BUSINESS MONDAY: Griffith: US must sustain link with the Caribbean

BARBADIAN Rasheed Griffith is suggesting that it is not too late for the US to arrest the deepening of the China-Caribbean engagement that could go contrary to American strategic interests.

Griffith made the comments when he appeared before a US Congressional Commission last week.

“But it requires wrestling with the facts on the ground and countering with realistic and robust alternatives,” the Barbadian podcaster told the hearing.

He pointed out that by geographical, historical, and cultural fact, the Caribbean is tethered to the US – not China. “However, the US has to be a reliable partner in sustaining that link,” he maintained.

Griffith was the sole Caribbean expert invited to appear before the US Congressional Commission on US-China Economic and Security Review at a public hearing held online on May 20.

The topic of the hearing was “China in Latin America and the Caribbean”, and other non-US presenters were from Chile, Mexico and Brazil.

In his written testimony, Griffith contends that, “Little effort has been placed on honing a nuanced understanding of what the Caribbean has gained and hopes to gain from its engagement with China.”

The Caribbean, he said, is not an idle player. Rather, regional governments actively seek deals from Chinese firms and government organizations – often with significant success.

“The fundamental question should not be, ‘Why is China engaging in the Caribbean?’ Rather, it should be, ‘Why do Caribbean countries so readily seek out deals with Chinese firms?’” Griffith stated.

The presentation is a mine of information on Chinese investment in the Caribbean, covering the Baha Mar Resort in The Bahamas, the “largest project of its kind in the Caribbean”; the North-South Highway in Jamaica; and the Antigua and Barbuda Special Economic Zone.

Also discussed were the role of international financial centres in the Cayman Islands and the British Virgin Islands in facilitating investment flows between China and the US, and the benefit from Chinese investors to Caribbean states that have offered Citizenship by Investment programmes. Griffith also recounted Taiwan’s efforts to secure repayment of loans to Grenada after the devastation of Hurricane Ivan in 2005.