November 7, 2011
Castro's Radical Reform
Financial Times, Financial Times
A new sub-prime housing market may be opening 90 miles south of the US. For the first time in half a century, Cubans can now buy and sell their homes. The move is the latest in a series of reforms begun by President Raúl Castro in an attempt to lift the economy out of its almost vegetative state. These have included cutting subsidies, slashing state payrolls and liberalising small businesses. As property rights and private enterprise are the cornerstones of capitalism, that communist Cuba now has both suggests the revolution is breathing its last.
TAGGED: Fidel Castro, Cuba