Economic Change in The 20th Century
The mainstay of the Caribbean economy, sugar, has declined gradually since the beginning of the 20th century, although it is still a major crop in the region. Caribbean sugar production became relatively expensive in comparison to other parts of the world that developed their own sugar cultivation industries, making it difficult for Caribbean sugar products to compete. Caribbean economic diversification into new activities became essential to the islands.
Read more about this topic: History Of The Caribbean
Famous quotes containing the words economic and/or change:
“In our personal ambitions we are individualists. But in our seeking for economic and political progress as a nation, we all go up—or else all go down—as one people.”
—Franklin D. Roosevelt (1882–1945)
“Becoming more flexible, open-minded, having a capacity to deal with change is a good thing. But it is far from the whole story. Grandparents, in the absence of the social institutions that once demanded civilized behavior, have their work cut out for them. Our grandchildren are hungry for our love and approval, but also for standards being set.”
—Eda Le Shan (20th century)