ABSTRACT
The Commonwealth of Puerto Rico, an 'unincorporated' territory of the United States (US), is the smallest of four islands which comprise the Greater Antilles, a chain stretching towards the north coast of South America. In large measure, this structural transformation has been fuelled by US direct investment. By 1978, Puerto Rico accounted for 42 per cent of US corporate profits in the Latin American/Caribbean Region, and 30 per cent of accumulated investment in the region. As a result of this investment, Puerto Rico today is home to 2,100 manufacturing operations, 28 per cent of which are engaged in high-technology production, including scientific precision instruments, pharmaceuticals and electronics. The magnitude, complexity, and pace of this overall technological transformation process – from agriculture to labour intensive manufacture to high-tech production to post-industrial services centre in the span of 35 years – has been both astonishing and bewildering.
