FSM ECONOMY IS POOR. WHAT CAN WE DO TO HELP BOOST OUR ECONOMY MY FELLOW BROTHERS AND SISTERS?

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Comments

  • I think there is a big difference in the geo-specific issue. We're talking about a small island and associated population being drained of a resource that would otherwise sustain said population by an outside entity who would probably pack up and leave once the resources were exhausted. Where would that then leave the indigenous folk?

    In the theoretical situation you suggested with Apple that benefits the local population with longterm secure, to an extent, income. I think there would be public outcry if Apple insisted on bring in workers from the US into whichever territory they operate, a workforce who would then ship the majority of their earnings home. Where would be the local benefit of that?
  • That defeats the purpose of setting up in other countries. Cheap labor. So no company will setup in another country just to bring their own high paid workers over to do the job. MAKES no sense.

    Resource wise, that's where regulations and oversight is critical. Natural resources will be expensed, but managed properly we can benefit substantially
  • I'd hedge my bets that China would flood wherever their corporations are set up with cheap labor willing to take hourly rates greatly reduced from local standards. This was / is one of the main concerns for the ETG fiasco in Yap. A workforce greater than the indigenous population.

    Minimum wage? Does that exist in the FSM? If it did it would just come down to numbers. There is only a very limited resource of available workforce that would be motivated and willing enough to work for the rates and under the conditions offered by resulting 'development'.

    Look at the real world example of King Tex in Yap and Saipan. When that company left the repercussions were felt within the local communities for years. That and given the fact that their workforce, in the majority, was shipped in from China and kept in compounds on the lands occupied by the company. How did that in any way benefit the community at large? The only people benefitting were the landowners and fat cats in seats of power.
  • Isn't that what we elect leaders to do? This forum is useless, voting in new blood that is seriously concerned about fixing things is key.
  • yes and no..i think this forum is good, and it should exercized in the streets of kolonia town...thank you
  • Grass roots movements start somewhere, they have to have unity with a group of people to gain traction. What better place to start than in a community driven forum?
  • exactly!!!thank u my friend...basically we have to work together to accomplish such a great dream..
  • EDUCATION! Well Educated people makes a great nation.
  • karlanna:

    Exactly, and something that the FSM is lacking. We still have about 20 more years to go to attain the number and quality of the Educated FSM Citizens we need.
  • It is not the economy, that we should focus on, instead, we should focus on what caused it to be this way. The fix for the problem is not just the problem, it is what caused it, and when we've figured that part out, only then will we figure out the fix.

    And so far, I don't think we are anywhere near doing that because we are overly obsessed with just the state of the economy and not what causes it to be in its current state.
  • Excessive number of meetings, conferences, economic summits for decades. But no execution or leadership follow through. That's the problem.

  • I've read the FSM National Development Plan which is a big book which is almost as thick as the Holy Bible. And one funny thing about it is that it has more prophecies in it than the Bible. Maybe it was written by prophets in the FSM?
  • The four States need to develop and implement their tourism plans. "BUT" National Government must help them with fundings.
    Let us remember that the National government does not have population. Their main obligation is to deal with the international communities in seeking assistances to help the State governments.
    For example, the National should share whatever amount of money they received from fishing license fees but they are not doing it.
    The States could have make better use of the money then them if we want to develope our States which have the population and tourist sites.
  • It all comes down to the leaders of each state. If only they know how to DEMAND these funds from the national government the states would do just fine. Again, leaders leaders leaders
  • Yep, that is true. You also get the States who, in their drive to seem efficient, spend way less than their allotted funds on tourism promotion which then leads to cuts in subsequent years. This has a snowball effect as costs rise over the same period but the mentality is "Well if you don't spend the funds allocated then it means you don't need them". Tourism budgets should be constant with any outstanding sums to be returned at the end of each fiscal year.
  • the troll is back!!!@Olly_Mars
  • and then get rid of them ASAP and vote new ones in.
  • LET'S SERIOUSLY INVEST IN OUR OCEAN. LET'S GO DO REAL FISHING AND DO PROCESSING AS WELL. IT IS OUR ONLY SURE WAY INSTEAD OF JUST RELYING ON FISHING LISCENSE FEES WHICH VERY MINIMAL. LET'S GO FOR THE BILLION POT OF REAL FISHING AND PROCESSING INSTEAD OF ONLY LESS THAN 100 MILLION IN FISHING FEES.
  • Export, export, export!!
  • Where are those DC when we need them?
  • The concern is how to boost our FSM Economy? That's a hard question to swallow considering all the facts surrounding our economic environment and the current regulations that at times, serve as impediment to the said environment. I guess our challenge now, is how to we - as a group, create a friendly banking system. Of course the banking system is wary of our lack of improved regulation such as the land issue. Let's start from there, I am sure there will be lots of opportunities to open up our market.
  • Lots of comments refereed to undeveloped economic resources such as the tourism industry and fisheries.
    Some of you mention that:
    Excessive number of meetings, conferences, economic summits for decades. But no execution or leadership follow through.
    You also mentions that the funding of priority projects were not done properly. Sharing of fisheries fees or tax never been done.
    Do we have any responsible person, agencies, department, or what er you call it, to ensure that the proper action need to be implemented?
    How can we dealt with and who should dealt with these effectively and properly? What can we do to make things better or improve?
    What needs to be done in the State level and the National level? How can we share the revenue base on the needs of the Nation? What action needs to be done to make sure that the revenue is properly spent and appropriately?
    What is it needed to start this new congress and the new legislature in Chuuk to help these concern and do what is need to move the economy in the right direction? Thanks for your positive comments.


  • Let's not yield to corruption just because it exists everywhere. Now, we have resources that can help improve our economy. That is where our investments should be geared toward.

    But for now as an immediate fix, let's go plant a thousand coconut trees and more.

    Let's go sell our fish and kon over in Guam and America.

    Let's build our human resources and invest more in enhancing training opportunities throughout the federation.

    Let's not just talk; let's dance and sweat.
  • it all comes down to our leaders.... if they learn how to use the Funds wisely then our economy can boost up... leaders need to think wise
  • Bunch of idiots!..don't blame someone for your unsecured life. I don't know how you blame people who were promoting the rave or providing the events. If you people want success, don't rely on other people. If you guys let go your leaders it doesn't mean you hate them, this just mean that you love yourself more than anything in this world. Everything in life have true meanings behind it, Are guns for killing people? You figure it out because pencils do misspelled words. You people need to take care of your action or whatever comes out of your mouth because bad decision is part of life and blaming others is just plain IMMATURE!....welcome to Earth people!....
  • yo Gladiator chill..... no one is blaming anyone.... and yeah we have to step up and do something but we also need our leaders to get involved cause they have more power than us.... power not relating to strength but power as in their position.... you know if we really work together i bet we can boost up our economy..... and yeah we will encounter struggles but itz life.... in order to succeed we learn from our failures!
  • .01percent of FSM population is the leadership. That means 99.9 percent is the individual person. If the 99.9 0/0 is successful individually, the federation will be successful. Stop blaming the leadership. Do your own thing. There's more of you than them.
  • Do we have economic start up projects in our Nation? Who can administer such? Why don't we start with what we have inn hand without waiting for some things to be bough in from over seas?
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