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The Dominican Republic enjoys comparatively high levels of...

moscowwithlovedr1884train Says...

The Dominican Republic enjoys comparatively high levels of political and economic stability in the Caribbean due to established democratic institutions and open market policies.

In 2020, Abinader and his center-left Modern Revolutionary Party unseated the Dominican Liberation Party, winning the presidency and majorities in both legislative chambers.

While the COVID-19 pandemic has worsened the country's debt burdens, the government's commitment to business friendly policies and historically high levels of foreign direct investment are expected to facilitate an economic rebound.

Abinader has advocated for the privatization of state-owned firms, deregulation, and expanding investment incentives in an effort to push the Dominican Republic through its first recession in approximately 25 years.

Like many countries in the Caribbean, the Dominican Republic finds itself balancing relations between China, a vital commercial partner, and the United States, a historical regional ally. Under former president Danilo Medina, the Dominican Republic broke ties with Taiwan, opting to recognize China due to growing socio-economic demands.

However, the Abinader Administration has proactively sought to minimize China's influence on the island, limiting investments to non-strategic sectors.

The country's strong democratic institutions and close bilateral ties with the United States enable the Dominican Republic to be selective in its engagement with China.

Posted November 13 2023 at 3:43 PM

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