In contrast, in Asian territories like Japan and South Korea, production is generally ramped up quite rapidly once any price advantage appears! The upshot is that structural reforms, geared to make an economy much more dynamic, efficient and responsive, can pay rich dividends.
There are certainly many areas in Trinidad and Tobago that can benefit from such reforms, via concerted action towards changes in legislation, institutions, attitudes, technology, modernization of standards and strengthened accountability. 12. At the same time, constant attention must be paid to avoiding excessive central bank  financing of governments, given the implications for inflation.