Saturday, December 11, 2010
Cuba to be insolvent within 2-3 years
I found this article to be very interesting and relevant to our discussions in class. Cuba, one of only two communist nations left, is predicted to be insolvent as early as late 2011. This provides further evidence that communism in practice is not a viable economic system and Cuba will be going through a transition economy in the near future. What are you thoughts regarding the Cuba's solvency issues?
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3 comments:
I completely agree, that Cuba communist economy system is becoming insolvent. We will definitely see Cuba transition to a different economy to become more efficient in the coming years. As long as there is no corruption in the system Cuba transition could prove to have a positive economic impact on the american economy.
Cuba will be in transition very soon as they are not a very well functioning government. There is a lot of problems with Cuba and the United States right now and this would greatly help the relations between the two nations. Hopefully this happens sooner rather than later in the future. Cuba in not efficient in many aspects and this would greatly improve that as well.
Cuba has two options for aids, Venezuela or the U.S. to solve its problem of insolvency. Since Cuba is not really in the greatest term with the U.S., I do not think that it is going to begin its transitory process any time soon towards democracy. On the other hand, the more viable option for Cuba would be to seek aid with Venezuela. Cuba has highly been depending upon Venezuela for oil and thus it will sure do the same for other needs. Therefore, we will probably see a higher reliance upon Venezuela in the near future.
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