The Tribune

By LATRAE RAHMING

Chief Executive of

Bahamaren

The Christie administration’s overall posture towards China has, in fact, evolved considerably over the past couple of years and is now regarded as the ‘Controversial Pivot’. The Prime Minister’s latest trip offers an opportunity to demonstrate the Bahamas’ commitment and friendship to the People’s Republic of China (PRC).

China’s economic growth over the past decade has been significant; their economy is now worth $17.6 trillion, slightly higher than the United States $17.4 trillion, according to estimates by the International Monetary Fund (IMF). This means china’s economy, after 140 years, is now larger than the US’s.

So, the US or China? For the Bahamas, that is now the primary strategic question. Focusing on the Bahamas Does one represent the future, and the other the past? The motivation for the pivot seems clear: The Latin America and Caribbean ‘centre of gravity’ is shifting toward China, and the Bahamas needs to respond. This is the only logical reasoning for such a geostrategic pivot, and a desire for the Bahamas to re-approach China.

From an economic perspective, a shift in focus is completely understandable, but the political fallout is undetermined. The Prime Minister’s trip represents our country maintaining an alliance, and its economic interests, with the People’s Republic of China. The Government’s overall desire is a positive relationship with China. There is no country as vital as China to the Bahamas’ future economic prosperity. The Bahamas’ engagement with China offers tremendous opportunities for our country if the relationship is leveraged in our best interest. The Bahamas is seeking to expand its relationship with China, recognising that their economy offers significant prospects to secure our future as a leading Caribbean country. The Bahamas enjoys a long history of engagement with China in the areas of education, tourism and investment. The Government is therefore capitalising on their new Asia pivot for long-term economic gain and development.

China continues to drive, and influence, trade and investment around the world, and will remain a high priority country for the Bahamas. The Government’s strategy, thus far, is increasing opportunities for our services industry, education and skill development, agribusiness, trade, tourism and infrastructure development. This pivot is a significant moment between the two countries, leading to a more enduring relationship for mutual prosperity. The Christie administration recognises the need to build a more strategic approach that embraces much more than a one-sided interest or benefit.

The Bahamas pivot to China underscores how fundamental investments are to the Bahamas’ continued economic growth and national well-being. The Government’s engagement with China must be beneficial at all levels of our society. The Bahamian people should support the pivot to China as long as it is in the best interest of Bahamians. The Bahamas has to foster more mutually beneficial involvement with China by identifying - and pursuing - trade and investment opportunities for Bahamians.

The Government has to leverage this bilateral relationship by influencing trade and investment policies where the country’s interests are properly represented. The Prime Minister would be making the right connection by establishing agreements for further co-operation in the area of research and development for the Bahamas.

Understanding the Bahamas’ pivot to China simply means us capitalising on an emerging super power to diversify our country’s economic base, accelerate growth and create jobs in key strategic sectors. The gains of this relationship must be two-way, contributing to social and economic advancement in the Bahamas. Bahamians must be proactive in identifying the opportunities this relationship offers. The Government must maintain consistent, direct diplomatic engagement with China.

The Prime Minister’s engagement with China must actively support local Bahamian business, identifying and pursuing trade and investment opportunities on their behalf. It is imperative that government build support from the Bahamian people through public advocacy and educational activities. The Bahamas’ pivot to China must maximise the opportunities, and prudently manage the challenges, that come with it. And the Government must also acknowledge and denounce the perceptions and suspicions that exist around the country about a rising China.