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Castro’s Screw Up And Cuba's Economic Crisis
Start of Term Paper
Before Fidel Castro took power on January 1, 1959, Cuba ranked third in per capita income among Latin American nations, behind Argentina and Venezuela. The island's economy was agriculturally based, with sugar, tobacco and citrus as the princi .... Middle of Term Paper
... Soviet Union and its allies (including military aid.) In 1972, Cuba became a member of the former Soviet bloc's Council on Mutual Economic Assistance (CMEA) and underwent major structural changes to adapt its trade and industry to the new relationship. By 1987 CMEA countries accounted for over 85% of Cuban trade despite new bilateral accords signed with many countries including Colombia, Mexico, Spain and Venezuela.
Although Cuba's revolutionary leaders had intended to pursue a policy of economic diversification, they quickly had to abandon this approach. Instead, the government emphasized increased sugar production to garner essential ... |
| Number of Words: 1965 |
Approximate Pages: 8 |
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