Jorge I. Dominguez, a resident of Center Harbor, New Hampshire, and a Harvard University graduate in political science, is a writer and a publisher with extensive knowledge of international politics, especially in Latin America. One of Jorge I. Dominguez's notable works is "The Cuban Economy in a New Era: An Agenda for Change toward Durable Development."
Cuba's economy has undergone significant changes throughout its history. Before the 1959 revolution, it relied heavily on exporting agricultural products such as sugar and tobacco and foreign investment, mainly from the United States. After the revolution, the government implemented a centrally planned economy, nationalizing many industries and receiving support from the Soviet Union. The collapse of the Soviet Union in 1991 led to a severe economic downturn known as the "Special Period," which resulted in shortages and rationing of goods. Under President Raul Castro, the Cuban economy suffered from a failing sugar industry, stagnant agriculture, outdated infrastructure, and the weakening of the Venezuelan economy (which it depended on for oil and financial aid). These predicaments were due to the inefficiency of Cuba's centralized planning and state-controlled economic model. Despite some market-oriented reforms and opening to foreign investment, the country had not achieved its goals for sustainable development. After taking office in 2018, Diaz-Canel, the new president, slowly implemented changes in Cuba, like a new constitution and market economics within the socialist state. However, the leadership's main goal was (and remains) "continuity" and not systemic reform, disappointing many Cubans. US-Cuba relations under former President Trump impeded Cuba's efforts at economic growth as Trump reversed many of Obama's initiatives to ease US policy on Cuba and tightened restrictions on commerce and travel. These policies, combined with Venezuela's economic collapse and US sanctions, led to the worst economic crisis in Cuba since the collapse of the Soviet Union in 1991. The current US President Biden left Trump's restrictions in place during a 15-month policy review and recently eased some sanctions but did not return to normalization.
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AuthorJorge Dominguez - Doctor of Political Science. Archives
November 2021
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