Entries Tagged 'Mauritius' ↓

I am very pleased to read on Le Mauricien of today the 14 July 2007 a report on Aquaculture which is of great interest to me. Let us hope that Ferme de Mahebourg will flourish into a money making company whilst generating economic growth to the nation.

Soon as I heard of this project some 5 years ago, I immediately joined in. I have invested some of my savings therein. Up till now, unlike some of the other small investors who believed in the project without showing a continued interest, I keep updating myself on the development of the company and this industry in the world. Internet has provided me with a tool which opened up a new world to me on this fast transforming industry.

Hats off to Michel Jory,James Ngan, Chris Lee who are the visionary promoters and leaders of this laudable venture. Indeed they took up the challenge of proving that a serious, world class aquaculture is feasible technically in Mauritius and now they still have to make the venture an economic success.
I would be very glad to exchange with anyone who shares the same interest in Aquaculture. I shall be delighted to Drum up the success of Red Drum in Mauritius.
I have to reproduce the text as Le Mauricien does not keep the article as an html file which could be access later.

Des poissons dans des cages

A Pointe-aux-Feuilles, Mahébourg, où se trouve cette ferme marine, il se passe des choses que les Mauriciens ne connaissent pas. On élève des poissons d’après un procédé technologique moderne : des géniteurs pondent des oeufs qui sont recueillis et transférés dans l’écloserie où ils deviennent des petits poissons qui vont être élevés durant deux mois environ avant d’être mis en cage dans le lagon. Ils continuent à être nourris et surveillés de près, comme des petits bébés, jusqu’à ce qu’ils atteignent la taille voulue de vente. Pour l’instant, ils sont vendus en entier aux hôtels touristiques et exportés vers Dubai, l’Afrique du Sud et les Etats-Unis et bientôt vers l’Europe.

C’est un Français, Michel Jory, qui a travaillé dans les télécommunications à Maurice pendant une dizaine d’années qui a lancé cette idée de pratiquer l’aquaculture. Il avait trouvé drôle que l’île était entourée de mer mais personne n’exploitait cette vaste ressource. Il a fait un partenariat avec le PDG d’Allied Motors, James Ngan, et a lancé ce projet en 1999. Chris Lee Sin Cheong, comptable de profession, et directeur à FMM, a été amené dans le projet pour mener une étude de faisabilité et pour chercher des actionnaires potentiels. ” Il nous a fallu convaincre le gouvernement d’alors de ce que nous voulions faire. Après maintes démarches, nous avons obtenu une concession de 15 hectares en mer et de cinq arpents sur terre où monter notre écloserie “, indique ce dernier. Le projet a été conçu avec des investissements initiaux de Rs 75M qui ont atteints aujourd’hui les Rs 300M, avec la construction de l’usine de traitement qui est en cours.

La ferme a démarré ses activités avec l’élevage du Red Drum (Ombrine), dont les géniteurs ont été importés des Etats-Unis. Vu sa réussite en termes de grossissement rapide, la FMM a essayé la reproduction d’un espèce local, le Gueule Pavé, que des pêcheurs de la localité ont mis à sa disposition. ” Aujourd’hui, nous maîtrisons également l’élevage de ce poisson “, souligne M. Lee Sin Cheong. Du point de vue technologigue et recherche, la ferme est un succès, ajoute-t-il, mais sur le plan commercial, ” c’est maintenant qu’on va le savoir. ” ” Notre usine de traitement, aux normes européennes, qui sera opérationnel bientôt va nous permettre d’exporter du poisson vers l’Europe en barquettes et sous d’autres formes “, ajoute-t-il.

Pour notre interlocuteur, outre l’emploi et les devises que l’aquaculture peut apporter au pays, ” il faut penser à l’avenir. “ Selon lui, il n’y en a plus dans la canne à sucre. ” Ce sera fini dans 20 ans “, estime-t-il. ” Que faire, après ? Il faut trouver d’autres créneaux économiques. L’aquaculture, avec le projet de loi qui vient, sera un nouveau pilier économique pour notre pays “, affirme-t-il. Il cite le cas de la Thaïlande, où selon lui, cette activité a été pratiquée d’une façon désordonnée et a finalement dégradé l’environnement. ” Vingt ans après, on ne peut plus utiliser cette mer “, ajoute-t-il. Quant à Maurice, pays touristique, il déclare que si l’environnement est affecté, ” nous serons tous perdants et c’est la dernière des choses que nous voulons faire. ” M. Lee Sin Cheong est d’avis que le gouvernement est en train de préparer le terrain pour faire venir des investisseurs dans ce domaine. La dizaine qui s’y intéresse devrait aider, ajoute-t-il, à développer cette activité pour en faire une industrie.

Esprit d’entreprise

Cette activité économique n’est pas réservée uniquement aux investisseurs qui visent les grands hôtels et l’exportation vers des marchés rémunérateurs. Selon le directeur de la FMM, il y a de réels possibilités pour des petites et moyennes entreprises également. ” Savez-vous qu’on a fait une dégustation d’ombrine en vindaye lors d’une exposition au centre Swami Vivekananda ? Environ 12 000 personnes ont goûté ce poisson et elles croyaient que nous produisions du vindaye. Ceux qui ont l’esprit d’entreprise peuvent faire beaucoup d’argent avec cette idée. Moi, je ne peux le faire car ce n’est pas ma priorité “, dit-il, en ajoutant que le potentiel est là : 1,9 million de km carrés de mer pour faire beaucoup de choses dans des conditions appropriées.

Une industrie qui va polluer l’environnement ? Non, répond-t-il. C’est quand il n’y a pas de cadre légal que ceux intéressés lancent leurs projets où ils veulent et font n’importe quoi. ” Ce sont de très petites zones où la profondeur est de trente mètres qui ne dérangent pas l’environnement “, déclare, pour sa part, le responsable de la ferme, Fabrice Zarour, biologiste marin de formation. ” C’est vrai que les poissons sont nourris avec des granulées mais il faut savoir que pour être rentable, nous ne pouvons gaspiller une seule granulée. Nous faisons de sorte qu’aucune granulée, qui coute très chère d’ailleurs, ne sorte des cages. Toutes sont mangées par les tonnes de poisson qui se trouvent dans une seule cage. Nous sommes obligés de les nourrir correctement. Au cas contraire, c’est la faillite “, affirme-t-il. M. Lee Sin Cheong indique que des éléments de la Mauritius Marine Conservation Society (MMCS) viennent souvent plonger en mer à Mahebourg pour étudier l’environnement où opère la FMM. ” Nous les invitons à le faire pour qu’ils puissent nous dire ce qu’ils voient au fond de la mer “, dit-il.

Autre préoccupation : les requins. Il y a eu toujours des requins dans le lagon ici, affirment-ils. ” Ce n’est pas à cause de nos cages qu’ils sont venus ici “, déclare M. Lee Sin Cheng. A M. Zarour d’ajouter : ” Nous avons déjà pêché quelques petits requins de 7 à 10 kg qui sont nés dans le lagon. Plus ils grandissent, plus ils quittent le lagon pour s’éloigner vers le large. Donc, ce ne sont pas des requins qui sont entrés dans le lagon à cause des cages. Ils vivent dans ce lagon. Il y aura toujours des requins dans le lagon, même sans cette ferme marine. “

S’agissant du projet de loi, Fabrice Zarour estime qu’il a été mal expliqué à la population car, dit-il, il n’y a pas beaucoup d’endroits en mer à Maurice où l’on peut pratiquer l’aquaculture. La dizaine de sites identifiés ce n’est rien, selon lui, ” ce sont des têtes d’épingles vues d’en haut qui ne vont pas gêner la circulation et la pêche artisanale. ” ” Nous ne pouvons pas priver les Mauriceins de leur espace et de leur liberté “, lance-t-il

“Maurice connaîtra un boom économique d’ici 2010’’ je lis là : un message d’espoir d’ Eric Ng, économiste et directeur de Pluri Conseil dans un interview qu’il a livré au Mauritius Times du 06 Juillet et ce dans le cadre du budget 07-08 de notre Ministre de Finance Rama Sithanen.

La lecture du document m’a donné une envolée rapide de la situation économique du pays, ses enjeux et ses alternatives et options choisies par le présent gouvernement. Je reste quelque peu sceptique à quelques uns des avancés du gouvernement, cependant je pense qu’il vaut mieux croire dans l’avenir du pays.

La création d’emploi au cours des années futures a été pensée et des mesures sont prises pour résorber le problème d’emploi. Ce qui m’inquiète : c’est la dégradation des valeurs societales. J’entends bien que le budget n’est peut être pas le forum ou le lieu où on pose le problème des valeurs de societe. A-t-on inclus dans les finances le budget pour la promotion des valeurs qui feront avancer notre sociéte ?

Ah, if only the people around us were more professional

I would wish that the Mauritian work force becomes more professional. I was horrified last Thursday at Domaine Les Pailles where I organized a conference. I experienced a total lack of professionalism. Against my calm nature; I refused to pay the bill presented to me and requested compensation for the harm suffered. I was a shameful Mauritian in the face of foreign and eminent speakers invited to talk to a bunch of selected CEOs of our country.

Our lives would be easier, our businesses would grow more effortlessly, we’d find our jobs more fulfilling…the list of dramatic benefits can go on and on. But what does it mean to be more professional? More importantly, what can we do to make sure that we, and our associates, are becoming ever more professional?

According to Webster’s New World Dictionary, a professional is a person who is “worthy of the high standards of a profession.” And a profession is, “a vocation or occupation requiring advanced training… and usually involving mental rather than manual work.”

There are some key words here. Let’s focus on these: High standards. The word “standards” implies that there are discernable ways that people consistently behave that set us apart as members of our profession. And the word “high” implies that we do these things better than the average.

To consistently behave in ways that are better than the average, i.e. to achieve high standards, is not easy. In our rapidly changing, ever more complex economy, achieving high standards is not an event which we mark, rather it is a continuous process which calls on us to persistently and positively change and grow.

That’s a major challenge. And that challenge calls for us to develop one of the foundational characteristics of true professionals: We must be serious about our occupations.

In other words, we must understand that our occupations are challenging, with high expectations of discernable standards, and we must consistently want to do better – we must be dedicated to succeeding.

There are those of your associates who make light of this foundational requirement. “The job is only a job,” they may say. “A means to an end. Just do the basics in order to keep your boss off your back. Real life is lived outside the confines of your occupation.“

I can certainly understand these sentiments. And if you share them, that’s fine. You’re just not a professional.

Understand that I’m not suggesting that you work excessive hours to the detriment of your family. It’s not about the quantity, it’s about the quality.

A professional understands that we work 40+ hours a week, and that we spend more time on the job than in almost any other endeavor. Our occupations, just in terms of hours, truly fill one of the biggest pieces of our lives. To be serious about our occupations doesn’t require us to invest more time. Rather, it does require us to use that time more effectively. If we’re going to live life fully, we need to be serious about that big chunk of time.

To allow it to pass us by untouched is to waste much of our lives. To coast through, oblivious to the daily challenges to become more of what we can become, is to squander rich opportunities for personal growth. To be anything less than serious about our occupations is, frankly, a shame.

If we are serious about our occupations, we’ll see ourselves acting that out in a number of ways. In other words, our underlying attitude of seriousness will show itself in the way that we behave. Consistently, over time, we’ll act in ways that show the people around us our commitment. Here are two indications of the degree to which we are serious about our occupations:

1. We’ll want to do better in everything we do.

Better than we did before. We’ll exhibit a never-ending quest to improve our performance in every variable, every project, every transaction, every relationship, and every detail. I call this the characteristic of “personal discontent.” Our personal status quo is never acceptable.

That’s not to say that we can’t celebrate and enjoy our success. We certainly should. But after we’ve congratulated ourselves for our excellent performance, we then need to take a deep breath, and recommit to doing it better next time.

In other words, a leader who is discontent. Regardless of the degree of current success, discontent in the executive office is the surest indicator of a company on the move. Passing the buck to the lap of some one else seems to be the system in Mauritius. This is in opposition with personal discontent. I am Ok he is not Ok.

It’s true for every individual and every organization at every stage of an organization. A professional executive is discontent with his organization’s performance. A professional manager is discontent with his team’s results. A professional of any kind is continually discontent with his/her performance.

At every level, in every occupation, the professionals are always striving to do it better the next time.

2. We’ll seek opportunities and relationships that will challenge us to grow.

James Allen said, “Men are often interested in improving their circumstances, but are unwilling to improve themselves. They, therefore, remain bound.“

That is decidedly not true of a professional. What is an observation of the mass of people does not apply to professionals. As a professional, we distinguish ourselves by our dedication to personal growth. It’s the natural and logical progression from the state of continuous discontent.

It’s one thing to be discontent; it’s another to do something about it. And, while it is possible to be discontent about our circumstances, a professional realizes that it is his skills, attitudes, and behaviors that shape his circumstances. So, the solution to changing your circumstances is, ultimately, to change yourself.

A professional understands this, and seeks continually for opportunities and relationships that will stimulate him to grow.

Again, this shows itself in a number of ways. Professionals take guidance and direction from their managers. Professionals work to implement the ideas and skills they gain from training programs and seminars.

Professionals are always reading something which prompts them to grow and develop. Professionals aren’t afraid to try something different, to stretch out of their comfort zones, understanding that the stretch, while it might be uncomfortable, will cause them to build additional capabilities. Professionals seek cohorts that stimulate them to think by joining small groups and internet communities.

Partly extracted & inspired from an article written by Dave Kalhe

The story of an industry bringing in substantial revenue to Mauritius and gave an international recognition to the craft of Mauritian artisan only started less than forty years ago.Ships of Mauritius! I use to boast that may be Mauritius owns the world’s largest shipping yard of naval sailing ships. I saw the birth of this industry and followed its development and growth. The teething issues of the transport were the transport of the bulky Ship model to comply with the baggage allowance of the passenger. Air France accepted to make special concession for the transport by air at special Cargo rates.

The model boat business started in 1969 when Raphael Touze, the first French ambassador to the newly independent country, admired a model made by a friend of his chauffeur’s and ordered one for himself. The hobbyist, Jose Ramar, was so proficient at turning out these small masterpieces that Mr. Touze had the plans of the great ships of history sent to him from the Musee de la Marine in Paris, France’s leading maritime museum. Mr. Ramar recruited a few friends, and his hobby became a business.

Was it not for the idea and drive of Raphael Touze we would still be looking for some creative handicraft ideas? What have we learnt from this page of history which could be replicated?

“Flowers of the world”  by Maujean,was another idea which caught on quite well so somtime until the novelty of the idea worn off.

Reading the Hakka website, and following the definition of a Hakka by Luo XiangLin: I would qualify to be a Hakka as I satisfy all 3 criteria. Beyond the criteria I was born in a Hakka homeland.

Quote

The Hakka people are quite an interesting group among ethnic Chinese. As a branch of the Han Chinese, the Hakka is believed to be different from the neighbouring people. Most people follow the conclusions of Luo Xianglin, who claimed that the Hakka is the “noble pure blood Han from the Central Plain”, and have been migrating to the South since the third Century in five waves. Because they are late comers, they are named Hakka. Because they retain the most precious culture of the Chinese, they have a sense of superiority and refused to be assimilated. Instead they identify themselves as Hakka and keep their own language and culture even after centuries of migration.

Luo Xianglin had listed three criteria for Hakka:

(1) one’s ancestors lived in the Hakka homeland),
(2) identifies himself to be Hakka,
(3) able to speak the Hakka dialect.

 

Unquote

 

 It is worthy to note that the great majority of Chinese in Mauritius are Hakka. My family whose last dwelling in China was in Mei Xian according to our records had migrated to MeiXian some 600 years ago. We would have formed part of the third wave of migration from central plain China to the South.

I recommend you to read about the Hakka people who have their own customs & characteristics forged by their own history. The story of the Hakka woman is another interesting and telling event in the whole history of China which depicts the determination for survival of the people.

Another Quote from the preface of the book: The origin of Hakka People

I have been asked many times, “Why are you interested in Hakka? It is a dying language, and a disappearing culture.” My answer may be quite surprising to many, including Hakka. My interest started from the curiosity to find out about my own roots. It grew into the exploration of how cultures are preserved and how they interact with others.

The study of Hakka is a study of conservation and survival of an ancient heritage under constant impact of others, which is something all cultures are facing in today’s world. Some paraphrase Hakkas as Jews of Chinese. I think a more appropriate paraphrase may be dandelion. A little flower, tough enough to survive the harshest environment, travels to all corners of the world, plants its roots in the poorest soils and blooms with yellow flowers. It has a lot of useful culinary and medicinal applications yet few people know about them. There are many varieties, tall and short, large and small. They adapt to the surrounding, but still remain well recognizable as dandelion.

 I am proud to be a Hakka.

There are a number of social clubs and professional associations. The common factor amongst these different assemblies is to create a ground for people of common interest to exchange and work towards a common goal.

I have belonged to a number of associations & clubs through out my life. In my youth I was a member of a student association which catered for the youth. The organisation driven by the youth themselves created opportunities for the development of students by organising sports& cultural activities. More importantly it was a training platform for the more daring members to hone their leadership & communications skills. The diversity of the people and sometimes different & opposing views of the members often create dissensions within the association. Working and succeeding in a project together with the members build up friendship and give great satisfaction and happiness. More importantly these experiences build memories that we cherish for ever.

Over forty years after, I still vividly remember the wonderful experience I had with my team members in competing in the National Youth Drama Festival organised by the then Ministry of Youth & Sports. Winning the award of Best Actor, the best supporting actor, best production for “The Dark Horses” crowned the joint effort of our team.

Last night, with an immense pleasure, I attended the 80^th birthday of my aunt who had been since 1961 the Drama Coach of the Chinese Student Association. We reunited the actors and stage managers and hands for generations of Drama lovers. Most of us today are retirees after  successful and meaningful life. Looking back, we can appreciate the training our participation to a youth club helped us to lead our working life. The story of John Yinkoo ( told last night) who joined Mauritius Telecoms a clerk to finish up his career as the CEO of the company was a very touching story.

I am grateful to the elders who started the club and for many years support it. LeeAh Luck ( present last night) who is today in his 80’s was one of them. I was so glad to see him last night.

Are Youth club out of fashion today? What is the new form of association which can provide the same services? Luckily, there are still plenty of clubs alive.

La réflexion de St. Ambroise (340-397) sur le texte de St Luc est généralement ce qui nous est enseignée. A savoir que « Ce ne sont pas les gens bien portants qui ont besoin de médecin, mais les malades. » (Mt 9,12) Montre donc au médecin ta blessure, de façon à pouvoir être guéri. Même si tu ne la montres pas, il la connaît, mais il exige de toi que tu lui fasses entendre ta voix. Nettoie tes plaies avec tes larmes. C’est ainsi que cette femme dont parle l’Évangile s’est débarrassée de son péché et de la mauvaise odeur de son égarement ; c’est ainsi qu’elle s’est purifiée de sa faute, en lavant les pieds de Jésus avec ses larmes.

A l’écoute du texte hier à la messe, j’ai eu une nouvelle dimension à creuser. La juxtaposition des mots : pardon et amour m’a envahi l’esprit.
Je te le dis : si ses péchés, ses nombreux péchés, sont pardonnés, c’est à cause de son grand amour. Mais celui à qui on pardonne peu montre peu d’amour.

 Un amour infini de Jesus pardonne infiniment. Est-ce là le message du Christ?

 

J’ai en mémoire une personne pour qui je prie Dieu d’aider et qui, depuis de nombreuses années, ne veut toujours pas pardonner des offenses qu’il aurait subies.  Il semble encore vivre cette haine des personnes avec qui il a eu des démêlés dans le temps. Même le temps n’a pas su guérir ses plaies de souffrances. Or on dit souvent que le temps guérit !

De même, dans la vie des couples, de temps en temps les égos des uns et des autres bondissent dans des proportions au delà du seuil de tolérance acceptable. Dans ce cas là, s’il reste un germe d’amour, le pardon donné et reçu fait rejaillir la vie du couple.

En ce Dimanche de Juin où fleurit le poinsettia, j’implore le Seigneur de semer des graines d’amour dans nos cÅ“urs. Mois de Juin, mois, dédie au Sacre Coeur de Jésus, Coeur d’amour infini….

In an article published last Thursday on L’Express, we were informed of the inauguration of an aquaculture farm in Bambous: Val Farms Ltd. It is a laudable project and hopefully the drive and competency of this young entrepreneur will be crowned with success. All previous attempts to breed fresh water fish & prawns have not lasted for many reasons.  Flopped Berri Rouge  farming was the last attempt which was sponsored by the government fisheries department. The Mauritian public turned their back to the Berri rouge fish and would not accept to consume the fish. Barramundi the Australian fish would appear to appeal more to the local taste; the proof of the budding will be in the eating. Good luck and a courageous salute to Mr. Mike Koon.

To produce 60000tons of fish per year with an investment of 4 millions rupees seems too good to be true. I suspect that the reporter must have mixed up to figures. It was stated in the article that Mauritius imported 58 million rupees worth of fish. Will the farms be producing fish worth 5400 000 000 rupees based on the indicative price of Rs 45/ per half kilo?

Extract from L’Express

 

La première récolte de berris rouges se fera dans deux mois. “Après une étude de marché, nous avons trouvé que le berri rouge avait un grand potentiel d’exploitation pour nous”, révèle Mike Koon. L’australien barramundi a, quant à lui, été plus compliqué à gérer de par son adaptation difficile. “À chaque fois, il faut importer le barramundi et le taux de mortalité est très élevé. Nous en avons importé 84 000 et pensons en récolter 5 000 en août. Mais nous espérons avoir des géniteurs pour pouvoir reproduire les barramundis ici”,affirme Mike Koon. Selon lui, le barramundi a aussi un grand potentiel car sa chair serait comparable à celle de la “Vielle Rouge”.

La ferme de Bambous a nécessité un investissement tournant autour des Rs 4 millions. Elle emploie aujourd’hui dix personnes. Le projet est une idée de l’oncle de Mike Koon, mais ce dernier s’était déjà spécialisé dans l’aquaculture. “J’ai étudié pendant quatre ans en Australie et j’ai aussi travaillé dans des organisations gouvernementales dans le domaine là-bas”, explique-t-il. Il a aussi assuré la formation de tout son personnel.

60 000 tonnes par an

Pour sa première récolte, Val Farms Ltd devrait avoir un rendement variant entre 3 000 et 5 000 tonnes de poissons. Sur le long terme, l’entreprise a une capacité de récolte de 60 000 tonnes par an. Elle compte aussi inclure les camarons dans son élevage. “Pour l’instant, nous avons quelques camarons à l’état expérimental. Nous voulons les avoir en biculture plus tard”, conclut Mike Koon.

Maurice importe actuellement du poisson à hauteur de Rs 58 millions par an. Val Farms Ltd espère trouver preneur pour ses poissons rapidement. Pour l’instant, il est prévu que le berri rouge soit mis en vente à Rs 45 le demi-kilo et le barramundi à Rs 80 le demi-kilo.

Muhammad Yunus was made a Nobel Prize winner in 2006 and had been honoured by the world Press for his deeds. What can we learn from his action and drive in the Grameen Bank in Bangladesh which we could copy here in Mauritius? Micro Credit may well be a remedy to the “casseur” plague that some of the under privileged of Mauritius are suffering from. According to INSEAD: Social enterprise, Using micro credit to help to lift the poor out of poverty is still posting dramatic growth. In China, this idea had been used for centuries. Even in the early days of the arrival of Chinese traders in Mauritius, they had the same cooperative union system amongst themselves.

Kashf is an example of lesson learned from Yunus. It’s a non-profit organization which has been posting dramatic growth while focusing on providing micro credit and social support services to women entrepreneurs at the bottom of the so-called wealth pyramid.

Since its launch in 1996, Kashf has grown to become the third-largest microfinance institution in Pakistan with some 69 branches, more than 135,000 customers and about 90 million US dollars in outstanding loans.

Today, I spoke to Dharamjeet Bucktowar who has been involved with credit union for years in Mauritius. He told me that micro financing is progressing. The cooperative movement gives support to any group wanting to operate a micro finance project. However, he would have expected a much greater expansion of the cooperative movement. I am pleased to learn that Caritas is still involved in promoting this type of Social Enterprise. The funds available in the Paroisse de Ste Therese which I saw the inception now runs in million of Rupees. This is thanks to the motivation of the leaders and the able management of a few willing contributors.

Why not teach credit union at school and start a model credit union at the University of Mauritius? I would suggest to Dharamjeet to start Credit Union in all tertiary institutions of the country as a practicing ground.These students would certainly learn first hand to enhance their leadership,organizational,managerial,and communications skills.

According to the Helsinki-based World Institute for Development Economics Research (WIDER) of the United Nations University, if you own more than US$ 61000 (Rs. 183000) worth of assets, then you are in amongst the richest 10 percent of adults in the world.This study is on personal wealth & house hold wealth.

2 percent of the world richest inhabitants own half of the world’s wealth. Where is the social justice? Where is the equitable distribution of wealth?

Surprisingly, household debt is relatively unimportant in poor countries. As the authors of the study point out: ‘While many poor people in poor countries are in debt, their debts are relatively small in total. This is mainly due to the absence of financial institutions that allow households to incur large mortgage and consumer debts, as is increasingly the situation in rich countries’

Wider goes on to note that ‘many people in high-income countries have negative net worth and—somewhat paradoxically—are among the poorest people in the world in terms of household wealth.’

In his editor’s note Jean Claude de l’Estrac last Sunday mentioned the WIDER study to highlight how difficult the task of ‘democratisation de l’economie’ is hard to achieve. The question would seem to be: let us create wealth before proceeding to a more equitable distribution. “Wealth breeds wealth: poverty breeds poverty” goes the popular wisdom.

Is it possible to work on both score concurrently? The ideal would be to generate wealth whilst planting the seed to a better social justice? Some would argue that you cannot have your cake and eat it! Could we work towards growing the cake so that the slice of each one will be larger?