Caribbean economies are said to be very vulnerable. Globalization has brought us closer as a world...

 

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Caribbean economies are said to be very vulnerable. Globalization has brought us closer as a world than we ever were before. Its benefits are experienced by all, but its challenges seem to way heavier on certain economies. Turks and Caicos Islands is no exception as a British Overseas Territory (BOT). The islands enjoyed surplus balance of payments until 2020. The Government of the Island (TCIG) opted to borrowed USD$80 million from the Trinidad and Tobago based Republic Bank Limited (RBL). a. Discuss in great detail THREE (3) internal factors, with illustrating examples, that hinder economic development within the Turks and Caicos Islands and what can be done to overcome them. b. Explain the negative side effects of globalization to the TCI economy. C. Identify and elaborate on ONE (1) recent effort of the TCIG toward the economic development of TCI. d. Using Sir Arthur Lewis's Model of Development discuss Turks and Caicos' development over the years. e. Quickly explain ONE (1) criticism of the Human Development. Index (HDI). Caribbean economies are said to be very vulnerable. Globalization has brought us closer as a world than we ever were before. Its benefits are experienced by all, but its challenges seem to way heavier on certain economies. Turks and Caicos Islands is no exception as a British Overseas Territory (BOT). The islands enjoyed surplus balance of payments until 2020. The Government of the Island (TCIG) opted to borrowed USD$80 million from the Trinidad and Tobago based Republic Bank Limited (RBL). a. Discuss in great detail THREE (3) internal factors, with illustrating examples, that hinder economic development within the Turks and Caicos Islands and what can be done to overcome them. b. Explain the negative side effects of globalization to the TCI economy. C. Identify and elaborate on ONE (1) recent effort of the TCIG toward the economic development of TCI. d. Using Sir Arthur Lewis's Model of Development discuss Turks and Caicos' development over the years. e. Quickly explain ONE (1) criticism of the Human Development. Index (HDI).

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Answer Internal factors hindering economic development within the Turks and Caicos Islands TCI include Limited Diversification of Economy The TCI economy heavily relies on tourism and offshore financi... View the full answer