In search of a miracle

When the Government says things are great, it typically means things are good. When it says things are good, things are probably just okay. If it says things are okay, we should, perhaps, start worrying. But on those extraordinary occasions when ominous clouds drift in, skies darken, lightning flashes and thunder and TV cameras roll to unveil the minister of finance warning the nation to brace itself, well, ladies and gentlemen, that is the cue to break the glass, pull the lever and sound the alarm.

Even without the minister's dire warning, it is obvious that our economic prospects are grim. I could turn to my little book of horrors (The World Bank's 'Country Economic Memorandum') and pull out a string of statistics supporting that negative outlook. But that's unnecessary. I'll simply direct you (not you, Usain, everyone else) to your bank books or pocketbooks. Surely, those statistics adequately support my point.

Times are difficult. People are jittery. Our dreams are gradually becoming nightmares. It's not just in Jamaica. In London, the streets are ablaze as young, disgruntled Britons unleash their fury on their own communities. Across Europe, debt crises are threatening the viability of regional integration. United States and global equity markets have plummeted as ideological terrorism in Washington undermines an already fickle economic recovery. From Kensington to Kentucky, the world is in turmoil. And poor, little Jamaica drifts aimlessly, left to fend for herself in a sea of chaos. We need a miracle.

I've been wracking my brain in search of that miracle. I thought about Jesus turning water into wine. But any miracle involving wine and spirits is probably best left for Lascelles deMercado shareholders. Lazarus was raised from the dead. But then the scrap-metal industry needs that miracle more than any of us. It finally hit me: the miracle we need is at our fingertips.

The Miracle of Technology

Over the last several decades, the world has undergone a technological revolution that has transformed virtually all aspects of our lives. A decade ago, the big question in India was whether information and communications technology could be the country's growth engine. With technology contributing five per cent per annum to India's GDP over the past five years, the answer is a resounding yes.

India is now the global leader in offshore IT outsourcing - the process in which a company ships technology functions to cheaper, foreign markets. In recent years, American companies have found it convenient and cost-effective to direct this activity to locations nearer to home - a process known as 'near-shoring'.

This practice has benefited firms in Latin America and the Caribbean to the tune of more than US$2.5 billion. Jamaica has captured about US$150 million per year of that figure - largely from customer-service call centres. If new Commerce Minister Dr Christopher Tufton has his way, this figure will increase exponentially. Tufton has announced intentions to create 20,000 jobs in the sector over the next few years.

Although significant for near- to mid-term job creation and certainly a good start, the true miracle of technology lies beyond low-skill call centres. The full potential lies in harnessing the Jamaican entrepreneurial and creative spirits to exploit the immense possibilities existing in Internet technology, particularly electronic commerce.

A combination of antiquated government policies, listless consumers, and restrictive banking practices has made it virtually impossible for Jamaicans to buy and sell things online. We have forfeited both the direct economic benefits of a thriving Internet marketplace and the residual benefits, including creation of high-skilled jobs in web development, programming, and design.

Of the 10 most-visited websites in Jamaica, none are Jamaica-based. Of the 20 most popular, only three - jamaicagleaner.com, jamaicaobserver.com, and the Gleaner's web portal go-jamaica.com - are local. Only a handful of sites - such as the upstart virtualmalljamaica.com - are making any waves whatsoever in e-commerce. This must change.

Ebay.com; Facebook.com; Amazon.com. These names - none of which existed 15 years ago - have since created billions in wealth. So while the minister's embrace of technology is encouraging, he cannot stop at the low end of the sector. His plan must be vigorous and robust, facilitating the necessary policy, knowledge, and business framework to stimulate growth and catapult us towards sustainable growth.

Plant the seeds, Mr Minister, then step aside and watch the miracle of technology blossom faster than cassava in St Elizabeth soil.

Din Duggan is an attorney working as a consultant with a global legal search firm. Email him at columns@gleanerjm.com or dinduggan@gmail.com, or view his past columns at facebook.com/dinduggan and twitter.com/YoungDuggan.