How Does the Legacy of Colonialism Contribute to Some of the Economic Essay

How Does the Legacy of colonialism Contribute to virtu eachy of the Economic Issues Facing Caribbean Countries Today - Essay ExampleColonialism can be defined as the control of people another country (Osterhammel & Frisch, 1997, p15). This involves suppressing the inferior culture. These Caribbean countries hold Jamaica, Haiti, Cuba, Dominican Republic, and Puerto Rico among others. Caribbean countries have common problems, which include financial stress and lack of sufficient investment as a result, they face crisis in the commendation markets. Nevertheless, colonialism impact on the Caribbean countries is felt up to date. Cuba and Puerto Rico gained independence in 1901 whilst Jamaica and Trinidad gained their independence in 1962 (History of the Caribbean 2012). Colonial governments were mostly undemocratic, and emphasized on divide and rule, which weakened the local power institutions. This paper will cover the legacy of colonialism in relation to some of the economical is sues facing the Caribbean countries. Legacy of colonialism and its contribution to some of the economic issues facing Caribbean countries today The Caribbean countries struggled, but were full of courage for many years to attain their freedom and body politic as well. These countries have been a target to many authentic countries due to their natural resources. However, the Caribbean countries have, over the years, seek to improve their economy to no avail they have also tried to engage in robes production, processing of food, and manufacturing of sugar, all of which have ended up in failure. The effects of colonialism have been felt on the Caribbean economy, which have contributed to its weakness. Though the Caribbean countries have attained their independence, some colonial policies hinder the Caribbean economy from excelling, posing as a ground for exploitation. According to The Michael Manley foundation (2006), colonizers of the Caribbean countries benefited greatly from con trolling these countries for instance, slave trade impacted positively on the industrialization of Britain, and as a result, emerging as the wealthiest nation. The colonise countries did advanced partially, as all the profits extracted from their resources benefited the mother countries of the colonizers. In addition, the Caribbean countries were not in a position to produce what they required, but they produced what the colonizers necessitate (The Michael Manley foundation, 2006). Today, the developed nations continue to benefit from the natural resources of the Caribbean countries with insignificant returns. For instance, Trinidad produces oil while Jamaica produces coffee, bananas, and sugar, all of which are exported to the developed countries. The developed nations use these bare-assed materials to the benefit of their countries, and export the finished goods to the Caribbean countries as a result, they make gigantic profits, while the Caribbean countries receive fewer retu rns. Colonialism encouraged the exportation of agricultural goods as a result, the Caribbean countries have move to lay more emphasis on the exportation of such goods rather than investing in their manufacturing industries by expanding them. If the Caribbean countries would expand on their manufacturing industries, they would gain more profits through exporting finished goods, rather than raw goods, and as a result, boosting their economy. Importing more and exporting less is the trend of the Caribbean countries, this trend began in the colonialism era, where these colonized nations imported goods from the colonizing