Economic hari-kari
p. 41 · Read in the full issue
From Felise Va'a in Apia
Foreign investments have been seen by a number of people in West ern Samoa as the best answer to the country’s present economic woes, but the government so far has not been particularly keen over the idea and has not invited foreign capital to the same extent as other countries.
The government is justified from the point of view of trying to limit foreign investment in an attempt to slow down the decaying of Western Samoa’s customs and traditions, and protect local businessmen from strong opposition.
But it is hardly justified from another point of view: the country is changing more and more from a subsistence economy to a cash econ omy and, therefore, new problems are arising which require new solu tions. Western Samoa is following a trend noticeable in other underdevel oped countries—its way of life and outlooks are becoming more urban every day.
In such a situation, the question of foreign investments often con fronts the government and the pub lic. Is it a good thing, or bad, and how far should the country encour age it, or limit it?
The question was well debated during the recent visit of a Japan ese mission to study the potentials
for Japanese tourism and investment in the South Pacific.
At a panel discussion in Apia, a press representative asked the Japan ese whether safeguards would ensure that the Japanese, if they did come, would not attempt to dominate the country economically and politically, The Japanese listened attentively but would not answer the question direct. Instead, their chief spokesman replied that this was the very question to which the mission was trying to find an answer.
Other speakers seemed to favour the idea that the Japanese should not be challenged. They argued the Jap anese were trying to do Western Samoa a favour by investing in the country. Therefore, they should be welcomed with open arms.
But as the Samoa Times pointed out in an editorial, the question was not whether Japanese investment should be allowed in Western Samoa.
It was rather, to what extent should foreign investment, including Japan ese, be controlled to ensure it did not harm the country’s interests, for in stance, its culture and existing busi ness, industry and commerce. A country which opened its doors to outside investment without some measure of control would be com mitting suicide, the paper argued.