Resilient or Recalcitrant? Revisiting the Diversification Discourse in the Wake of a Global Recession
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This chapter juxtaposes the experiences of Trinidad and Tobago, Curaçao, and Sint Maarten in the wake of global economic shocks. The political and policy trajectory of these territories have varied implications for their ability to manoeuvre the swiftly changing global economy. For Trinidad and Tobago whose economic development has been primarily based on the hydrocarbon industry and Curaçao and Sint Maarten whose growth and development has been traditionally based on tourism, it is imperative to explore the possibilities for diversification. Since the 2008 global financial crisis, crucial economic areas in these territories have experienced a steady decline, yet, almost a decade later, they are seemingly still grappling to rebound and reorient their policy priorities. As a new decade approaches since the global financial crisis, it is important for these territories to acknowledge the shifting dynamics in the global economy and adopt creative response mechanisms to ensure their survival.
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