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This article explores the role of transnationalism in empowering economies through remittances, micro finance, and technological networks. It discusses the challenges and opportunities faced by developed and developing countries in this globalized world.
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El Desafio de la Pirámide Global • El Transnacionalismo Como Solucion • From Global Pyramids to Global Diamonds: Networks, Technologies, Micro Finance and Securitization • The No Borders/Sin Fronteras Transnational Corp. 5. Empowering Transnational Economies: Salvadorans Mexicans, Pakistanis and Filipinos in Los Angeles, California
Global Migrant Population Distribution, Stock, by Major Region1965-1994, 2002 Projection
Developing Nations Global Remittances 2000-2008 (Billions) Source: Banco de Mexico
Money Transfer Cards’ Share of U.S. Global RemittancesAite Group, 2005
…Remittances are only the tip of the Transnational Iceberg 10% Cash Remittance 90% Other Cash Transactions Telecommunication, Insurance, Housing, Health-care, Transportation/Travel, Education/Training • Huge remittance flows feeds the Global BOP • 9 Trillion in Income, x 1000s Transactions • 10 Trillion in “Dead Capital Assets”
Central American Transnationalism 2005 Source: World Bank; Basic Socio Economic Data, Online Statistical Yearbook 2002 Remittances; International Development Bank Migration: INS Office of Policy and Planning (a Central American-U.S. migrant GDP/per capita = $27,400 Dollar values in thousands
U.S. Central American Migrants: US Data Source: U.S. Census Bureau, Census 2000 Supplementary Survey Summary Tables INS Office of Policy and Planning
EU Structural Funds Counterfactual Application to US-CAFTA Zone • El Salvador 6.426 bn dollars • Guatemala 11.628 • Nicaragua 4.998 • Honduras 6.528 • Costa Rica 3.876 • Total 33.456 billions a year
(1) Electronic Transfers Worldwide Agents, Credit Unions, Banks & ATM/POS U.S Agents, Credit Unions, Banks & ATM/POS United States Worldwide Telephony Telephony Dollar Stored Value Card Peso Stored Value Card Direct Deposit Payroll Direct Deposit Payroll Pre-paid MasterCard Pre-paid MasterCard Other Products & Services Other Products & Services Imagine A Integrated World of Products & Services for the BOP
(2) Data Mining Processing System Affiliate Banks & Credit Unions U.S. Load Locations Central Processing IP-based System Affiliate Banks & Credit Unions NB Secured Internet Pay-Out Locations Worldwide
(3) Financial Products and Services • Stored Value Cards / Remittances • Significantly lower pricing • FREE with Credit Union Account • No exchange rate surcharge • Convenient Card Process (for both Agents and end customers) • Affinity Card Programs, HTA, Sports Clubs, NGOs • Mobile Telephony • VOIP Competitive low rates • IVR / Phone to Phone Transfers • Expanded SVC/Cell Based Services include: • Savings and Micro-Credit • Financial services, Insurance • Education/training • On Line Travel, Purchases, etc.,
Telecommunications in Santa Ana del Valle, Oaxaca Rural transnational villages connect to the world via broadband satellite, using a wide variety of applications, such as video-teleconferencing, VoiceOverIP telephony, online education and sending/saving remittances on a debit card. Education for all ages is a fundamental component of the telecommunications program. A proud grandfather looks on while his grandson explores the World Wide Web. A video teleconference connects transnational migrants in Venice, CA, to family members in their hometown of Santa Ana del Valle, Oaxaca.
Micro Banking in Santa Cruz Mixtepec, Oaxaca Locally owned and operated microbanks create a financial mechanism for community members to save and invest money. They can also receive remittances from transnational migrants in the U.S. through a partnership with the Association of Mexican Credit Unions (AMUCCS). Women and men at the community assembly hear the microbank presentation in Spanish as well as Mixteco, their native language. Community members participate in an educational seminar on the workings and benefits of the microbank.
Productive Projects in Ayoquezco de Aldama, Oaxaca MENA (Mujeres Envasadoras de Nopales), a women’s cooperative that grows and packages nopal - a cactus native to Oaxaca that is considered a delicacy. The bottling process: women from the cooperative sterilize jars to package the organic nopal. Bottled nopales, ready to be shipped for consumption throughout Mexico and the United States.
