Thursday, February 21, 2008

What's wrong with the Cuban economy

The BBC, which was recently described by the Castro regime as one of several media outlets at the pay of those nasty American imperialists (laughable, no?), has posted on its website an excellent explanation of what is wrong with the Cuban economy.

Written by business reporter Robert Plummer, the article explains that both politically and economically, the island is a mess essentially as a result of Fidel Castro's intransigence.

Mr Plummer argues in his analysis that Cuba is “a long way from the revolutionary confidence it enjoyed during the height of the Cold War in the early and mid-1970s”.

“Now many observers, without any real hard evidence to go on, are pinning their hopes on the prospect of wide-ranging economic reforms, under Mr Castro's brother Raul or whoever emerges as a longer-term successor,” he writes.

“But during Raul's time in office as acting leader, he has shown little desire to embrace radical change. Cuba may have to wait for a new generation of leaders before liberalisation arrives.”


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