Richard Feinberg

Commentary
10:54 am
Fri March 28, 2014

Castro Opens Cuba's Capitalist Door Another Notch – Should Washington Walk Through?

Cuban leader Raul Castro with leaders of the ruling communist party.
Credit Flickr

It may or not be a coincidence that Cuban leader Raúl Castro disclosed his new foreign investment law this week just as Venezuela was getting another big thumbs-down from the financial world.

Cuba’s threadbare communist economy depends on kindred benefactors like socialist Venezuela. But as that oil-rich country’s own economy continues to implode – the Fitch Ratings company downgraded Venezuelan credit to “Outlook Negative” on Tuesday – Castro has no choice but to open his island’s rusted doors more broadly to capital, capitalism and capitalists.

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