The Dominican Republic strikes gold

It’s really no surprise to the world that the Dominican has literally hit gold along the border of Haiti.

Image

Photo: lainformacion.com.do

The Dominican Republic has the second largest economy in the Caribbean, that produces an upper-middle income society.

So what will this gold do for the economy?

JOBS! Lots and lots of jobs.

Currently the unemployment rate in the Dominican Republic is 14.7%. WIth this new gold strike, the country is expected to up its work force. Even more than that, it has been promised that the Dominican people “will receive fair compensation for the extraction of resources in their territory.”

The Dominican Republic continues to hold their own economically despite economic troubles to creeping into the nation. They are most known for their Free Trade Zone industry which makes for a bulk of their exports. Their main trade partners include the the US and other western markets, as well as being a part of the WTO.

The country makes a bulk of its money on the globalization of the country. Their main international dependencies include tourism and agriculture. Although the country is not specifically listed in BRIC, they are on the rise economically and despite troubles they have faced in the past, they continue to thrive in a westernized world

-Maria Harper

 

Other Sources:

Steger, Manfred (2013), Globalization: A Very Short Introduction, Oxford University Press

Zakaria, Fareed. “The Rise of the Rest.”The post-American world. New York: W.W. Norton, 2008.

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s