Cuban Capitalism

April 2023 Forums General discussion Cuban Capitalism

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    Rules on foreign ownership relaxed

    Deputy trade minister Ana Gonzalez Fraga said foreign investors would be allowed to fully own Cuban wholesalers for the first time since Fidel Castro’s 1959 revolution, while retailers could enter into public-private ventures. Previously, foreign investment in Cuba was only allowed in domestic manufacturing and the service sector.


    That process has been implemented since the times of Fidel Castro, one of the foreign capitalist emissary was John Paul II . Several Spanish capitalists invested in Tourism and the hotel industry, the capitalist state and the foreign investor share the profits. Cuban and Dominican tourism took the place of Puerto Rico which was like Las Vegas in El Condado. It has a Malecon like in Santo Domingo and Habanas. The American Sicilians mafias was replaced by the European mafias. The Russian organized crimes is making large investment in Latin Americas and the Caribbean islands


    185 countries on Thursday voted in favour of a non-binding resolution condemning the embargo on Cuba, with the US and Israel voting against and Brazil and Ukraine abstaining.

    It was the 30th time the UN has voted to condemn the US policy


    The economical crisis is not only produced by the embargo, it is also produced by the mode of production or state capitalism because Cuba has commercial and trade relationship with other countries in Latin America, Asia ( Vietnam, Japan and China ) Africa, Middle East and Europe, and sometimes the USA violate the embargo by selling agricultural products using prepaid Letters of Credit. Spain, Germany and Italian capitalist have tourist investments in hotels, tobacco, banking and industrial production


    Biden pledged during his 2020 presidential campaign that he would “try to reverse the failed Trump policies that inflicted harm on Cubans and their families.”

    Vice-minister of Foreign Affairs of Cuba, Fernández de Cossío said that Biden has applied “with absolute and surprising loyalty … the policy of maximum economic pressure that was designed by his predecessor, Donald Trump.”

    “The current U.S. government, the one of Joseph Biden, of all those that the Cuban Revolution has known, is the one that has most aggressively and effectively applied the economic blockade. It is the one that punishes the most, the one that causes the most damage to the daily life of Cubans and the economy as a whole.”

    Cuba Says Biden Applies Blockade Even More Aggressively Than His Predecessors

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