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Cuba is now trying to copy China's economic success by opening up its first special economic zone (SEZ) like what China did in the 1980s under Deng Xiaoping.
Somehow, I am skeptical this will gain much traction, considering Cuba has already has a lot of competition for cheap labour from other nations around the Caribbean. Furthermore, nothing has been heard about that 20 billion barrel oil discovery off the Cuban coast from a couple of years ago. So perhaps Cuba may remain dependent on tourism (from Canada and EU tourists, while Americans normally can't visit Cuba, IIRC) as one of its major revenue sources.
Somehow, I am skeptical this will gain much traction, considering Cuba has already has a lot of competition for cheap labour from other nations around the Caribbean. Furthermore, nothing has been heard about that 20 billion barrel oil discovery off the Cuban coast from a couple of years ago. So perhaps Cuba may remain dependent on tourism (from Canada and EU tourists, while Americans normally can't visit Cuba, IIRC) as one of its major revenue sources.
Cuba builds communism-free zone to woo capitalist businesses
HAVANA, Cuba — One country, two systems. The formula has worked for China’s business-minded communists. Can it succeed in Cuba?
President Raul Castro’s government is building its own version of a Chinese-style economic zone on the banks of the Mariel Bay, 30 miles west of Havana, where the laws of scientific Marxism will not apply.
Inside a 180-square-mile special economic zone, Cuban planners have envisioned a global capitalist enclave where foreign companies can install manufacturing plants, research centers and operational hubs.
This island within an island will operate on the business principles of globalization -- not tropical socialism -- and like China’s 1980s reforms, it would offer communist authorities an expedient way to compartmentalize economics and ideology.
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