Black Pages VA

Letter from the publisher Dear Black Pages Supporter: A major mandate for the African-American community is to harness our $900 billion in annual economic clout. For too long disjointed efforts have resulted in us retaining little of the wealth that we create each year. Many other groups have prospered in our free market society by adhering to a basic economic principle -- the recirculation of dollars within their communities.

Less developed countries have also seized on this simple principle. China has flooded the U.S. market place with imports, while displacing American workers and holding the lien on billions of dollars in U.S. debt. Yet China has fiercely guarded its own marketplace, creating a huge trade imbalance that ensures the United States will stay in its debt for the foreseeable future. At the time of this writing, the ratio was nearly 5:1. For every $5 in products that China exported to the United States, they imported $1 in American products, according to foreign trade statistics from the U.S. Census Bureau.

While our capitalistic, entrepreneurial spirit has gained traction around the globe, we continue to negate our role as major power brokers wielding $900 billion in spending power each year.

As our nation rebounds from an economic recession brought on by greed, lack of vision, weak leadership and the lack of investment in less developed regions of our country, we have a unique “teaching moment.� We know that enterprise must be tempered with social responsibility and that a responsible government must intervene when the business community loses focus of that fact.

Even in its infancy, the administration of President Barack Obama has done much to raise the profile of African-Americans and has, more importantly, set the pace for a new wave of young, well-educated entrepreneurs. None can dispute the fact that we are the wealthiest and most educated professionals and entrepreneurs in the entire civilized world. Our history as hard working Americans has been documented through the sacrifice of many of our ancestors, who made the treacherous journey from the shores of Africa, built a foreign country, and otherwise survived unparalleled obstacles.

The time is now for a systematic reshifting of our priorities. Yes, we must create competitive businesses, but we must also become competitive consumers — not only within our borders, but within the global economy.

Gerry McCants, Publisher President, McCants Communications Group, Inc.