Price falls may be self-reinforcing if buyers hesitate, expecting prices to come down even further. So it is difficult to say exactly when the market will turn, but experience from both Denmark and abroad shows that once the market begins to recover, it could move fast.
Trinidad and Tobago is in a better position to withstand a global slowdown than our CARICOM neighbors, who have already begun to experience declines in tourist arrivals and in migrants’ remittances. If this goes beyond a certain level, our manufacturing sector which contributes $ billion in exports, but provides substantial employment, could be affected. These are just two examples.