Costa Rica Referendum -CAFTA

By
Services for Real Estate Pros with The Oaks Tamarindo

This is off-topic, but I can't resist.

Today marks an important moment in the history of Costa Rica. For the first time, the people are deciding, in a direct referendum, the fate of the proposed Central American Free Trade Agreement among the United States, the Dominican Republic, and the other nations of Central America. By all reports, the people are almost evenly divided, and we probably will not know the result until tomorrow, or later. The streets of San Jose have been packed all day, by people in favor and opposed, but so far as I know with no acts of violence, actual or symbolic.

No matter the result, Costa Rica is the only nation that has signed CAFTA that has entrusted the decision to its people. Costa Rica's strong democracy, its lack of an army, and its sense of solidarity, are excellent reasons for living here, no matter how the vote on a particular issue results.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Tags:
costa rica condos
costa rica real estate
costa rica investment

Spam prevention
Show All Comments
Rainer
302,425
Terry Haugen STAGE it RIGHT! 321-956-2495
Stage it Right! - Melbourne, FL
Yes and Costa Rica sent delegates here to lobby against our participation.  The only thing this will do is send more jobs out of this country.  Speaking of which, we have sent so many jobs to India they are now outsourcing jobs to.....are ya ready for this one?  The United States!  Something is very wrong with this entire picture.
Oct 07, 2007 02:21 PM #1
Rainmaker
13,705
Robert Irvin
The Oaks Tamarindo - Igloolik, YN
Terry - I was careful not to state my position, yes or no. I am guessing your position is...no? There are good arguments on both sides of the issue, from the point of view of both the U.S. and its trading partners.
Oct 07, 2007 03:12 PM #2
Rainmaker
13,705
Robert Irvin
The Oaks Tamarindo - Igloolik, YN
As of 9:33 p.m., it appears that the people of Costa Rica have voted in favor of CAFTA, 51% to 48% (1% blank ballots or invalid). Interestingly, the vote was "no" in the pacific coast Provinces of Guanacaste and Puntarenas, which are the provinces that are least industrialized and most dependent on tourism.
Oct 07, 2007 03:36 PM #3
Rainer
302,425
Terry Haugen STAGE it RIGHT! 321-956-2495
Stage it Right! - Melbourne, FL
Well too bad for us Robert.  Maybe we can send some of those outsourced from India jobs down their way.
Oct 08, 2007 07:20 AM #4
Rainmaker
13,705
Robert Irvin
The Oaks Tamarindo - Igloolik, YN

Terry - From down here, it looks kind of complicated.

NO voters were afraid of U.S. taxpayer subisidized farmers driving their rice producers out of business. (Probably will do, but will lower rice prices for Costa Rica consumers.)

YES voters wanted to take advantage of higher U.S. import quotas for sugar exports. (Probably will happen, and may lower sugar prices in the U.S.)

NO voters are afraid of U.S. intellectual property laws that will benefit big drug companies by prohibiting unauthorized generic drugs, which are much cheaper. BENEFIT to U.S. Big Pharma, detriment to low Costa Rica medical costs.

YES voters are glad to be able to buy many U.S. imports, such as appliances and building materials, that up to now have paid heavy import duties.

Who is the winner in all this? We probably won't know for a while. Overall, prices probably will go down, although the effect will vary industry by industry.

The protected state monopolies in electricity, telecommunications, and rice and potato growers screamed the loudest, while high tech (Intel) and produce growers breathed a sigh of relief.

Smart people were on both sides of the argument. I think the effect on investment likely will be positive, tourism probably neutral. For real estate, it should lower the cost of materials some, but not a lot.

Oct 08, 2007 09:01 AM #5
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
13,705

Robert Irvin

Ask me a question
*
*
*
*

Additional Information