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At one point Cuba exported 60% of the world's sugar. If not for a trade embargo with the US (its most important trade partner) for the last 70 years, Cuba would
by xrd 7y ago
At one point Cuba exported 60% of the world's sugar. If not for a trade embargo with the US (its most important trade partner) for the last 70 years, Cuba would be a very different place. Who knows if many of these architectural relics would be in better shape (arguably "progress" might have meant they would have been demolished for newer buildings). They have an amazing literacy rate (99.7%, one of the highest in the world) and incredible doctors, but yet have terrible poverty and a repressive state. I always wonder whether this will be the year that the country opens up and connects with the rest of the world.
- jariel 7y agoThere is no 'blockade' of Cuba, they are free to trade with the other 186 or so nations on planet earth, and can buy/sell most American goods via other destinations. They are a member of the WTO (!!) Since commodity markets are fungible there isn't a huge reason for sugar to be seriously devalued. It's hard to 'blame America' for the totalitarian rule of Castro Inc. in Cuba, this subject makes me wonder deeply about the nature of perspective of populist leftists, anti-Americans etc.. Cuba is always an interesting litmus test for those who are willing to completely look the other way so long as the 'red flag' is on the pole. The revolution made a few leaps and then failed miserably, as so many do, which is a real shame, because it's such a wonderful country otherwise. It'd be amazing to see what that country would be under some kind of normal leadership - I suggest it would be the richest in Latin America.
- selestify 7y agoThat is simply not true — see the 180 day rule that prevents any ship docking in Cuba from entering US ports for the next 180 days. It’s not like the rest of the world is just free to trade with Cuba without repercussions from the US, and given the much smaller Cuban market, it’s not surprising that many operators would rather avoid the trouble of unloading cargo there. The revolution has done pretty remarkably well given the adverse circumstances it was placed under.
- varjag 7y agoShipping is a plentiful resource, lots of shipowners are not on good terms with the U.S. Treasury already and 6 months is not that much time. Doubt that rule has much effect: the invisible hand helps communists just as good even if they hate it.
- leereeves 7y agoThere was a whole potential trading block of nations with similar government systems that could trade with Cuba, but none of them had much to trade until they embraced some form of capitalism.
- dsign 7y agoIt is true. Just try to take about anything into the country which is not for personal use, and you will see it confiscated by Cuba's customs. Only a handful of entities strongly affiliated with the Cuban government can import goods for commerce in Cuba. You can check it here: https://www.nordeatrade.com/en/explore-new-market/cuba/customs https://www.nordeatrade.com/en/explore-new-market/cuba/custo... under the "Import Procedures" paragraph.
- goatinaboat 7y agoI suggest it would be the richest in Latin America. It would face some stiff competition - well-governed, Venezuela or Argentina could easily be. And we know this because for brief periods, they were!
- goatinaboat 7y agoAt one point Cuba exported 60% of the world's sugar. The USSR paid 5-10x the global market price for Cuban sugar to prop up their fellow regime. But when the USSR dissolved Cuba had no one else willing to be its patron and it’s economy wasn’t designed for the real price. There are nice buildings around Havana, gorgeous colonial mansions for the chosen few. Most people live with 3 families crammed into an apartment designed for one.