Economist affirms higher freight and container prices could seriously damage the Dominican economy
The economist and politician Fernando Alvarez Bogaert expressed concern about the impact that the breakdown of the global supply chain and the deficit of truck drivers and ship workers in many countries could have on the Dominican economy due to the pandemic produced by the Covid-19.
Citing events such as the increase in freight rates and containers, he assured that if the Dominicans do not prepare, the impact on a general level could be tremendous, since “what is coming here is tremendous.”
Álvarez Bogaert recalled that currently higher prices will have to be paid for containers that go from Asia to the USA, and he put that increase at 400 percent more expensive than before.
By foreseeing destabilizing situations, the economist said that the transformation of the individual is urgent so that there is empowerment in the unions, the universities, so that they create an army of transformers that have nothing to do with parties or politics.
“The pandemic produced a psychological crisis in the truckers, in the members of the ships, due to the year and a half they had in their homes receiving the fiscal bonus and there was an awakening of the truckers,” said Álvarez Bogaert, when dictating the conference “The serious economic and social crisis in the world, Challenges and opportunities for the Dominican Republic.”
He revealed that a fact that has aggravated the supply crisis was that 8% of the truckers of retirement age also retired and others decided to work at home, although they earned less wages since they would spend more time with their families.
In his opinion, it will be difficult to rebuild the framework of globalization that took 19 years and that broke the pandemic, although some economists say that this will be resolved in a year, since “achieving the framework again is not a one-year process.”
Faced with this unflattering global economic crisis scenario, the economist suggested that various sectors of national life contribute their knowledge and achieve true development to overcome the coming crisis.
In that sense, Álvarez Bogaert explained that the Dominican Republic has a series of pillars that support it and that will ultimately lead it to succeed. Among these he mentioned: the youth who are preparing in the universities, the working class, which he defined as efficient and disciplined.
He also pointed to the diaspora, who he said is that with their contributions they have prevented the country from falling. Among the pillars, the prominent economist continued to point out the tourism sector, the free zones, and the rural productive sector.
For Álvarez Bogaert, the business class with solid managerial experience, the religious sector and a people with solid social maturity are also part of these fundamental sectors that will help intelligently face the current crisis.
Hence, the economist raises the preponderant role that the private sector must have, leaving the State the role of coordinating the country and influencing public service operations and all those that the private sector does not intervene.
He affirmed that the greatest problem in the present and the immediate future is in the problem of Haiti, and he drew attention that even though that nation is hitting rock bottom, the responsible international community has practically left it to its own devices.
Álvarez Bogaert called for the Dominicans to remain under permanent surveillance, so that the Dominican territory and our essences remain as a people. “That is our immediate greatest challenge,” he emphasized.
Despite the adverse economic outlook looming, Bogaert said he has faith in the Dominicans who have already overcome other acute crises in their history, and he is confident that they will confront with firmness and deep patriotism the serious challenges “that we are not looking for.”
The activity was attended by prominent personalities from the Dominican political, social, business, and economic world, who followed the talk with great attention, and which they defined as exceptional since it comes “from a politician and economist endowed with great knowledge and wisdom.”