Dominican economy must change

[NewsWhore]

Eighty years ago the Dominican economy had to make a drastic change from an economy based on the production of sugar to an economy based on services, with free trade zones and tourism providing the most jobs. Now economist Pavel Isa feels that once again the Dominican economy must make changes or face a crisis in the future. The economist, speaking in an interview with Hoy, says that the DR is on the way to suffer an economic crisis because its current economic model is wearing thin and the economy must be restructured now. He says the economy must become more dynamic. He cited the example of the free trade zones, which according to him, grew, not because of competitive forces, but because of protectionist policies implemented by the US. He added that because of this when the sector was opened up to competition, as it has been in recent years, the sector didn't do particularly well. He also added that the tourism sector is pushing itself out of the market because the focus is now on high end tourism and there is not attention being paid to mass priced tourism.

More... (http://www.dr1.com/index.html#5)