Waltzing with economic recovery

The recently concluded so-called “economic summit” confirmed that economic recovery is a slow, if not, protracted process that would gradually return between 2001-2005. This recovery, however, is all about Japan turning the corner two years from today. In no way would the ripple effects of such recovery in Japan benefit the Commonwealth of the Northern Marianas until about two years after Japan puts its economic house in order.

By then, tourism “as we know it” would have taken a different scheme altogether which exudes crystal clear messages that it won’t rebound as quickly as we wanted it nor will it recapture its coveted seat as the prime economic engine of the Marianas Archipelago. We may want to expand it via more hotel rooms, but even this scheme is suspect if recovery and a change in behavior in Japan’s traveling public opts for something different than what we’re used to in this industry.

The mixed and troubled scenario of what lies ahead for tourism places a greater challenge on local leadership for creative economic schemes beyond conventional revenue generation. Central to this issue is whether we can ably find economic substitutes for both tourism and apparel manufacturing. It’s all very uncertain what with the constant assault against the local economy by the Asian Contagion and the fatal effects of federal policy instability that have adversely affected both current and future investors. It permanently shuts the doors for any appreciable and lasting investments in the NMI. It goes to illustrate the well of mediocrity on the part of Interior’s OIA in dealing with the needs and problems of insular governments.

This policy of economic brinkmanship so imposed by OIA amidst a fiduciary obligation to assist the NMI “attain a higher standard of living” has been redefined by mediocre OIA bureaucrats to mean the permanent ruination of our livelihood with impunity. It forces a quick erosion in our faith as unrepresented US Citizens in the halls of the US Congress, not to mention our exclusion in US Presidential Elections all prohibited by geography–not being within the contiguous land of the US mainland.

Nothing is going to change our view that the best government is the one that governs the least. Piling up more layers of government so dedicated to imposing strangling laws and regulations as to effectively stifle wealth and jobs creation is the perfect prescription to sending the NMI and all insular governments into the dark abyss of financial insolvency. The indigenous people also have their own dignity and pride and helplessness isn’t our vision of a better and brighter tomorrows for our children. Si Yuus Maase` yan ghilisow!