Saturday, February 24, 2018

Lok Jack: China can bring economic benefits

Businessman Arthur Lok Jack believes it may be prudent for Trinidad and Tobago to consider how its relationship with superpower China can bring this country economic benefits.

The chairman of Associated Brands Ltd was delivering remarks at a business forum “China Connect: Trends and Opportunities” at the Arthur Lok Jack Graduate School of Business at Mt Hope on Tuesday.

Among those present was Huang Xinghyuan, Ambassador, Embassy of the People’s Republic of China.

Lok Jack: said: “China’s astonishing economic growth over the past three decades since its reform and the opening up of the outside world is unprecedented. Today, China plays an increasingly important role in world politics and has inspired countries significantly particularly in the developing South.”

He added: “As the second largest economy in the world China continues to defy most business predictions. In the ever-changing structure of power distribution, today, it is prudent to consider how our friendly relationship with China can allow us to grow beyond the traditional trading partners, and, expand from our small country to the furthest corners of the international economy.”

During a panel discussion later, Lok Jack said diversification of industries in the Caribbean region is vital.

“Guyana has extractive industries. In Trinidad and Tobago, there is a shortage of labour,” he said.