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The Peterson Institute for International Economics best defines globalization as “the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.”

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The Caribbean has made many attempts at integration in the past and continue to strive in this light. The first attempt of integration within the region began with the launch of the West Indies Federation. The Federation was established by the British Caribbean Federation Act of 1956 with the aim of establishing a political union among its members. During their brief operating period, matters such as direct taxation, central planning for development, establishing regional customs union as well as reformation of the federal constitution were tackled. Though short lived from the period 1958 to 1962, its motto ‘to dwell together in unity’ cemented inspiration beyond its collapse which catapulted further attempts at regionalism.

Following the dissolution of the West Indies Federation, The Caribbean Free Trade Association (CARIFTA) quickly emerged in 1965. Its main objectives were to promote expansion and diversification of trade, promote fair competition, stimulate economic development as well as ensure the benefits of free trade were equitably distributed.

1973 birthed the largest movement towards regional integration; Caribbean Community (CARICOM). With 15 member states in agreement, they laid out a plethora of goals they wished to achieve from their joint efforts. Some which included improved standards of living, productivity, economic development and relations for international leverage, enhanced functional co-operation broadly stated. Of all the efforts toward regionalism, CARICOM can be seen as the most impactful and recognized due to its high levels of strategic activity geared towards achieving its multitude of goals.

Subsequent to the previous attempts at integration, the Organisation of Eastern Caribbean States OECS) emerged. With seven states originally signing the agreement treaty, the organization initiated with the intent to promote economic harmonization and integration, protect human and legal rights of citizens as well as encourage good governance amongst the territory. However over time, the members increased to a total of eleven states intending to achieve the goals set out.

Off springing from Caribbean Community, the CARICOM Single Market and Economy (CSME) matured. In 1989, it was established as a strategic move to facilitate deeper roots in integration which would have assisted in the challenges the region faced due to the rapid escalation of globalization. The market’s main objectives include the full use of labour, full exploitation of other factors of production as well as competitive production which all would have allowed for greater trade opportunities.

The most recent movements towards integration was the development of the Caribbean Court of Justice (CCJ). Founded in 2001, the CCJ was designed to be the judicial institution for the Caribbean Community predominantly for cases of last resort. It was premeditated that the Privy Council would no longer be appropriate to serve as the highest court of appeal for Caribbean member states, and as such, the court was established to eventually phase out the English court which long stood as the pinnacle of justice. It’s vision is to “create a justice system where every citizen is secure and has the opportunity to realize his/her potential with guaranteed human rights and social justice; and contributes to, and shares in, its economic, social and cultural prosperity; a Community which is a unified and competitive force in the global arena.”

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BENEFITS OF INTEGRATION THAT FOSTER DEVELOPMENT

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BENEFITS OF INTEGRATION THAT FOSTER DEVELOPMENT

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For the Caribbean to reach its fullest potential for development, it is necessary that attempts be made to enhance integration amongst territories. In order to thrive in a world where globalization is becoming more and more rampant, it is essential that we first work towards integration to ensure we are capable of producing noteworthy contributions.
The concept of integration among the states is possible since the territory shares a plethora of commonalities. Most of these similarities developed due to the geographical location as well as the shared history of colonization. As a result, the Caribbean has evolved to become a diverse melting pot of cultures where every creed and race finds an equal place. Therefore, it would only be wise that efforts towards regionalism be continuously encouraged to assist one another.
The following presented are some of the benefits which the Caribbean is likely to gain from further deepening integration roots with one another.

ECONOMIC BENEFITS:

Allows for cost sharing and risk pooling

One of the largest issues the Caribbean faces with regards to development is the lack of capital to finance investments. Even if the capital becomes available, often times the risk involved is far too high to invest in due to this shortage of capital. This hampers on on the development of islands since they simply cannot afford to mature at the fast pace at which the rest of the world evolves at. By encouraging Caribbean integration, this allows a larger pool of capital contributed by each member state which will decrease the risk level to be used productively. It allows territories to develop their islands comfortably.

Better trade opportunities when united

Globalization was previously defined as the growing inter-dependence of the world’s economies. As such, in order to be a competent contributing economy within the global village, Caribbean integration must occur to level the playing field. International markets are exorbitantly larger than single islands and therefore it is unrealistic to compete with such a large variance. However, if the Caribbean pools together their resources, much greater trade opportunities will emerge. The better opportunities and trades made in accordance with the needs of the country, the faster development will occur.

Rise of income taxes

Integration stimulates upstream and downstream industries as niche and entrepreneurial markets are encouraged to develop. To ensure the efficient running of these businesses, a work force would be required stimulating employment within the economy. When persons become employed, they are required to pay income taxes to the government who then repatriates the money into the development of the islands.

Increased revenue from tourism

As culture diffusion inevitably takes place since integration allows for a racial melting pot to occur, it becomes an art form which drives tourism. The Caribbean is already a top vacation spot globally due to its marketing of sex, sun, sand and sea. Known for its exotic practices, it will act as a further incentive for vacationers to visit allowing a significant revenue stream for the economies. In addition to this, upstream and downstream industries will thrive from increased levels of tourism since accommodations and living expenses must be met increasing the amount of income tax earned. This increased revenues and local taxation stimulates the economy and allows for Caribbean development.

SOCIAL BENEFITS:

Brain gain

By encouraging Caribbean Integration, it can lead to a great brain gain within the respective islands which is a highly valued asset for development. This gain occurs since knowledge will be transferred amongst the territory as people become more acquainted with one another. When a large influx of professionals in various fields settle in territories, it creates a higher standard and further emphasizes the importance of education. These experts therefore serve as a fully competent workforce benefiting residing citizens, as well as simultaneously fostering the ideals of academic ambition to the youth who will follow in their footsteps. Such a phenomenon is critical to development as it allows for the gain of more assets from the future generations since it natures a rise in education levels.

Increased standard of living

Perhaps this may be one of the largest forms of development which integration can provide for citizens. An improved standard of living should and will always be a major goal of integration; a better life for the society. Caribbean integration, by its various ways of knowledge, skill, technology, persons, trade, culture etc. transfers amongst one another allows the society to gain a greater exposure to new concepts and techniques which they can learn from to better themselves. With attempts towards Caribbean integration, one of the achievements of the CSME was the removal of restrictions resulting in the free movement of assets. The greater contact the society had with these assets, the greater their standards of living improved; thus integration aided Caribbean development.

Reduce many instances of social ills

By encouraging Caribbean integration, it efficiently doubles as a preventative barrier against, as well as a healing bandage for a variety of social ills within the society. Many societal problems such as crime and poverty amongst others occur due to a lack of employment. Integration opens new opportunities for earning income as business growth will be encouraged to match that of the international competitors. Even ills such as discrimination can decrease as more exposure to different cultures with the movement of people will hopefully sensitize persons to sharing different views.

POLITICAL BENEFITS:

Stronger economic ties which will encourage stability

Where leaders from various nations are able to effectively co-operate, it allows them to implement agreements with each other where both/all parties can barter for a valuable asset which they did not previously have. It tightens their economic ties, and since economic advancement is such an essential component which a country must develop in order to be competent and fully operational, it can be seen as a functional business relationship. Such political integration develops the Caribbean, in that it allows for economic, as well as political stability within the islands.

Political cooperation can lead to quicker conflict resolution

In theory, resolving conflict where one person maintains full supremacy will be faster as opposed to having to acknowledge the views of an entire panel, however, the reality is that in the long term, it shortens the process of conflict resolution into a more effective manner. In that, a panel of professionals deliberating their expert views on the quickest way to eradicate situations leaves way less room for error so no extra time will need to be spent strategizing other plans. After these conflicts are resolved, it can be a pattern which other islands can use for future reference instead of reinventing the wheel, saving them time and capital to be invested.

Strengthens forefront for international allies

An international territory is significantly larger than any of the Caribbean territories. It therefore becomes difficult to equally and fairly make any sort of agreements or maintain any sort of reputable recognition due to the large size differences. However, with integration, if political leaders co-operate and project one large entity instead of many small voices, it becomes an incentive for larger countries to want to create bonds. This contributes to Caribbean development as it opens opportunities in which the government on behalf of the citizens can benefit from.

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RELEVANCE OF INTEGRATION TO GLOBALIZATION

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RELEVANCE OF INTEGRATION TO GLOBALIZATION

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Due to the large variances in assets inclusive of capital, technology, land, labour and skill, it is impractical to expect a fair trade with international allies who have resources at the tip of their fingers. Therefore it stands that regional integration is in fact very necessary for the Caribbean to benefit all round. Whether globalization was in great emergence or not, integration should be encouraged as it allows for the ease of accessibility of resources for islands in the territories. Globalization however, just expanded those realms of accessibility, widening the scope of available resources. Therefore, the final goal should always be becoming competent citizens of the global village to gain access to all of the territories’ wants and needs, however, arriving at that point requires a destination map. On route to becoming that proficient citizen within the global community, we must first arrive at integration and then proceed to enjoy the full benefits of the journey.