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20th Century Cuba

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Introduction The island nation of Cuba is in a strange economic situation, stuck between an outdated state run government and an increasingly more complex global economy. Cuba is one of the last Communist nations from the Cold War. It has held onto its Communist ideals for the last 50 years but that is changing. With a new President in Raul Castro, the country is breaking down barriers with the United States and opening new frontiers for its citizens.
History of Cuba Discovered by Christopher Columbus in the late 14th Century; Cuba was inhabited heavily by aboriginal groups. Spain colonized the island in the 16th and 17th Centuries; bringing their culture, institutions, language, and religion. Agriculture served as the basis of the Cuban …show more content…
This led to a revolt, headed by Fidel Castro. With the help of Cuban revolutionaries Castro expropriated U.S. investments and properties in 1961, and successfully converted Cuba into a one party Communist system. American and Cuban relations deteriorated quickly. In response to the direction Castro was taking Cuba, the U.S. imposed the Embargo, which stopped all trade between Cuba and the United States. In response to the Embargo, Cuba created strong alliances with the Soviet Union, even allowing them to store missiles on the island. Since Castro has taken control of the country it has been keep shielded from much of the global market. Doing much of its trading with the former Soviet Union and more recently Ecuador. While Cuba at one time had a vibrant economy it has been tarnished over the last 50 years. With the country struggling to give enough citizens adequate basic necessities. Cuba is in serious need of economic reform. Which it is getting slowing from the new President Raul …show more content…
Only in North Korea do you find a more controled economy. This has put Cuba at a disadvantage over the last 50 years and it is now trying to play catch-up. While there are positive signs for the country it still needs more work. The Cuban monetary system is split in two currencies and only makes it harder for citizens and foreign investors to do business there. This alongside an outdated infrastructer makes Cuba very difficult for foreign investors to inflatrate. But for the companies that can, it is a large untapped market place. It is a country that was pouised to become the economic hub of the Carribean but now has been left

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