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<span style="font-weight: bold">News Source: OTGNR - </span>
<span style="font-weight: bold"> Confirmed : PIOJ Director General ...amaica (RJR)...</span>
The Director General of the Planning Institute of Jamaica (PIOJ) says Jamaica is not expected to be negatively impacted by the reported stockpiling of bauxite, alumina and other raw materials by China. Dr. Gladstone Hutchinson says China's actions are not a point of anxiety for Jamaica as they stem from the Asian nation's growing demand for the materials.China, which imports bauxite and alumina from Jamaica, is one of four countries, known as BRIC, deemed to be at a similar stage of newly advanced economic development.The group also comprises Brazil, Russia and India.The PIOJ boss says as BRIC countries grow they will demand the kind of raw material that Jamaica has traditionally exported.Dr. Hutchinson says their stockpiling is not being viewed as a future drop in demand but instead as a strategy to smooth out the supply chain.He is of the view that Jamaica stands to gain significantly from the exponential growth, which China's economy has been experiencing.He posited this view against the background of recent media reports that the Asian nation has surpassed Japan as the second largest global economy, behind the United States.
<span style="font-weight: bold"> Confirmed : PIOJ Director General ...amaica (RJR)...</span>
The Director General of the Planning Institute of Jamaica (PIOJ) says Jamaica is not expected to be negatively impacted by the reported stockpiling of bauxite, alumina and other raw materials by China. Dr. Gladstone Hutchinson says China's actions are not a point of anxiety for Jamaica as they stem from the Asian nation's growing demand for the materials.China, which imports bauxite and alumina from Jamaica, is one of four countries, known as BRIC, deemed to be at a similar stage of newly advanced economic development.The group also comprises Brazil, Russia and India.The PIOJ boss says as BRIC countries grow they will demand the kind of raw material that Jamaica has traditionally exported.Dr. Hutchinson says their stockpiling is not being viewed as a future drop in demand but instead as a strategy to smooth out the supply chain.He is of the view that Jamaica stands to gain significantly from the exponential growth, which China's economy has been experiencing.He posited this view against the background of recent media reports that the Asian nation has surpassed Japan as the second largest global economy, behind the United States.