Long road to Recovery

We’ve watched with guarded hope that recovery efforts in the Land of the Rising Sun would stay its course. We do so with the knowledge that unless a definitive turn around is had, the benefits of lasting investments emanating from such recovery is equally unlikely.

But we trust that Japan has the resolve and resiliency to regain its global economic strength. We are also confident that she would eventually overcome current difficulties in her financial sector.

We equally beam with guarded optimism to tidings that tourism has seen an increase in arrivals for last month. And we definitely are pleased with the Marianas Visitors Authority’s proactive pursuit of the China market geared toward diversification. It’s not an easy task but one that we fully support in the interest of reviving and strengthening a once thriving sector.

The negative effects of the downturn of Japan’s and East Asia’s economy nearly three years ago has a domino effect here: closure of more than 2,000 businesses. When would we see recovery on our side? Until we have the same number of businesses re-open their doors to spur wealth and jobs creation. And we certainly are praying too that this phenomenon or resurgence of the private sector to a healthy level would take place sooner than later.

Indeed, the road to economic recovery is a long and arduous journey. We hope too that we’ve also benefited from the lessons of putting all our eggs in a single basket. More importantly, we hope that we’ve learned that arrogance and indifference in making these isles the venue of lasting investments is slammed, shut and bolted once and for all. The confluence of the Asian financial crisis and the impact of negative publicity of a federal takeover have certainly tainted the image of these isles among prospective investors.

In this connection, it would do policymakers a whale of good if they learn the essence of the consequence of ill-conceived quick fix policies. We have to transcend the usual provincial attitude in this matter so we can look at policy review beyond instant gratification. In fact, this is the most retarded area that policymakers need to outgrow.

In other words, there’s no more room for adolescency! It’s high time that policymakers take proactive roles in untangling laws and regulations that stifle wealth and jobs creation.

Let us join hands and march together and build brighter tomorrows for our children. However long the road to recovery, this is the time to begin anew with stronger resolve to make these isles the paradise that it should be for posterity. Si Yuus Maase`!