The booming Asian economy is racing across Pacific borderzones at breakneck speed. But as we saw with the stock market crash originating in Hong Kong just a few weeks ago, Asian investments have yet to develop strong portfolios which have stood the test of time. In this era of intensified globalization, Palau stands poised on the westernmost borderzone between Asia and the Pacific. If Asian development holds the promise of economic stability and a prosperous future, then by all means we must educate our citizens to participate in this movement to the fullest. If the Diaspora from the west brings with it the threat of cultural annihilation and economic ruin, then our people must be prepared to meet the dangers head on and avert catastrophe in these islands.
Obviously education is the key.
The contemporary convergence of Asian influences with local Pacific island forces has been all but ignored by researchers and scholars. Palauan students need courses which will prepare them for the realities which they will face when they return home. The reality for Palau is that tourism will for years to come be a big part of our bread and butter, and the Asian market shows the greatest potential in this area. Palau currently has just over 700 hotel and motel rooms. Visitor arrivals have been steadily increasing from 5,640 in 1980 to 69,330 in 1996.