Question

Briefly describe the three economic and political models followed by the contemporary Carribean nations.

Answer 1

The Caribbean refers to a region of the world where many islands are positioned in close proximity. To be more specific, the countries in this part of the world are situated in the Caribbean Sea, which is the body of water that splits the Atlantic Ocean in two. The continent of Africa lies to the east of the Caribbean, and the Caribbean Sea extends as far west as Central America. here are 13 sovereign island nations and 12 dependent territories, with close political ties throughout the region to Europe and the United States.

The Economy of the Caribbean is varied, but depends heavily on natural resources, agriculture and travel and tourism. The Caribbean has an educated, multilingual workforce and sophisticated financial systems, and is a short hop to the United States, Mexico and other large markets. The region has big potential to further develop its services, logistics, agriculture, creative and digital sectors. The Bahamas, Barbados, Trinidad and Tobago, Antigua and Barbuda and Panama are top five carribean countries according to their GDP per Capita. The Caribbean is one of the most politically complex and varied regions of the world, which makes it difficult to put together a synthesis of the characteristics and features shared by the various countries that make up the region.

The Caribbean includes a variety of state organizations, from presidential republics (the Dominican Republic, Guyana), semi-presidential (Haiti), parliamentary systems (Barbados, Jamaica), and a socialist system (Cuba).according to the United Nations classifications, the Caribbean includes societies with high human development indices (Cuba, Puerto Rico, the Bahamas) comparable to the developed nations, while it also has one of the countries with the lowest human development (Haiti) in the world, and others where the human development agenda faces important challenges (Guyana, Belize).

The economic and political models followed by contemporary Carribean nations are:

Foreign Trade, FDI, and Capital Flows: International Trade is a very important for Caribbean economies. Trade is essential for Caribbean countries development and poverty reduction. Given their small market size, they are dependent on exports to produce manufactured products at efficient scale. And given their natural amenities, they rely on tourism as a major spur to economic activity. Trade in the Caribbean thus makes an essential contribution to increasing employment and reducing poverty by supporting growth. At the same time, the high dependence on trade also makes Caribbean economies vulnerable to external shocks. For example, the global financial crisis imposed substantial job losses in sectors such as tourism that the poor rely on for employment.

Migration: Caribbean leaders recognize that the Caribbean community is more than the people who live on the islands. It is for this reason that major decisions taking place in the region usually include the voice of the Caribbean Diaspora. Emigration has been a response to economic problems since the nineteenth century, and the twentieth century has seen the exodus of Caribbean people to Europe (especially England), the United States, and Canada. Late-twentieth-century Caribbean migration to the United States resulted from changing migration laws in this society.

The Immigration Act of 1965 ushered in a less discriminatory approach, moving away from the preference given to northwestern Europeans. The newly independent countries of the Caribbean sent thousands of their nationals to earn a living and create lives in America. Today, Caribbean immigrants live in large numbers in cities such as New York, Miami, Boston, and Philadelphia. Caribbean people have made major contributions in all fields of American society. This post-1965 migration to the United States was predominantly female, compared to the male-dominated emigrations of the Caribbean past. The people at home continue to rely on their relatives abroad for remittances to provide education, shelter, and daily maintenance, especially where the domestic economy has denied its citizens any means of making a living. Indeed, remittances are largely responsible for the sustenance of many Caribbean societies.

On attaining independence, the ex-British Caribbean colonies adopted the Westminster model of government. This models places great emphasis on the role of parliament in the government of the country.

Socialist presidential system of Cuba: Cuba has had a communist political system since 1959 based on the "one state – one party" principle. Cuba is constitutionally defined as a Marxist–Leninist socialist state guided by the political ideas of Karl Marx, one of the fathers of historical materialism, Friedrich Engels and Vladimir Lenin.