[net-gold] COUNTRIES: HAITI : DISASTERS: EARTHQUAKES: Quake Dashes Hopes for Haiti's Fragile Economy
- From: "David P. Dillard" <jwne@xxxxxxxxxx>
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- Date: Sun, 17 Jan 2010 20:43:22 -0500 (EST)
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COUNTRIES: HAITI :
DISASTERS: EARTHQUAKES:
Quake Dashes Hopes for Haiti's Fragile Economy
Quake Dashes Hopes for Haiti's Fragile Economy
JANUARY 17, 2010, 7:42 P.M. ET
By JOHN LYONS
Wall Street Journal
<http://online.wsj.com/article/
SB10001424052748703569004575008963930935440.html>
A shorter URL for the above link:
<http://tinyurl.com/yedd4o9>
Haiti's earthquake dashed hopes for economic revival that had been
building credibility among aid workers and businessmen days before the
temblor hit.
A scattering of new hotel projects and the return of some garment
manufacturing jobs that had disappeared during a 1990s trade embargo had
inspired tentative excitement about sprouts of growth in an economic
landscape long marked by violence and political turmoil.
<snip>
Even before the earthquake, it was hard to overstate the problems facing
the Hemisphere's poorest country. More than half the country lived in
abject poverty, many in muddy, disease-ridden shanty towns. Haiti's
infrastructure was already in disrepair.
Nearly all manufacturers fled Haiti during the 1990s trade embargo imposed
by the U.S. after a coup. After the embargo ended in 1994, few investors
returned. In 2004, a new United Nations peacekeeping effort got under way
after the nation descended into anarchy again. In 2008, deadly storms,
food riots destabilized the government.
But things appeared to be changing in the last year or so. U.N.
peacekeepers achieved enough stability to make new investment conceivable.
A U.S. Congress vote in 2008 to erase tariffs on Haitian garments created
incentives for manufacturers to return.
----------------------------------------
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