In reading about the economic transformation of the Southeast Asian region, one often wonders what lessons Guyana can learn from those countries. This writer believes that their success at export and economic diversification holds the key to a similar transformation for the economy of Guyana despite the emergence of oil as part of the latter’s economy. This article seeks to provide some evidence that economic diversification remains a central requirement to the unleashing of Guyana’s economic potential.
One could pick almost any Southeast Asian economy and marvel at the progress that it would have made over the past 50 years. Two such economies that have done remarkably well for themselves were Singapore and Thailand. Not so long ago Singapore was a country with very little going for itself. Like the Republic of Korea, it does not have any natural resources of its own. Economic life was made up of handling the…to continue reading this article, please subscribe. Already a subscriber ? Sign In