Sunday, 14 December 2008 1:49 AM

Why Solomon Not Immune?

Dear editor, first of all i want to thank Hubertson Warleds Jr for his response to my recent posting after I responded to the above subject, for Mr. Hubertson's information purposes I have no problem or what so ever understanding the editor's headline, I wasn't confused but rather i was miserably surprised with Mr. Hubertson Warleds Jr's comments who failed to understand my points of argument in my previous posting, that I'm questioning why Solomon Islands will not immune not to the financial crisis but to results or if you like the negative impacts it causes on the economies around the world where Solomon Islands we part of that world called (earth). In this writing I'm going to response to Mr. Hubertson Warleds Jr's confused mind with some additional comments to my previous posting.

Mr. Hubertson Warleds Jr, I'm not saying that reporting on Minister's cautioning is injustice, of course its the primary role of the media, that is to report on the happenings that occur around us, and also I'm not saying that its not the responsibility of the Govt, of course its an obligation of the responsible Govts every where around the world to make sure their respective countries are in a fine condition.
Mr. Huburtson Warleds Jr, I'm not saying too that the Minister doesn't fully understand the globalisation of the current economic crisis that bombard the fabric of the major economies around the world, of course that is one his responsibility to update his Govt about the economic situation of the trading nations, Mr. Warleds you failed and confused to understand the core point in my previous posting as to why i was questioning the usage of the two words "Not Immune"
While I'm sure that Solomon Islands will 'not immune' or 'go through' if you like the crush of the financial system because of the steps taken by the big economies such as US,EU nations, UK, and more specifically to Solomon Islands are Australian and New Zealand, I'm on the other hand see no reason why that Solomon Islands would not immune from negative impacts of the current financial crisis that leads to cause the economic crisis around the world, that for sure Solomon Islands will experience some negative impacts from it on its economy in terms of revenue collection from exports 'IF' China and other Solomon trading partners' growth threat continues to escalate for some times.
Mr. Warleds you also failed to understand why I used China in my previous writing, I'm making reference to China because its imports were declined by 17.9%, which means Mr. Warleds that the countries that do exporting to China including Solomon Islands will also decline respectively based on the volume imported by China for that particular commodity or products, and in the case of Solomon Islands where we have most of our exports to Asian countries ,and China itself accounted for almost 68% for our round log which is the major revenue for Solomon Islands to sustain its economy, then who are you Mr. Hubertson Warleds Jr with your confused mind to question the role China plays in the economic growth around the world and Solomon Islands for that matter, or if you Mr. Warleds not convince that China is one of our major export destination and would want to rely on other Asian nations, then Mr. Warleds you must also understand too that China also plays an significant role in most Asian nation's economy, one very good example is the South East Asia financial Crisis in 1997,apart from the initiatives taken in terms of financial institutional reforms from the respective Govts and the intervention from IMF, China is one of the few countries in Asia that despite the 1997 financial crisis still steady with its economy, and stated by some top economists that because of the China's stable economy with its continue growth, it act as an catalyst to salvage most Asian economies affected by the 1997 financial crisis in terms of trading.
And Mr. warleds also failed to understand when he referred to the recent BOP statistic released on June this year, even though the report doesn't specifically mentioned China by name, there are two points Mr.warleds need to understand. First, from the report is stated that the highest recipients for our exports is Asia, second, most Asian countries in some ways capitalize on China for their growth of their own economy, so if the current growth threat continues to escalate on China, then, it will for sure have some negative impacts to other China's trading partners which Solomon Islands also have trade with them, so Mr. Warleds that is why I questioned the immunity you try to defend not on the financial system of Solomon Islands but on its economy.

Mr. Hubertson Warleds Jr you also failed to understand with your confused mind which leads you to make wrong assumption, that in my previous posting, no way near in my mind I thought and mentioned that the Govt will solve this crisis, but rather what I wrote in my previous posting by suggestion to the Govt is for them to take precaution measures in mind 'IF' happen that the China's economy with other economies are going to face threat as currently experience by many nations around the world including China itself, and Mr. Warleds, if you read carefully you would agree with me that Minister himself admitted why China plays a vital role in Solomon Island's economy, let me quote as reported by the media ".as the single largest importer of Solomon Islands exports, any harm the crisis inflicts on China will have serious repercussion on the Solomon Islands Economy" quote end.

Some body once said that, some people sometimes get confused with the realities in life and they ended up make wrong decisions.

God bless my beloved country Solomon Islands

Disclaimer: The views and opinions expressed in this letter/article are those of Frank S.Bilau and do not necessarily reflect the official policy or position of Solomon Times Online.

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