What Happened To Our Economy By: Anthony Pellegrino

Sometimes I get the feeling that we are walking forward with our heads backward. We yearn for 1986 through early 1997the “golden years” when everybody was on a roll making money and tourists were flooding into the CNMI. Land was being leased at fabulous prices. New hotels and other attractions were filling the skyline of Saipan. Ah, yes, those were the good old days. How we wish they would come back. Sigh! But….

Our government laments revenue is way below previous years. Tourists are not flocking here as previously. No new hotels are piercing the skyline. And we categorically blame all these problems on the recession in the countries around us such as Japan and Korea. The reasoning goes: if these countries become prosperous again, we become prosperous. But is this realistic? This is sadly a myopic view of a major problem.

Is the recession the underlining cause why investors are reluctant to invest in the CNMI? Is the recession the cause for the government to bash existing businesses who are trying to weather this recession?

Let’s take a hard look at ourselves and see if maybe–just maybe–we haven’t ourselves created some of the dilemma we are in. As Pogo said: “We have met the enemy and it is !”

We can recapture the business investments and tourists if we seek the real reasons why investors have lost interest in coming here. It will take a bit of soulsearching and admitting that we actually caused a great deal of the trouble we are in currently. The answers will surprise us if we are honest and truthful with ourselves.

Consider: the islands are as beautiful as ever–the sunsets lovely as always. The ocean still enticing. The people as friendly as always. We are the same people and living in the same lovely islands as we were in the prosperous 80’s and early 90’s. So what happened? Where did we go wrong? Why are investors not interested in coming to the CNMI anymore?

The answers are obvious if we open our eyes to see and our ears to listen. As any addict or any truly sick patient knows until that person admits that he has a problem and desires to improve, all the remedies are useless. It is a painful beginning to admit ones shortcoming, but once acknowledged improvement is almost guaranteed.
There is no need for fingerpointing or accusations.

I write with a sense of tragic optimism hoping some of us will realize that we–all of us –are responsible, not only for our individual actions, but also responsible for group actions and decisions that guide our island’s destiny. We created the prosperous years, and we can recreate them again if we are willing to make some admissions and stop any selfdenial.

Denying that we have made and are still making mistakes will only hasten further economic demise. The islands cannot remake themselves, but its people can. We
keep forgetting that it is people who make other people act or react towards our wishes or away from them.

The government may not have a sound economic plan. But a plan is only as good as the people who implement it. No one cares about anybody else’s plan unless he sees an advantage in it for himself. All actions must be a winwin situation. All sides must come out as winners.

Why have potential investors turned their backs on the CNMI? Why are the hotels, tour agents, garment industry, and other current businesses fast losing faith in continuing operating here? Are we ready for selfexamination and for the sacrifices necessary to recreate our prosperity? (Continued)