Central America’s Rising Economic Star
More than four years have passed since U.S. and Panamanian negotiators signed a bilateral free-trade agreement (FTA). During this period, Panama has taken concrete steps to expand labor rights and to increase the transparency of its tax and banking systems. Last November, for example, it signed a tax-exchange sharing agreement (TESA) with the United States, and a few weeks ago the OECD formally added Panama to its “white list” of countries that have “substantially implemented the internationally agreed tax standard.”
Unfortunately, even though the U.S.-Panama FTA now commands strong bipartisan support on Capitol Hill, it has gotten bogged down in partisan disagreements over the extension of Trade Adjustment Assistance.
Meanwhile, the Panamanian economy roars ahead: It is growing faster than any other economy in Latin America, expanding by 9.7 percent (year on year) in the first quarter of 2011. According to a Latin Business Chronicle analysis, Panama is now the region’s top recipient of foreign direct investment as a share of GDP. Within the past month, BCP Securities economist Walter Molano has written that “Panama is on track to becoming a major logistics, transportation and tourism hub for Latin America”; the Economist has declared it a potential “Singapore for Central America”; and Standard & Poor’s has boosted its sovereign-rating outlook from “stable” to “positive.”
One of the biggest factors driving Panamanian growth is a seven-year, $5.25 billion expansion of the country’s famous canal. Launched in 2007 and scheduled for completion in 2014, the project is “perhaps the largest remodeling job in history,” as journalist Tim Rogers has written. An estimated 15 percent of all U.S. trade passes through the canal, and U.S. companies are eager to profit from the ongoing construction work.
In other words, the FTA represents a golden opportunity for the United States to bolster its trade relationship with the rising economic star of Central America. To let the deal fall victim to domestic labor spats would send a terrible signal about U.S. political dysfunction. Again, it’s important to remember that (1) Panama has made the reforms demanded by U.S. lawmakers and (2) the FTA would deliver significant benefits to U.S. exporters.
As Democratic Senate Finance Committee chairman Max Baucus has noted, “Panama’s dynamic and growing economy provides lucrative new opportunities for American ranchers, farmers and manufacturers to help them create jobs here at home. This trade agreement will level the playing field for U.S. workers and exporters by eliminating tariffs and easing customs restrictions on U.S. goods, making it easier for our small businesses to grow and create jobs.”
We are destroying your currency and economy. We are setting the stages for a New World Order and One World Government. The nation-state no longer exists. Patriotism and nationalism is dead. There will some pain for some people. Adjustments will have to be made. It will require a whole new mindset. Don’t think of yourself as an American citizen. Think of yourself as a global citizen, a citizen of the world. We are entering a new era in the history of mankind. Those who refuse to join us will cause themselves unnecessary pain and suffering. A New World Order and One World Government is inevitable, just a matter of time. Those who resist will end up in the dustbin of history. I hope none of you are foolish enough to attempt to resist. Resistance is futile.
Under the guise of free trade we are destroying your manufacturing base, your economy, your currency, and ultimately your sovereignty. Under the guise of all these free trade deals we are erasing your borders, your national identity, your loyalty, we are outsourcing all your manufacturing jobs and destroying the middle class. Your economy is based on nothing. You produce no real wealth. Your economy is a deck of cards which we will collapse when the time is right. We control both political parties. You are peons. You have no power. We control the media, the financial institutions, Wall Street, the corporations, the entertainment industry etc. You are so Balkanized and divided, you will never be able to stand up to us.
The world is changing. Very soon an independent “America” will cease to exist. Get it through your heads. The nation-state is dead. Borders are obsolete. Nationalism is dead. You are not am American citizen. You are a global citizen, a citizen of the world. There is no American economy. There is a global economy. Your system of government is obsolete, irrelevant and inefficient. It will be replaced. Initially, there will be some pain for some people/countries. They will have to adjust to the new way things are done. But long-term things will be much better, much smoother, much more efficient. The world faces many problems, and the only solution is a New World Order and One World Government. We are entering a new period of human history. Those who are stubborn and refuse to join us will cause themselves unnecessary pain and suffering. A New World Order and One World Government is inevitable, just a matter of time. Those who resist will end up in the dustbin of history. I hope none of you are foolish enough to attempt to resist. Resistance is futile.
Best advice- ignore “globist”-but, seriously- are you
a sci-fi addict or a trekkie-I hear some of them
bark like you?
“But without better institutions and more responsible political leadership, Panama will never achieve its loftiest ambitions.
Sounds a lot like Washington and the Obama administration.
Also, Panama has had a booming Jewish community – it has grown from 2,500 to 12,000 in just 40 years, while in Mr. Darenblum’s Costa Rica (once a great friend of Israel, now led by the Jew-hater Arias), the population growth of Jews has been much smaller.
Mr. Darenblum, if you have not addressed the issue of Arias and the Jews, I wish you would.
Is Costa Rica anti-Jewish? I have been there a couple of times, but I don’t remember anti-Semitism.
Eric, the years of Arab mtgration to Panama, Costa Rica, and the rest of Central America are finally showing in the growing anti-semitism and alliance with Iran. Sooner than latter there will be a price to pay for this.
There has been massive Muslim immigration to all of Latin America which has resulted in virulent Jew-hate. Too bad that the Christian infidels are not knowledgeable. In Islam, Jews are targeted first. Christians are targeted second.
There is an infamous Muslim saying in the Middle East: First the Saturday people (Jews). Then the Sunday people (Christians).
Absolutely, true. Linda, this may be shocking for many to find out=note-ALL-all of Latin America,( all of US, all of Canada, all of England, all of France…)
I refer readers to anti-Semitism in Venezuela amd statements made by Chavez, et al..Also note the consistant @10 percent of illegals crossing into US from Mexico are Moslem?? Doesn’t anyone ever question- “Who is helping them?”
I applaud Mr. Martinelli. He is up against evil forces out to topple him-from outside Panama- Chavez, for example. And inside-the narcoterrorists would love to be back in power.. In my opinion, Mr. Martinelli,has achieved very much and is inspiring Panama to reach higher. A true success story in an area of ongoing disasters- Nicaragua for example.