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Cuba’s Communist Party Embraces Market Reforms
Description
Cuba’s Communist Party just unleashed a bold economic overhaul, ditching decades of central planning for freer-market experiments — from local municipalities approving businesses to state firms setting their own pay and partnering with private players. Amid U.S. sanctions and a struggling economy, the move aims to revitalize infrastructure, attract investment, and slowly phase out subsidies, letting prices reflect market realities. Inspired by China and Vietnam’s mixed models, this is a high-stakes gamble to balance political control with economic survival — and the real test is whether it works on the ground.
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