Bahamas News
Economic and Financial Experts Assess US-China Relations; Offer Advice for The Bahamas
Nassau, The Bahamas — The People’s Republic of China, in the span of two decades, has transformed itself into an economic superpower the world can scarcely function without. This was one of the perspectives that added context to crucial conversations about the US-China outlook at the Central Banking Summit held at University of The Bahamas (UB) on Tuesday.
“China has gone from being, conceptually, a non-economy. It has gone from being a $2 trillion economy in 2000; today it is a $20 trillion
economy. There has never been growth like that anywhere on the planet,” said Michael Drury, chief economist, McVean Trading.
In the Caribbean region and for The Bahamas, China has become both a critical link in the global supply chain and, at times, a financial partner when the price tag of major infrastructure projects proves difficult to carry alone.
During the summit, facilitated by UB’s Government and Public Policy Institute (GPPI) in partnership with the Global Interdependence Center (GIC), the outlook on US-China relations and how the world will be impacted was a key topic of discussion.
Drury appeared on a panel with Zhivargo Laing, Executive Director of UB’s GPPI. Both gave insight into China’s rapid economic rise and its growing influence over global manufacturing and trade.
“The wish was that China would become a capitalist democracy, and it was on its way there until President Xi Jinping took control of the country in 2012. [Xi] is a Marxist. When you are a Marxist, you believe capitalism will destroy itself,” Drury explained.
Drury, who also serves as an executive and assistant program director with the GlC, noted that the statistics surrounding China’s meteoric manufacturing expansion often evoke strong reactions when presented to audiences across the US.
“The solution for the United States in freeing itself from China’s manufacturing dominance is to find somewhere it can produce goods without depending on China. There is no such place on earth. China produces 30 percent of all manufactured goods,” he said.
The discussion also examined recent efforts by the US to reclaim manufacturing capacity and reverse trends Washington believes could compromise national security.
“The spoken goal of wanting to return manufacturing to the United States essentially means restoring enough production capacity to support national defence,” Drury explained. “The auto industry built the bombers and tanks during World War II. If you don’t have an auto industry, you don’t have an industry you can flip into national defence production.”
For The Bahamas, the geopolitical dynamics has become increasingly challenging to navigate with the latest example being the proposed
specialty hospital project for which the Government of The Bahamas has secured Chinese financial backing. In response, the US, through its newly appointed ambassador, has publicly encouraged The Bahamas to reconsider the arrangement.
Laing, former Minister of Economic Affairs and a UB graduate, offered this contextual view: that The Bahamas understands the importance of maintaining strong relationships with both global powers.
“If we were going to have concerns about any country being overly influential in The Bahamas, it would be the United States of America. Why? Eighty-plus percent of our tourism comes from the United States. We have one of the only U.S. pre-clearance facilities in the world. There are substantial American investments in The Bahamas. Our currency is pegged to the United States. And if we ever needed help in this country, we have no doubt who we would turn to,” Laing said.
Laing noted that the influence of the United States extends beyond economics and geopolitics into the cultural and personal realms.
“We love to go to the United States. We go for education, healthcare, and socializing. But for practical reasons, we also nurture relationships with countries around the world. The Bahamas is not a war state.”
As competition between the two global giants intensifies, Laing offered this advice for policymakers navigating the geopolitical landscape.
“It will continue to be very competitive between these two giants, and if I were advising policymakers in The Bahamas, I would say: keep hugging your friends and shaking the hands of your associates.”
NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ premier wines and spirits distributor is proud to announce the launch of Monument Beverage Co., its newest 100% locally produced ready-to-drink alcoholic cocktail.
Monument, “Made to Celebrate”, perfectly encapsulates everything the brand represents. Created and distributed by CWS, Monument is
inspired by culture, crafted with excellence and bursting with innovation.
This unique beverage celebrates island living with three bold flavors, Ginger Lime, Peach Passion and Melon Fizz. All of which can be enjoyed at an ABV of five-point-two percent.
The brand’s creativity really shines through each can’s packaging. Bold colored stripes, cherished native flora and fauna and of course, national monuments can all be found on each can.
The beverage’s two year plus development is a testament to CWS’ dedication to quality and innovation. Countless hours of tastings, reformulations, focus groups and package design reviews all paid off with the creation of Monument.
Karla Wells-Lisgaris, Chief Commercial Officer of Caribbean Wines & Spirits and Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, shared what this authentically Bahamian made product launch means for the company.
“When we were conceptualizing Monument, we wanted to create a product that not only tasted like The Bahamas but would be an ode to the
nation as well. With those two thoughts in mind, I, along with a team of experts, created three incredible flavors we believe really connect with and celebrate the essence of island living,” she said.
“Additionally, being that Monument is the first product to be 100% manufactured by Caribbean Wines & Spirits, we really wanted to ensure that both the flavors and packaging honored our rich heritage. On each of the cans, you can find various monuments such as the Nassau Public Library in New Providence, the Garden of the Grove in Grand Bahama and the Hatchet Bay Silos in Eleuthera; all of which pay homage to our diverse Bahamian heritage.” Wells-Lisgaris concluded.”
The historic monuments found throughout our islands are more than places we pass every day; they are reminders of who we are, where we’ve come from and the stories that connect us as Bahamians.
Monument is perfectly formulated with quality ingredients, and each can celebrates a collection of these cultural icons from across The Bahamas.
Whether chilling solo beachside, gathered around a family table or backyard a grill with friends, make Monument your sip of choice. Monument is made to celebrate, visit www.cwsbahamas.com today for more details.
NASSAU, Bahamas —– Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, is proud to crown Lady
Kayla of Exuma as this year’s annual Bahamas Goombay Punch Cup winner.
CBC created the Bahamas Goombay Punch Cup to further the advancement of sailing and Bahamian culture through monetary and social support. The competition judges the skipper’s performance across three regattas, The Best of the Best, the National Family Island and Long Island Regattas.
The winning sloop led by Kianno Hutchinson and Joss Knowles showcased their skillmanship in the E-Class category across each round of competition. In addition to winning the trophy, the skippers were awarded a $5,000 donation, an $8,000 stipend to the junior sailing club of their island and a limited-edition Lady Kayla Bahamas Goombay Punch commemorative can, which will be released soon.
Jonathan Thronebury, Marketing Director of CBC shared the significance behind The Bahamas Goombay Punch Cup.
“The Bahamas Goombay Punch is more than a beloved local brand; it’s a vibrant part of our cultural fabric. Just like sailing, our national sport, it carries a rich legacy that spans generations. Recognizing this shared history, we’re proud to support initiatives that celebrate and advance Bahamian culture,” he said.
Hutchinson and Knowles shared what this win meant for them.
“I felt super proud when I realized we won. I am grateful and thankful to God, for good coaches and Joss. It was really an honor winning the
Bahamas Goombay Punch Cup,” Hutchinson expressed.
“I am very honored to have been able to compete in the Bahamas Goombay Punch Cup, I think it is a great concept and idea for a competition and really adds a new motive throughout the regattas. The whole championship was super competitive, and every single race was a fight. Alvington McKenzie was extremely competitive and had us until the Long Island regatta, which made it a very fun and tough competition. Very excited to have been the winner of a super close championship,” Knowles revealed.
Lady Kayla’s owner, Dallas Knowles, shared the team’s winning strategy.
“In sailing consistency is key and our guys in Lady Kayla are some of the best in the business at staying near the top. In the end, that was enough to secure their first Bahamas Goombay Punch Cup win. We are so proud of Joss and Kianno for what they have done in Lady Kayla. Thank you to Caribbean Bottling Company for such an amazing and forward-thinking initiative,” Knowles shared.
The Bahamas Goombay Punch Cup is proud to continue its impact on sailing and community building through clean and fair competition.
For more updates on the Bahamas Goombay Punch Cup and Caribbean Bottling Company visit the website www.cbcbahamas.com today.
NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, is proud to once again support Basketball Smiles for their 27th year.
Upholding its corporate pillar of community outreach, CBC proudly donated $2,000, over 75 cases of Dasani, Powerade and Sprite, reusable
Powerade water bottles and numerous marketing materials.
The annual sporting summer camp offers free basketball and life skills training to Junior and High School students.
Basketball Smiles’ mission of developing leadership qualities while fostering children’s academic achievement and self-esteem aligns perfectly with CBC’s commitment to supporting and empowering youth.
Jazmin Darling, Assistant Marketing Manager for Caribbean Bottling Company shared why the company continues to support this program each year.
“At CBC, we believe investing in our youth is one of the greatest ways to strengthen our communities. We’re proud to support Basketball Smiles each year because it goes beyond the game. This program champions healthy lifestyles, positive values and brighter futures. It’s a privilege to play a role in helping these young athletes reach their full potential each year,” she shared.
Sam Nicholls, Basketball Smiles Camp President and Founder expressed.
“Caribbean Bottling Company is an incredible partner. We are truly grateful for their generous support, which will go a long way in making a positive impact on the lives of our campers,” Nicholls expressed.
CBC is always ready to lend its support toward initiatives and programs that uplift young Bahamians. The impact Basketball Smiles makes on the community is undeniable and is why CBC remains a historic sponsor.
For more information on sponsorship, events and new products, visit www.cbcbahamas.com today.
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