{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='FIJI:  ECONOMY DAMAGED' data-url='/boclips/videos/5c54bb6ed8eafeecae12502a' data-video-url='/boclips/videos/5c54bb6ed8eafeecae12502a' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nFIJI:  ECONOMY DAMAGED\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eEnglish/NatThe island of Fiji, once some people's idea of a paradise on Earth, is now learning a  painful financial lesson. The country's economy - based on tourism, sugar production and clothesmanufacturing - has been frozen since armed...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eEnglish/Nat\u003cbr/\u003eThe island of Fiji, once some people's idea of a paradise on Earth, is now learning a  painful financial lesson. \u003cbr/\u003eThe country's economy - based on tourism, sugar production and clothes\u003cbr/\u003emanufacturing - has been frozen since armed rebels stormed Parliament House on May  19 and took Prime Minister Mahendra Chaudhry and most of his government hostage.\u003cbr/\u003eSome believe the damage could be long-term, and it may take many years for the  economy to fully recover.\u003cbr/\u003eTourism has been the first casualty with Japanese and Australian tourists staying away  from the troubled tropical resort island.\u003cbr/\u003eBut now the other industries are also feeling the effects.\u003cbr/\u003eNext to tourism, the two biggest industries are sugar, worth around U-S 120 million  dollars  a year from exports, and clothes manufacturing, worth about U-S 48 million  dollars  a year.\u003cbr/\u003eBefore the coup, Fiji had a growing and promising clothing industry but now it faces an  uncertain future.\u003cbr/\u003eHere at Mark One apparel, Indian and native Fijian women work side by side.\u003cbr/\u003eThey toil hard in one of Fiji's the fastest growing and successful business.\u003cbr/\u003eThere is no sign here of the ethnic tension that coup leaders have tried to whip up.\u003cbr/\u003eBefore the recent political events unfolded, clothing manufacturing rivalled sugar  production as Fiji's premier industry.\u003cbr/\u003eBut the times are changing now and the owners know their business is in trouble - hit  hard by the repercussions of the coup.\u003cbr/\u003eBans imposed by Australian trade unions on exports to Fiji are hitting them hard as  they can no longer buy raw materials. \u003cbr/\u003eWhen the cloth at this factory runs out - all the workers will have to be laid off.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"There are twenty-thousand workers in our industry and ten years ago there wasn't an  industry here at all of this size. We exported more than sugar last year. And we expect  all this will disappear very quickly. They are expecting 20-thousand workers out of a  work force of 117-thousand being put out of a job very quickly. And of course the others  would be soon to follow as well.\"\u003cbr/\u003eSUPER CAPTION: Mark Hallabe, owner, Mark One Apparel\u003cbr/\u003ePolitical uncertainty makes for low business confidence, and that has hit Fiji's very own  stock exchange hard.\u003cbr/\u003eAlthough sporting a modest trading floor compared to London or Wall Street, the  dealers here used to trade hundreds of thousands of dollars.\u003cbr/\u003eBut now trading is only worth a few thousand a day.\u003cbr/\u003eTrading volume is extremely low and investors don't know where to shift their money.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"The effect there is going to be is the confidence that will be shown by investors. It is all  about confidence. That is where the situation is going to be. But investors must be  confident to do that. Now right at this time I can understand why they are on hold but  what are they going to do with the money. Now what are you going to do. Now in a  normal market you sell out of stocks to go into real estate or something like that.  Everything will be on hold and will remain on hold till the situation is resolved.\"\u003cbr/\u003eSUPER CAPTION: Roy  Cooper, interim manager of Suvan Stock Exchange\u003cbr/\u003eElsewhere smaller elements of the economy are also making an impact.\u003cbr/\u003eIndian shop owners are closing up, fearing for the safety of their family amid the chaotic  events that have made many Indian owned premises the target of rioting mobs in recent  weeks.\u003cbr/\u003eThis business was torched by the sectarian thugs.\u003cbr/\u003eBut although coup leader George Speight expects an international backlash against his  coup, he said that sanctions and economic and diplomatic isolation are a price worth   paying for ethnic supremacy.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"Its them and they should not be concerned like we are not concerned immediately  about the international backlash, about the trade bans, about the European Union  threats to take away our preferential sugar price, and all of these things, because our  commitment and resolve to this principle is complete and we are prepared to pay  whatever price is necessary to cement our position in this country once and for all.\u003cbr/\u003eSUPER CAPTION: George Speight, Coup leader\u003cbr/\u003eAlthough the military government has restored a measure of calm to downtown Suva,  residents are still nervous.\u003cbr/\u003eCurfew is imposed 8pm to 5am everyday further hitting their businesses\u003cbr/\u003eIn Western Fiji in the sugar cane heartlands, sugar mills which would normally  be  working at capacity at this time of year stand almost silent.\u003cbr/\u003eThere  are fears that if the European Union abandons a trade agreement under which it  pays up to three times the market price for sugar - as it has threatened to do if any  member of Speight's group is included in a new government - it will be catastrophic for\u003cbr/\u003eFiji.\u003cbr/\u003eMany of the 25-thousand cane farmers, mostly ethnic Indians, would be unable to meet  production costs and be forced off the land. \u003cbr/\u003eMany of the country's two thousand seasonal cane cutters, mostly indigenous\u003cbr/\u003eFijians, would lose their jobs.\u003cbr/\u003eThis year's crop is overdue for harvest, but farmers have refused to do so until  Chaudhry, Fiji's first Indian prime minister, and the other hostages are released.\u003cbr/\u003eBusiness leaders and economists say Fiji's economy is paralysed and the outlook is  not good as long as hostages remain are being held.\u003cbr/\u003eSuva and Nandi regions, Fiji, June 6 and 7 2000 \u003cbr/\u003eSuva, Fiji - June 6 \u003cbr/\u003e1. Pan workers sewing clothing on shop floor of Mark One Apparel's garment factory\u003cbr/\u003e2. Woman using sewing machine\u003cbr/\u003e3. Close up needle of sewing machine\u003cbr/\u003e4. Various factory workers\u003cbr/\u003e5. Close up \"Made in Fiji\" on shirt label\u003cbr/\u003e6. SOUNDBITE: (English) Mark Hallabe, owner of Mark One Apparel\u003cbr/\u003eSuva - June 7 2000\u003cbr/\u003e7. Pan of small office containing Fiji's stock market\u003cbr/\u003e8. Close up dealer writing on listings board\u003cbr/\u003e9. Various stock market employees at work\u003cbr/\u003e10. SOUNDBITE: (English)  Roy Cooper, Interim manager, Suva Stock exchange \u003cbr/\u003e11. Man inside shop seen through broken shop door window\u003cbr/\u003e12. Quiet shopping street\u003cbr/\u003e13. Two men lean cautiously out shop doorway and peer at camera\u003cbr/\u003e14. Various shots burnt out business destroyed recently by looters\u003cbr/\u003eParliament complex, Suva - June 6\u003cbr/\u003e15. Mid shot iron armed gunmen at gate to parliament complex\u003cbr/\u003e16. Close up hand holding automatic weapon\u003cbr/\u003e17. Tilt up man holding M-16 rifle stood in rain\u003cbr/\u003e18. SOUNDBITE: (English) George Speight, coup leader\u003cbr/\u003eNandi region, western Fiji - June 7\u003cbr/\u003e19. Mid shot blank factory sign board\u003cbr/\u003e20. Wide deserted grounds of a sugar mill\u003cbr/\u003e21. 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