Cubas economic policy from 1945 to 2002

Cuba is the largest Caribbean island and the most westerly of the greater Antillrd group. Cuba is one of the few remaining countries committed to the socialist mode of production. The ruling communist Party of Cuba continues to limit market reforms to tourisms, nickel production, and a small number of domestic farmers and retail businesses.

Tourism is the fastest growing industry, and the largest source of foreign exchange. Sugar, nickel, mining, and tobacco are also important industries, as well as the manufacturing sector. The collapse of the Soviet aid in the early 1990s forced Cuba to implement many economic reforms to stimulate new sources of foreign investment and develop new trading partners.

US opposition to Cuban membership in multilateral institutions, such as the IMF and the World Bank, combined with a US trade embargo, continue to hamper development. Cuba is largely politically stable, but uncertain over Fidel Castro’s eventual succession is causing some anxiety.

From the time the United States granted Cuba its independence in 1902 through to the 1950s, Cuba was an important source of sugars, cig

Cuba in the fifties was virtually an American colony run by Batiste for the benefit of American sugar barons and the Mafia. Against overwhelming odds, Castro and his comrades of the 26th of July Movement marched into Havana on New Years Day 1959, victorious.

The US broke off diplomatic relations with Cuba in 1961 and imposed a trade and financial embargo in 1962. The embargo was tightened by the Cuban Democracy Act of 1992, and the Cuban Liberty and Democratic Solidarity Act of 1996 (Helms Burton). The 1992 act penalized other countries if their ships stopped in Cuba. All of this forced Cuba to rely on more distant suppliers and markets in Europe and Asia. Since ships engaged in Cuban trade were unable to enter US ports, Cuba was also forced to use high-cost Cuban vessels or pay higher freight charges to cover empty back hauls to non-US ports. All this led to increased import costs. This, in turn led to higher costs and lower levels of production, high food prices, and chronic food shortages, exacerbated in 1998 by drought.

Some topics in this essay:
Eastern European, Latin America, Soviet Union, LAIA Canada, Havana Day, Cold War, Europe Asia, United Cuba’s, Party Cuba, WWWCUBASOURCEORG Cuba, cuban sugar, cuban economy, cuba’s economic, • figure, world trade database, trade database, world trade, source statistics, 1994-1999 period, cuba’s sugar, cuba’s economy, 1999 1994-1999 period, canada world trade, 1994-1999 period imports, american business cuba,