Fidel Castro's Economic Disaster In Cuba
- 3 years ago
but as with all good things it did come to an end.
in 1959 after years of a long and bloody Revolutionary War, the Cuban Communist Party was to power fueled by the will of the people to make sure that the wealth of the country was being returned to the people of the country rather than international corporations and their puppet dictators sounds fair enough
and you know what for the most part it probably was Cuba was a repressed nation at this time and it was their chance to determine their own prosperity so they started off that journey the same way every other great country starts out by nationalizing their telecommunications, industry and their farmland and their
On March 3, 1959, Fidel Castro seized control of the Cuban Telephone Company, which was a subsidiary of the International Telephone and Telecommunications Corporation. This was the first of many nationalizations made by the new government, the assets seized totaled US$9 billion
citizens were not required to pay a personal income tax (their salaries being regarded as net of any taxes).
The government also began to subsidize healthcare and education for all citizens; this action created strong national support for the new revolutionary government.
Cuba was still almost solely reliant on trade with the United States, President Eisenhower blocked all imports of sugar effectively
Eisenhower was quoted saying "This action amounts to economic sanctions against Cuba. Now we must look ahead to other moves - economic, diplomatic, and strategic
On February 7, 1962, Kennedy expanded the United States' embargo to cover almost all U.S. imports.
the Soviet Union and Cuba was a perfect ally for the Soviets to hold on to, to you see the Union of Soviet Socialist Republics had to deal with NATO countries like Turkey and Norway that were basically on their doorstep,
while America was safe and secure on the other side of the world, having a strong ally in Cuba right there off the coast of Florida, was a great way to return that kind of pressure Moscow was facing at this time
so it didn't really make sense economically for the Soviet Union had trade with Cuba, they were just too far away and for the most part, they didn't really need anything that Cuba produced, but it did make sense for them geopolitically
so now Russia through a lot of resources at making Cuba a successful little communist outpost, so Russia brought up Cuba's sugar and in return, they provided the country with refined petroleum, infrastructure and nuclear missiles, and machinery
after the Cuban Missile Crisis, any trade between Cuba and the USA was effectively tied, and the only people left for them to trade with was the Soviet Union, now we have seen time and time again that international trade is one of the key determinants of prosperity in a developing country
in 1959 after years of a long and bloody Revolutionary War, the Cuban Communist Party was to power fueled by the will of the people to make sure that the wealth of the country was being returned to the people of the country rather than international corporations and their puppet dictators sounds fair enough
and you know what for the most part it probably was Cuba was a repressed nation at this time and it was their chance to determine their own prosperity so they started off that journey the same way every other great country starts out by nationalizing their telecommunications, industry and their farmland and their
On March 3, 1959, Fidel Castro seized control of the Cuban Telephone Company, which was a subsidiary of the International Telephone and Telecommunications Corporation. This was the first of many nationalizations made by the new government, the assets seized totaled US$9 billion
citizens were not required to pay a personal income tax (their salaries being regarded as net of any taxes).
The government also began to subsidize healthcare and education for all citizens; this action created strong national support for the new revolutionary government.
Cuba was still almost solely reliant on trade with the United States, President Eisenhower blocked all imports of sugar effectively
Eisenhower was quoted saying "This action amounts to economic sanctions against Cuba. Now we must look ahead to other moves - economic, diplomatic, and strategic
On February 7, 1962, Kennedy expanded the United States' embargo to cover almost all U.S. imports.
the Soviet Union and Cuba was a perfect ally for the Soviets to hold on to, to you see the Union of Soviet Socialist Republics had to deal with NATO countries like Turkey and Norway that were basically on their doorstep,
while America was safe and secure on the other side of the world, having a strong ally in Cuba right there off the coast of Florida, was a great way to return that kind of pressure Moscow was facing at this time
so it didn't really make sense economically for the Soviet Union had trade with Cuba, they were just too far away and for the most part, they didn't really need anything that Cuba produced, but it did make sense for them geopolitically
so now Russia through a lot of resources at making Cuba a successful little communist outpost, so Russia brought up Cuba's sugar and in return, they provided the country with refined petroleum, infrastructure and nuclear missiles, and machinery
after the Cuban Missile Crisis, any trade between Cuba and the USA was effectively tied, and the only people left for them to trade with was the Soviet Union, now we have seen time and time again that international trade is one of the key determinants of prosperity in a developing country