Episode Details

Cuba’s Communist Party just approved sweeping free-market reforms to revitalize its struggling economy under mounting U.S. pressure. The plan decentralizes control, empowering municipalities and state companies to manage businesses, set wages, and handle foreign currency independently. Long-standing state monopolies are being dismantled, with subsidies phased out and prices moving toward market rates. Abandoned infrastructure may be repurposed, partly in response to U.S. sanctions hurting tourism. Inspired by China and Vietnam, these changes aim to inject market dynamism while preserving one-party rule — a bold pivot to survive economic strain and external pressure.

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