Taiwan and St. Lucia relationship: St. Lucia has recently become a destination for Chinese entrepreneurs looking to escape the tightening grip of the Chinese government.
According to ‘Contact Data PR Saint Lucia,’ an increasing number of Chinese citizens are seeking second citizenship in Saint Lucia. Chinese investors, anxious about China’s uncertain economy, are obtaining Saint Lucian citizenship for as little as US$100,000 by investing in the country.
The Chinese crackdown
Well, the rising number of Chinese investments in St. Lucia is not new. But, the sudden upsurge over the last few years is attributed to China’s plunging economy and increasing crackdown on businesses. The growth of ‘dragon’ is stagnating. By the end of 2022, China’s economic growth 2022 tumbled to its weakest in four decades after the twin crises of the pandemic and crackdown.
China’s Zero COVID policy had tragic and negative effects on businesses in China. In addition, the policy has also created challenges for multinational companies operating in China, as the country’s strict containment measures have made it difficult for foreign workers to enter the country and for businesses to operate across borders.
Whereas, the case of Xi’s crackdown on Chinese businesses is not hidden from anybody. Even the Communist Party of China (CCP) officials have acknowledged the fact that Xi’s policy blunders have had a tragic effect on China.
And, most of the businesses that have scarpered away from China are the ones who are staunch critics of Xi and so, St. Lucia has a godsend opportunity to expand its relationship with Taiwan via setting a new ‘Chinese economy’ in exile.
Strengthening Taiwan and the Caribbean
The relationship between Taiwan and St. Lucia is a prime example of how two nations, though vastly different in size and location, can work together. Their diplomatic relations, which date back to 1984, have strengthened over the years.
In recent years, St. Lucia has also expressed its support for Taiwan to be included in WHO. This advocacy is significant, given the challenges Taiwan faces in gaining international recognition due to political pressure from China.
The influx of Chinese businesses has the potential to transform St. Lucia’s economy and make it a hub for Chinese investment in the Caribbean. This trend has led some to compare St. Lucia to Taiwan. The main reason for this comparison is Taiwan’s history.
Also Read: Belize’s Unwavering Support for Taiwan is China’s Worst Nightmare
Taiwan’s History Repeats in St. Lucia
If you trace history, the Chinese government led by the Nationalist Party (Kuomintang), fled to Taiwan in 1949 after losing the Chinese Civil War to the CCP.
The Nationalist government, headed by Generalissimo Chiang Kai-shek, retreated to Taiwan. Taiwan became the base of the Nationalist government, which continued to claim that it was the legitimate government of China. Cut to the 21st century, history is repeating itself. Chinese nationals who once ran the Chinese economy under the pressure of Xi’s crackdown are now going to different nations.
However, there are also concerns that the growing presence of Chinese businesses in St. Lucia could lead to a dependence on China and potential political influence. The Chinese government has a track record of using economic leverage to advance its political agenda.
Despite these concerns, the growth of Chinese businesses in St. Lucia is a significant development for the island nation. It presents a unique opportunity for St. Lucia to become a hub for Chinese investment in the Caribbean and potentially transform its economy.
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