Oct 19, 2010 (LBO) – Sri Lanka must integrate itself with global production processes and markets instead of trying to produce everything itself, W A Wijewardena, a former central bank deputy governor, has said. “Previously we thought it was English. Now we call it globish – global English – the language used by Chinese, Japanse and others – by non-English speaking countries – to do transactions with the rest of the world. We must teach our students globish.” Emerging global production processes enable one part of a product to be made in one country, another part in another country, and the whole product to be assembled in a third country.
“We have to be part and parcel of the global production process rather than trying to produce everything ourselves,” Wijewardena told the annual sessions of the Sri Lanka Economic Association.
Current government policy is to strive for self-sufficiency especially in agricultural products like rice and milk and certain manufactured goods with local producers being protected by high import tariffs.
The policy means consumers end up paying more than world market prices although it ensures farms and industries remain viable and protects jobs.
Wijewardena said t