Former Montrealer Perry C. Douglas digs deep into his reservoir of experience and acquired expertise in wealth management and investment banking as well as a consultant on energy, healthcare and government, to offer advice and chart a path forward for future development in the Caribbean.
In his recently published book: “ai – applied intelligence: New Thinking for Caribbean Prosperity in the 21st Century,” the McGill University graduate paints a bleak picture of the economy of the region and consequently, the outlook for the future:
“Caribbean leaders continue to display shameful and harmful behaviour contrary to the economic security of their people, and future generations will suffer for it. In simple terms, if you are not making any gains, you are losing. Leaders continue not to connect the regional economy meaningfully to global supply chains, and larger Caribbean economies like Jamaica continue with the same old short-sighted behaviour and playbook.”
And he points to climate change as an immediate danger lurking on the horizon, with the potential to wreak existential threat for the region.
“….(T)he science of climate change tells us that the survival of the Caribbean territory is not guaranteed. The scientific reality is that many of the islands will be uninhabitable and underwater in the future.”
But all is not lost, he says.
He told The CONTACT in a recent interview that he wrote the book a tool to assist and guide people “in the region that I came from because I see opportunity for greatness.”
The way forward he says must be guided by an economic strategy and technology.
“We can gain a competitive advantage by investing in agriculture underlined by a zero-emission based economy as well as finding international markets for our produce.”
Perry who built an outstanding career in investment banking and wealth management at RBC Dominion Securities and AIC, was involved in the billion dollar purchase of NCB Bank Jamaica, by Michael Lee Chin.
He spoke also of consolidating “into a single market and economic union with a focus on building a knowledge- based economy (…) backed by a common currency pegged to the U.S. dollar.”
But he advised that only if that strategy “is underpinned by technology and intelligent ecosystems, can we ever have a chance to compete globally.”
Perry, who in 2008 was voted in 2008, the #1 Advisor in Canada on the All Factor Rankings at UBS, will speak at McGill University on February 21 at an event organized by the Black Students Network.
His book, “ai – applied intelligence: New Thinking for Caribbean Prosperity in the 21st Century” is available on all online platforms.
Author with a plan for Black and Caribbean prosperity
