Ladies and Gentlemen: Cuba is open for bidness (except to the US who is still embargo-ing them. and why not, it’s worked so well the last 50+ years)!
Among other things, “Investment projects wholly funded by foreign capital would be explicitly allowed in all sectors except health care and education, something that is essentially unheard of today.”
Along with this, the legislature passed tax cuts and cut red tape.
All of these are undoubtably good ideas for Cuba. I guess we have not embargoed them from appropriating the Washington Consensus!
But my favorite bit is how Cuba’s VP and economy czar explained the move:
“Cuba needs from $2 billion to $2.5 billion a year in direct foreign investment to advance its socialist socio-economic model, prosperous and sustainable,”
He kinda pulled a William Westmoreland there, no? “In order to save our socialist model we have to destroy it”.
Of course, the proof will be in the economic pudding. It’s one thing to vote for a freer economy; it’s quite another to actually let it come to pass.