Guyana) – The Booker Prize’s Bad History

Gamechanger: China’s New Silk Road – video

The Most Revolutionary Act

China’s New Silk Road

DW (2018)

Film Review

This is a German documentary (in English) about China’s Silk Road* projects, commenced in 2013 based on an agreement between Chinese president Xi Jinping and Kazakh president Nursultan Nazarbayev. The Silk Road will consist of a network of superhighways and high speed trains connecting China to western Europe via Kazakhstan and Russia.

In China, the Silk Road begins at Chongqing, a western city of 30 million dubbed the Chinese Silicon Valley for computer hardware. At present, Europe imports most of their computers from China. At present, it takes them four months to reach China by sea. With the completion of the overland Silk Road network, this time could be reduced to a month or less. Shipping goods overland also enables Chinese companies to avoid growing tensions with the US in the South China Sea.

The Kazakh leg of the Silk Road, which…

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