p
AS TIlE ASIAN am Arabs
have captured tre majori ty of urban
bisiresses, the prevailing oonten­
tion of most people in the civil rights
field, who an: still molding Black
thinking on' ues, has been trot the
cradicati n of racism' the precon­
dition to Black advancement.
We'\<e beencordinoned to lieve
that we can't do anything Without
the removal of racism in America.
If the old saying is tne, that "If
you keep ooin' what you've been
doin', you'll continue to get what
you've always got," �n we reed
to rethink ourselves am ouracnors.
Coming to tre fore or African­
American leadeIShip row is a IY!W,
and growing, element among
Blacks who may belp in more posi­
tive directions for us-Black Con­
servatives. These are different
political aoo economic voices from
those of the traditional civil rights
"leaders."
People soch as Robert Wood­
son, Joshua Smith, Armstrong
Williams and Robert Brown have
suggested that people of our race
reexamine prevailing civil ri�
· strategy and seek alternative
• metOOds to help u; become full
• members oftre American society.
· People of this stripe state that con-
· tinuing a pattern of seeking
governmental morey is not tl1: key
to solving our problems.
They cite that since tbe (iB, the
• federal government etforts have
· been people of tl1: "social service
: i.rG.5try." Tradtional "social ser-
• vice agents" have administered aid
programs at salaries am fees that
corsurred til: bulk of allocated
monies, while tre poor were left
with us to grow into greater num­
bers.
If we stop am examire tre.ef-
· fectof"whatwe'vebeendoin',"we
may corchde that government as­
sistance programs were ap­
propriate when the laws were
Officially structured sgalrs: us.
Now we must pick up our beg,
'stand on our own, and develop
ski� that will allow is to succeed
: aOO not just survive. Perhaps we
• had a right in the past to feel entitled
• to certain � that had been pur­
posely aod wrongly denied us. But
now,oursenseofentitlement titles
our initiative and perseverance, and
we will oot simply do for oursel-
• yes?
If you are rethinking your per­
sonal, am our oollective, direc-
· tions,youmaykoow�leinyour
community wbo are leaders toward
ecooomic progress. We invite you
to fotWaId these rames to The
Business ExclElge for publication
in our 1992 "People to Watch" edi-
: tion. (1264 Natiollll Press Build­
ing, Washingbn, D.C. 2!rn5.)
BUSINESS, FINANCE
The U.S. cannot be
n oasis of
well-being in a sea of
poverty. The debt
crisis of Caribbean
countries has
adverse implications
for the economy and
society of both the
United States and the
Caribbean.
I�
chun f 10 ns by overn-
ments-unli the commercial debt
owed by mo t of Latin America­
the U.S. ov rnment CAN act
quickly t alleviat the crunch.
And because of the region' clo e
economi and other tie to the
United State, ea ing the Caribbean
debt tr n lehold directly benefits
Am ricans - 0 the U.S. SHOULD
reduce the debt burden, for rea ons
of elf-inter st.
Total dent ervicing for the
Caribb an is approximately $1 nil­
lion annually. while debt payments
to the U.S. alone come to more than
1 million. The Enterprise for
the America Initiative now before
Congre would reduce the bilateral
debt owed by tho e Caribbean and
Latin American countries diligently
trying to restructure their
economies. It acknowledges that
the debt of orne Caribbean nations
can only be paid at the detriment of
both the debtor and creditor
country. .
The economic plight of the
region ha reflected and will reflect
it elf in declining market for U.S.
export. fewer inve tment oppor­
tunitie .Jncrca ing su ccptibility to
involvement in drug trafficking,
burgeoning migration, the necessity
for increased development assis­
tance and political instability. Ob­
viously, none ofthi is in America's
interest.
Conversely, taking Jamaica as
an example, the restoration of our
import capaci ty through debt relief
,.
�- ..
, ...
for J m Ic ns like tbi app rei
dem nd for U . good .
drug cartels, it is quite conceivable
that this'international scourge could
subordinate the economies of the e
small developing countries and de -
tabilize their government. The vul­
nerability and fragility of
democracy in the Caribbean i evi­
dent in Haiti, in last year' Ht­
tempted coup in Trinidad and
Tobago, following the disastrou
events in Grenada.
While bilateral debt owed to the
U.S. constitutes only 3% of the
region'S debt, it represents a sub­
stantial hare in the debt of orne
countries, especially the smaller
economies of the Dominican
Republic, Jamaica (where it's about
40%), Haiti, Bolivia, Hondura and
Co ta Rica. Most became heavily
indebted during the last decade.
The total debt of some countrie
is enormous in relation to their total
output and productive capacity. In
Guyana the debt/GNP ratio is 522�
which means that the debt outstand­
ing is 5.25 time larger than the
economy's total output of goods'
10 of
over 35 years at 3 p rcent.
The U.S. c nnot be n 0 is of
well-b ing in a ea of poverty.
The debt cri i of Caribbean
countrie ha adve e implications
for the economy and society of both
th United State and th Carib­
bean. Given th relatively mall
ize of the debt and given that debt
reduction for recon truction and
development i not unprecedented,
the U.S. could afford bilateral debt
relief propo ed by the Enterpris
for the Americas Initiativ .
nei ther new nor
At th end of
World War I th Allie owed the
U.S. mor than 12 billion. The e
dent were re h duled, repayment
p riod were extended, principal
urns were reduced or cancel d and
the intere t rate wa reduced. Only
2.6 billion was repaid between
1918 and 1931, Ie than a quarter
of the original urn. And after
World War II, the U.S. reduced
Germany' debt by two-thrids and
rescheduled the remaining debt
Debt relief would create more jo
ndu try worker, and, in tum, lucre
private ector grow, it will certainly
increa e its need for raw material
from America - our largest trading
partner - and will develop the
capacity to increase significantly its
contribution to trade between our
nations.
The trade of our Caribbean
neighbors is similarly concentrate
with the' U.S. economy.
Overall, debt relief to the Carib­
bean would translate into $50-60
million annually increased demand
for U.S. exports, creating thousand
of job and aiding the U.S. trade
balance. Debt relief create or
maintains jobs in the Caribbean and
the United States.
IN ADDITION, the resuscita­
tion of economic growth in the
Caribbean is imperative if these
countries are to extricate themsel­
ves from the poverty which engulfs
most of our citizens and threatens
the social stability and peace in
which democracy can flourish.
If the stranglehold of debt on
PERCENT OF PERSONS AGED 25 AND OVER WHO HAVE
CJMPlETED COLlEGE. BY RACE AND HISPANIC
ORIGIN: 1985. 1987. AND 1989
1985
rrmmrm 1987
lill1ill1ill
01989
9.9
Thirty percent of Jamalc's earning from the ale of goods abroad goes
to paying its debts In tead of toward purcbaslng good from tbe U.S.
College completion rate improves
for Blacks, Census Bureau says
The percentage of the nation's
adult Black population who com­
pleted four or mote years of college
increased from 1987 to 1989, ac­
cording to a report released today
by the Commerce Department's
Census Bureau. .
The proportion of Blacks aged
25 and over who had a college de­
gree rose from 10.7 percent in 1978
to 11.8 percent in 1989.
The proportion who were high
school graduates in 1989 was 64.6
percent, not statistically different
from the proportion in 1987 (see
charts) but higher than the 1985
rate.
In 1989, whites had the highest
level of high school completion,
78.4 percent. At the college level,
21.8 percent completed four or
more years.
statistically different from the 1987
rate but was higher than the 1985
rate.
As in all surveys, the data in this
report are SUbject to' sampling
variability and response errors.
Copies of the report, Education­
al Attainment in the United States:
March 1989 and 1988, Series P-20,
No. 451, may be purchased from the
Superintendent of Documents, U.S.
Government Printing Office,
Washington, D.C. 20402 (202- 783-
3238).
AMONG . PERSONS OF
Hispanic origin (who may be of any
race) about one in ten had com­
pleted four or more years of college
in 1989, and about one-half had
completed high school. The high
school completion rate was not
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