RAPIDLY growing and volatile economies such as Guyana promise huge potential for growth but also pose political, monetary, and social risks. We have to come to grips that despite political wrangling, especially by the opposition parties that Guyana as a growth economy is taking shape.

Rapid growth in many sectors can be attested by investment by developing countries such as China, India and Brazil. Although in Guyana’s case, our Brazil infusion is still in the infancy stages and poses the biggest growth strategy for our economy.  Sudden rapid growth is expected as we complete negotiations with Brazil on the road connection and shared energy solutions.
It will be key, how emerging economies such as Guyana and developed countries such as China, Brazil and India manage their relations and that will shape the future of our nation. The lack of vision and economic know-how by current opposition leaders can affect such relationship with these countries. The recent anti-Chinese rhetoric by the opposition can have grave impact on Guyana.
China, India, Brazil and other countries have contributed significantly to the growing global economy. The figures display that these economies have contributed to over 50% of global growth over the past five years. Their strategy especially as it relates to Guyana is to come with money, manpower and know-how. The benefits to the nation can be measured in the growing middle class we are experiencing.
These economies that are investing in Guyana are not free riders. At the stage of our nation’s development, we have to do our best to understand the risks involved and how best to manage.   I challenge Mr. Granger, the Opposition Leader to present his economic plan that displays a growth model for the economy.

The lack of infusion of ideas, alternative budget approach or expertise on economic development have been evident over the last year in Parliament; where all they have achieved was a temporary speaking gag on the Minister of Home Affairs.
When one is not in the seat, it is always easier to criticise. I remember one private meeting with the Late President Desmond Hoyte, in Miami, when we met with Brazilian and Taiwanese investors on the funding of $400M for the road to Brazil. I distinctly remembered when they looked at Mr. Hoyte and said you know what is expected “being the recognition of Taiwan” he shook his head in acknowledgement.
I realise then and there how decisions have to be weighed. All governments must weigh the risks involved but at the end of the day, their goal is to ensure the development of the nation to benefit the people.
It has been said many times, China needs the world; the world also needs China. China will continue to promote the common development of all countries in the course of pursuing its own development. I believe that is economic superpower. Other developed countries such as the USA have to figure out how to compete better.
We have to be thankful in the case of our own nation of Guyana that the Chinese and Indians have come with both money and manpower while other countries sit on the sidelines without any major investment. Private Canadian and Australian companies investing in the mining industry also brings great value.
We look forward to the Brazilian infusion as it will have the most radical impact on our country. It is in the best interest of our current government to get ahead of this and I am pleased that recent discussions by the President and his Finance Minister demonstrates that we understand the next phase and we are ready to continue the growth strategy of our nation to the benefit of all Guyanese.