Features
Is Catastrophic Collapse Imminent?
by Kumar David
An optimist would venture to say that an economic catastrophe is not imminent, using the adjective imminent literally. He would be emboldened to make this remark because a restructuring deal, maybe a tough one, seems likely to come out of the negotiations with the IMF. Since all other lenders take their cue from the IMF thanks to its expertise and experience, Sri Lanka is likely to clinch agreements of different forms with China, India and Japan; life will go on. The country seems important enough for international actors such as India, China, America, Britain, Japan and the QUAD to be concerned about; in the case of India strategic concern is natural. America threatened war if Cuba stationed Soviet nuclear missiles, and now Russia is apoplectic at the thought of NATO getting its fingers around its neck via Ukraine, Finland and Sweden. No great or regional power will allow foreign bases near its land borders or its littoral waters. India’s anxiety is no surprise but such concerns should not be a passage to America and Europe. Actually, Lanka has little relevance to the Quad strategy of encircling China and is irrelevant to NATO’s scheme to suffocate Russia. The so-called Indian Ocean strategic zone too is a myth.
Therefore, my view is that the ongoing flurry is not primarily strategic or about world-power relations; the spurt of foreign interest is political and psychological. The psychological facet is that though we know we are a bunch of s.o.bs, foreigners, poor suckers, have affection for this island, and believe it or not its undeserving people. Let’s not spoil this advantage; let’s keep the charm of genuine non-alignment alive. Competition for mating-rights gets us, petrol, cooking-gas, milk-powder, pharmaceuticals and dhal. It would have been helpful if we had slaughtered fewer Tamils and now refrain from harassing Muslims on trumped-up charges. Lanka is no dream democracy; it is the site of militant and state-terrorism and crass military-police human rights abuse at the instigation of the JR, Premadasa Snr. and Mahinda regimes. It has been a locale of brazen plunder by political leaders, and not only in the (Raja)Paksa era. Racism is widespread among the people, but then ethnic intolerance is a global pandemic.
This is all true but there is another crucial aspect. Lanka is one of few post-colonial outposts where constitutional governance, admittedly imperfect, survives. Our giant neighbour India is another. This is different from Burma, Pakistan, Cambodia, Thailand (never colonised) and 50+ countries across Africa, Central Asia and Latin America. Hence my thesis is: India and the West, though they will be tough on economic reforms (IMF, West) and political changes (India), will not allow Lanka to collapse into anarchy and chaos. The uncles and aunties crowding over our crib will throw a lifeline before we asphyxiate. Can you imagine India, the West or China standing by and doing nothing if Lanka sinks into bedlam? We do not deserve a reprieve, but international political and psychological concerns will play out to our profit to prevent catastrophic meltdown. This is my hypothesis; let’s see if events prove the hunch correct.
However, this hypothesis does not allow conclusions to be drawn about politics or the traumatic fuel crisis of this (late June) moment; fuel is the litmus test that will decide whether RW’s administration survives. So far it has been paralysed and it has failed to inspire confidence that it has a way out. It must stop deceiving the public about the state of the fuel supply-chain. It will have to find an immediate fuel fix if mounting violence outside petrol stations is to be contained. This is the moment’s do-or-die challenge.
Of course, our congenital problems will persist but sudden death will likely be averted for now, that this till the IMF negotiations are finalised and implemented. Three IMF teams visited the country, one examining fiscal balance and seeking to restore a measure of equality between government expenditure and revenue and a second looking broadly at public finances (money supply, debt, banking, financial stability, social welfare). The third team worked on debt restructuring and interacted with legal advisors cum consultants hired by the government, Lazard and Clifford Chance. Chance is a London based law firm; Lazard engages in asset management, financial services and is also an investment bank with offices in New York, Paris and London. Judged by conventional norms, we have a strong squad on our side.
The wisest stance for Parliament and the opposition (SJB, TNA and JVP-NPF) to adopt at this juncture is to allow these negotiations to proceed and do nothing to disrupt them. Walking out of parliament when critical negotiations about the country’s financial destiny are in full-swing and the 21st Amendment (maybe renamed 22?) is about to be tabled, is both imprudent and irresponsible. The protocols imposed by the IMF could, at worst, be a repletion of its old Structural Adjustment designs: laissez-faire (nearly unchecked free-markets as in JR, Premadasa Snr times), pro-business, privatisation and foreign capital oriented, inimical to state participation in the economy, hostile to state spending on welfare (health and education) and pushing for labour-market reform (easier firing, lowering real wages). To be fair however we have to wait and see, and some changes to Lanka’s economic structures are in any case justified. RW’s natural inclinations would be to go along with right-wing, market-oriented proposals.
21A (22A?) now finalised and about to be tabled in Parliament is defective; too much power retained by the president despite substantial pruning. Instead of debating and discussing these two urgent matters in the House and from there taking them to the public arena, for the Opposition to walk out of Parliament is an unbelievable act of stupidity. I am surprised Anura, Vijitha Herath and Harini fell for this senseless stunt. They must return forthwith and address the tasks that await them; that is, critically examining the protocols agreed with the IMF and proposing amendments to 21 (22) A.
The RW government should be given the space to work through this emergency (EX) period when the country is in intensive care (say a month or two), but this is not what RW seems to have in his mind. He speaks of remaining in office for much longer: “Once we have established a firm economic foundation you (the people) can hand over power to any political party you wish”. This could be one year, or maybe he has it in mind to hang on till the November 2024 (Presidential) and August 2025 (Parliamentary) elections. RW would then be governing without a mandate from the people (reasonable during an existential crisis such as now) for an extended period; this is unreasonable.
Another matter is that the emergency medications that Lanka will be forced to swallow, whether it likes it or not, to secure urgent foreign debt restructuring via IMF and space from foreign creditors, will not be much different whether Ranil Wickremesinghe or Vladimir Lenin is PM. We are in such a mess that we have to grab any rope that is thrown to us. That’s why I say, allow Ranil to steer during the emergency (EX) period – which madman wants to shoot the pilot in mid-air halfway through a flight?
RW has his known proclivities and policy preferences and some will dovetail with anticipated IMF protocols. We can criticise but may have no option but to accept some. But allowing RW to set the economic direction of the country in next medium-term (MT) say three-year period is another matter; his remit has no electoral mandate. He has a right to his preferences and proclivities but no right to impose them on the country without a mandate. I make a crucial distinction between the period of negotiations with the IMF (the emergency EX phase) and a three to five-year MT economic, financial and social programme that requires a mandate. This is the distinction between trauma-therapy urgently administered during EX and longer-term recuperation strategies to rebuild economy and society.
Will a government elected in say one year be any better? Will there be a smaller number of donkeys and crooks? Have people learnt their lesson? There is a convicted felon seated in Cabinet right now – Mr President and Mr Prime Minister please explain. A multi-billion-rupee tax-dodger has been made a Minister. The voters of Ratnapura returned a convicted murderer to parliament. But this is what we call democracy – the right of the people to choose which bunch of vampires will suck their blood next time. Unfortunately, there is no acceptable alternative to democracy; a one-party state will not survive without open revolt because of our post-Donoughmore past and also because our national ethos and psychology will not accept it. The other option, a military regime will be hell on earth, so no more mention of that.
Why has the Lankan economy collapsed? Depending on how far back you go and your preferred ideology the answers are many, and all true. The following are the most frequently adduced.
* National consumption far exceeded production for seventy years and we ate our way into debt.
* Excess consumption was financed in part by foreign borrowing which plunged the country into the black-hole of ‘dollar indebtedness’.
* Export earnings fell far short of import expenditure (chronic balance-of-payments deficit).
* Government finances were out of kilter, with revenue falling way short of expenditure and the indebtedness was paid for by reckless rupee printing (chronic fiscal-deficit).
* Stupid projects by Rajapaksa regimes (Mattala Airport, Hambantota Harbour, Lotus Tower, Hambantota Stadium, show pieces named after Mahinda Rajapaksa) bankrupted the country.
* These projects were financially wasteful and executed either as prestige ventures or to collect commissions from contractors. These are part of staggering corruption activities amounting to billions of dollars perpetrated by the Rajapaksa Clan, re-elected with a massive majority!
* Breakdown of the rule of law and judicial independence.
No country can withstand such an inferno of epidemics, pestilences and plagues. It is all of this that has come together in 2022 to sink the ship. If it survives for the few EX-months, then the next step is elections to empower a government for MT. My preference is social-democracy with a well thought out dirigisme (state directed) component in its economic policy package. If it is necessary to wait till next time round for the electorate to mature and elect this option, let’s wait till vox populi comes around. Most likely a centrist or centre-right alliance will be elected in an election right now (options, Sajith, Ranil-Sajith, Dulles-led SLPP). Their right or centre-right policy spaces will be defined by terms like, market-oriented, business-friendly, private-sector led development, privatisation, restructured labour-market, FDI oriented, and rather harsh on the grassroots regarding welfare and subsidies.
A social-democratic alternative will have to borrow some of this but the difference will be in implementation and orientation. Eran Wickramaratne in “A Just Tax System” Daily Mirror 27 June writes in a vein where social-democrats seeking to direct the economy (dirigisme) into just directions cannot ask for more (Was he ever a Party Member!). In recent decades, lines have blurred everywhere between avant-garde liberalism and 21st-Century social-democracy.
This brings me to a last thought. The LSSP’s Tissa is sharp and intelligent; what on earth is he doing with that spent force Vasu and two jackals Wimal and Udaya? Isn’t it as clear as daylight that the LSSP must move over and align itself with the new left (JVP, FSP etc)? Yes, yes there’s 1971 and 1989 and the five-lessons, and etc and etc. Who doesn’t know all this? I wrote the first left critique of the JVP (Ajith Samaranayake did a brilliant translation) which the Party published 50 years ago. But it’s not that same world any longer Comrade!
by Dr Gotabhya Ranasinghe
Senior Consultant Cardiologist
National Hospital Sri Lanka
When we sought a meeting with Hon Dr. Ramesh Pathirana, Minister of Health, he graciously cleared his busy schedule to accommodate us. Renowned for his attentive listening and deep understanding, Minister Pathirana is dedicated to advancing the health sector. His openness and transparency exemplify the qualities of an exemplary politician and minister.
Dr. Palitha Mahipala, the current Health Secretary, demonstrates both commendable enthusiasm and unwavering support. This combination of attributes makes him a highly compatible colleague for the esteemed Minister of Health.
Our discussion centered on a project that has been in the works for the past 30 years, one that no other minister had managed to advance.
Minister Pathirana, however, recognized the project’s significance and its potential to revolutionize care for heart patients.
The project involves the construction of a state-of-the-art facility at the premises of the National Hospital Colombo. The project’s location within the premises of the National Hospital underscores its importance and relevance to the healthcare infrastructure of the nation.
This facility will include a cardiology building and a tertiary care center, equipped with the latest technology to handle and treat all types of heart-related conditions and surgeries.
Securing funding was a major milestone for this initiative. Minister Pathirana successfully obtained approval for a $40 billion loan from the Asian Development Bank. With the funding in place, the foundation stone is scheduled to be laid in September this year, and construction will begin in January 2025.
This project guarantees a consistent and uninterrupted supply of stents and related medications for heart patients. As a result, patients will have timely access to essential medical supplies during their treatment and recovery. By securing these critical resources, the project aims to enhance patient outcomes, minimize treatment delays, and maintain the highest standards of cardiac care.
Upon its fruition, this monumental building will serve as a beacon of hope and healing, symbolizing the unwavering dedication to improving patient outcomes and fostering a healthier society.We anticipate a future marked by significant progress and positive outcomes in Sri Lanka’s cardiovascular treatment landscape within the foreseeable timeframe.
by Fr. Emmanuel Fernando, OMI
Jesuit Fr. Aloysius Pieris (affectionately called Fr. Aloy) celebrated his 90th birthday on April 9, 2024 and I, as the editor of our Oblate Journal, THE MISSIONARY OBLATE had gone to press by that time. Immediately I decided to publish an article, appreciating the untiring selfless services he continues to offer for inter-Faith dialogue, the renewal of the Catholic Church, his concern for the poor and the suffering Sri Lankan masses and to me, the present writer.
It was in 1988, when I was appointed Director of the Oblate Scholastics at Ampitiya by the then Oblate Provincial Fr. Anselm Silva, that I came to know Fr. Aloy more closely. Knowing well his expertise in matters spiritual, theological, Indological and pastoral, and with the collaborative spirit of my companion-formators, our Oblate Scholastics were sent to Tulana, the Research and Encounter Centre, Kelaniya, of which he is the Founder-Director, for ‘exposure-programmes’ on matters spiritual, biblical, theological and pastoral. Some of these dimensions according to my view and that of my companion-formators, were not available at the National Seminary, Ampitiya.
Ever since that time, our Oblate formators/ accompaniers at the Oblate Scholasticate, Ampitiya , have continued to send our Oblate Scholastics to Tulana Centre for deepening their insights and convictions regarding matters needed to serve the people in today’s context. Fr. Aloy also had tried very enthusiastically with the Oblate team headed by Frs. Oswald Firth and Clement Waidyasekara to begin a Theologate, directed by the Religious Congregations in Sri Lanka, for the contextual formation/ accompaniment of their members. It should very well be a desired goal of the Leaders / Provincials of the Religious Congregations.
Besides being a formator/accompanier at the Oblate Scholasticate, I was entrusted also with the task of editing and publishing our Oblate journal, ‘The Missionary Oblate’. To maintain the quality of the journal I continue to depend on Fr. Aloy for his thought-provoking and stimulating articles on Biblical Spirituality, Biblical Theology and Ecclesiology. I am very grateful to him for his generous assistance. Of late, his writings on renewal of the Church, initiated by Pope St. John XX111 and continued by Pope Francis through the Synodal path, published in our Oblate journal, enable our readers to focus their attention also on the needed renewal in the Catholic Church in Sri Lanka. Fr. Aloy appreciated very much the Synodal path adopted by the Jesuit Pope Francis for the renewal of the Church, rooted very much on prayerful discernment. In my Religious and presbyteral life, Fr.Aloy continues to be my spiritual animator / guide and ongoing formator / acccompanier.
Fr. Aloysius Pieris, BA Hons (Lond), LPh (SHC, India), STL (PFT, Naples), PhD (SLU/VC), ThD (Tilburg), D.Ltt (KU), has been one of the eminent Asian theologians well recognized internationally and one who has lectured and held visiting chairs in many universities both in the West and in the East. Many members of Religious Congregations from Asian countries have benefited from his lectures and guidance in the East Asian Pastoral Institute (EAPI) in Manila, Philippines. He had been a Theologian consulted by the Federation of Asian Bishops’ Conferences for many years. During his professorship at the Gregorian University in Rome, he was called to be a member of a special group of advisers on other religions consulted by Pope Paul VI.
Fr. Aloy is the author of more than 30 books and well over 500 Research Papers. Some of his books and articles have been translated and published in several countries. Among those books, one can find the following: 1) The Genesis of an Asian Theology of Liberation (An Autobiographical Excursus on the Art of Theologising in Asia, 2) An Asian Theology of Liberation, 3) Providential Timeliness of Vatican 11 (a long-overdue halt to a scandalous millennium, 4) Give Vatican 11 a chance, 5) Leadership in the Church, 6) Relishing our faith in working for justice (Themes for study and discussion), 7) A Message meant mainly, not exclusively for Jesuits (Background information necessary for helping Francis renew the Church), 8) Lent in Lanka (Reflections and Resolutions, 9) Love meets wisdom (A Christian Experience of Buddhism, 10) Fire and Water 11) God’s Reign for God’s poor, 12) Our Unhiddden Agenda (How we Jesuits work, pray and form our men). He is also the Editor of two journals, Vagdevi, Journal of Religious Reflection and Dialogue, New Series.
Fr. Aloy has a BA in Pali and Sanskrit from the University of London and a Ph.D in Buddhist Philosophy from the University of Sri Lankan, Vidyodaya Campus. On Nov. 23, 2019, he was awarded the prestigious honorary Doctorate of Literature (D.Litt) by the Chancellor of the University of Kelaniya, the Most Venerable Welamitiyawe Dharmakirthi Sri Kusala Dhamma Thera.
Fr. Aloy continues to be a promoter of Gospel values and virtues. Justice as a constitutive dimension of love and social concern for the downtrodden masses are very much noted in his life and work. He had very much appreciated the commitment of the late Fr. Joseph (Joe) Fernando, the National Director of the Social and Economic Centre (SEDEC) for the poor.
In Sri Lanka, a few religious Congregations – the Good Shepherd Sisters, the Christian Brothers, the Marist Brothers and the Oblates – have invited him to animate their members especially during their Provincial Congresses, Chapters and International Conferences. The mainline Christian Churches also have sought his advice and followed his seminars. I, for one, regret very much, that the Sri Lankan authorities of the Catholic Church –today’s Hierarchy—- have not sought Fr.
Aloy’s expertise for the renewal of the Catholic Church in Sri Lanka and thus have not benefited from the immense store of wisdom and insight that he can offer to our local Church while the Sri Lankan bishops who governed the Catholic church in the immediate aftermath of the Second Vatican Council (Edmund Fernando OMI, Anthony de Saram, Leo Nanayakkara OSB, Frank Marcus Fernando, Paul Perera,) visited him and consulted him on many matters. Among the Tamil Bishops, Bishop Rayappu Joseph was keeping close contact with him and Bishop J. Deogupillai hosted him and his team visiting him after the horrible Black July massacre of Tamils.
Sri Lanka-Singapore Free Trade Agreement
By Gomi Senadhira
senadhiragomi@gmail.com
“You might tell fairy tales, but the progress of a country cannot be achieved through such narratives. A country cannot be developed by making false promises. The country moved backward because of the electoral promises made by political parties throughout time. We have witnessed that the ultimate result of this is the country becoming bankrupt. Unfortunately, many segments of the population have not come to realize this yet.” – President Ranil Wickremesinghe, 2024 Budget speech
Any Sri Lankan would agree with the above words of President Wickremesinghe on the false promises our politicians and officials make and the fairy tales they narrate which bankrupted this country. So, to understand this, let’s look at one such fairy tale with lots of false promises; Ranil Wickremesinghe’s greatest achievement in the area of international trade and investment promotion during the Yahapalana period, Sri Lanka-Singapore Free Trade Agreement (SLSFTA).
It is appropriate and timely to do it now as Finance Minister Wickremesinghe has just presented to parliament a bill on the National Policy on Economic Transformation which includes the establishment of an Office for International Trade and the Sri Lanka Institute of Economics and International Trade.
Was SLSFTA a “Cleverly negotiated Free Trade Agreement” as stated by the (former) Minister of Development Strategies and International Trade Malik Samarawickrama during the Parliamentary Debate on the SLSFTA in July 2018, or a colossal blunder covered up with lies, false promises, and fairy tales? After SLSFTA was signed there were a number of fairy tales published on this agreement by the Ministry of Development Strategies and International, Institute of Policy Studies, and others.
However, for this article, I would like to limit my comments to the speech by Minister Samarawickrama during the Parliamentary Debate, and the two most important areas in the agreement which were covered up with lies, fairy tales, and false promises, namely: revenue loss for Sri Lanka and Investment from Singapore. On the other important area, “Waste products dumping” I do not want to comment here as I have written extensively on the issue.
1. The revenue loss
During the Parliamentary Debate in July 2018, Minister Samarawickrama stated “…. let me reiterate that this FTA with Singapore has been very cleverly negotiated by us…. The liberalisation programme under this FTA has been carefully designed to have the least impact on domestic industry and revenue collection. We have included all revenue sensitive items in the negative list of items which will not be subject to removal of tariff. Therefore, 97.8% revenue from Customs duty is protected. Our tariff liberalisation will take place over a period of 12-15 years! In fact, the revenue earned through tariffs on goods imported from Singapore last year was Rs. 35 billion.
The revenue loss for over the next 15 years due to the FTA is only Rs. 733 million– which when annualised, on average, is just Rs. 51 million. That is just 0.14% per year! So anyone who claims the Singapore FTA causes revenue loss to the Government cannot do basic arithmetic! Mr. Speaker, in conclusion, I call on my fellow members of this House – don’t mislead the public with baseless criticism that is not grounded in facts. Don’t look at petty politics and use these issues for your own political survival.”
I was surprised to read the minister’s speech because an article published in January 2018 in “The Straits Times“, based on information released by the Singaporean Negotiators stated, “…. With the FTA, tariff savings for Singapore exports are estimated to hit $10 million annually“.
As the annual tariff savings (that is the revenue loss for Sri Lanka) calculated by the Singaporean Negotiators, Singaporean $ 10 million (Sri Lankan rupees 1,200 million in 2018) was way above the rupees’ 733 million revenue loss for 15 years estimated by the Sri Lankan negotiators, it was clear to any observer that one of the parties to the agreement had not done the basic arithmetic!
Six years later, according to a report published by “The Morning” newspaper, speaking at the Committee on Public Finance (COPF) on 7th May 2024, Mr Samarawickrama’s chief trade negotiator K.J. Weerasinghehad had admitted “…. that forecasted revenue loss for the Government of Sri Lanka through the Singapore FTA is Rs. 450 million in 2023 and Rs. 1.3 billion in 2024.”
If these numbers are correct, as tariff liberalisation under the SLSFTA has just started, we will pass Rs 2 billion very soon. Then, the question is how Sri Lanka’s trade negotiators made such a colossal blunder. Didn’t they do their basic arithmetic? If they didn’t know how to do basic arithmetic they should have at least done their basic readings. For example, the headline of the article published in The Straits Times in January 2018 was “Singapore, Sri Lanka sign FTA, annual savings of $10m expected”.
Anyway, as Sri Lanka’s chief negotiator reiterated at the COPF meeting that “…. since 99% of the tariffs in Singapore have zero rates of duty, Sri Lanka has agreed on 80% tariff liberalisation over a period of 15 years while expecting Singapore investments to address the imbalance in trade,” let’s turn towards investment.
Investment from Singapore
In July 2018, speaking during the Parliamentary Debate on the FTA this is what Minister Malik Samarawickrama stated on investment from Singapore, “Already, thanks to this FTA, in just the past two-and-a-half months since the agreement came into effect we have received a proposal from Singapore for investment amounting to $ 14.8 billion in an oil refinery for export of petroleum products. In addition, we have proposals for a steel manufacturing plant for exports ($ 1 billion investment), flour milling plant ($ 50 million), sugar refinery ($ 200 million). This adds up to more than $ 16.05 billion in the pipeline on these projects alone.
And all of these projects will create thousands of more jobs for our people. In principle approval has already been granted by the BOI and the investors are awaiting the release of land the environmental approvals to commence the project.
I request the Opposition and those with vested interests to change their narrow-minded thinking and join us to develop our country. We must always look at what is best for the whole community, not just the few who may oppose. We owe it to our people to courageously take decisions that will change their lives for the better.”
According to the media report I quoted earlier, speaking at the Committee on Public Finance (COPF) Chief Negotiator Weerasinghe has admitted that Sri Lanka was not happy with overall Singapore investments that have come in the past few years in return for the trade liberalisation under the Singapore-Sri Lanka Free Trade Agreement. He has added that between 2021 and 2023 the total investment from Singapore had been around $162 million!
What happened to those projects worth $16 billion negotiated, thanks to the SLSFTA, in just the two-and-a-half months after the agreement came into effect and approved by the BOI? I do not know about the steel manufacturing plant for exports ($ 1 billion investment), flour milling plant ($ 50 million) and sugar refinery ($ 200 million).
However, story of the multibillion-dollar investment in the Petroleum Refinery unfolded in a manner that would qualify it as the best fairy tale with false promises presented by our politicians and the officials, prior to 2019 elections.
Though many Sri Lankans got to know, through the media which repeatedly highlighted a plethora of issues surrounding the project and the questionable credentials of the Singaporean investor, the construction work on the Mirrijiwela Oil Refinery along with the cement factory began on the24th of March 2019 with a bang and Minister Ranil Wickremesinghe and his ministers along with the foreign and local dignitaries laid the foundation stones.
That was few months before the 2019 Presidential elections. Inaugurating the construction work Prime Minister Ranil Wickremesinghe said the projects will create thousands of job opportunities in the area and surrounding districts.
The oil refinery, which was to be built over 200 acres of land, with the capacity to refine 200,000 barrels of crude oil per day, was to generate US$7 billion of exports and create 1,500 direct and 3,000 indirect jobs. The construction of the refinery was to be completed in 44 months. Four years later, in August 2023 the Cabinet of Ministers approved the proposal presented by President Ranil Wickremesinghe to cancel the agreement with the investors of the refinery as the project has not been implemented! Can they explain to the country how much money was wasted to produce that fairy tale?
It is obvious that the President, ministers, and officials had made huge blunders and had deliberately misled the public and the parliament on the revenue loss and potential investment from SLSFTA with fairy tales and false promises.
As the president himself said, a country cannot be developed by making false promises or with fairy tales and these false promises and fairy tales had bankrupted the country. “Unfortunately, many segments of the population have not come to realize this yet”.
(The writer, a specialist and an activist on trade and development issues . )
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