International Political Economy: Cuba & U.S. Relations
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International Political Economy: Cuba & U.S. Relations

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    International Political Economy: Cuba & U.S. Relations International Political Economy: Cuba & U.S. Relations Presentation Transcript

    • Cuba
      The Past, Present, and Future of the Trade Embargo
    • 1856
      1959
      Cuba produces 25% of worlds sugar.
      Fidel Castro over throws Batista.
      U.S. intervenes in Cuba Economic crisis
      U.S. controls over 75% of Cuban industries, railroads, and utilities.
      Sugar prices collapse
    • The Rise of Castro
      • Gained support by promising to abolish dependency on the United States.
      • Socialist realignment cost over $1 Billion in the first year.
      • Turned to the Soviet Union for economic help.
      • Soviet Union accounted for 49.3% of all Cuban trade by 1962.
    • The Embargo
      • Part of a series of policy maneuvers designed to remove Castro from power without military force.
      • Sprang from fear of the close proximity of communist interests to the United States.
      • The collapse of the Soviet Union plunged Cuba in to economic disparity.
      • Sanctions on Cuba increased for almost 50 years regardless of political party. Including: after an incident in 1998 under President Clinton and in 2004 under President Bush.
      • Sanctions would not begin to be reduced until 2009 under President Obama.
    • Sanctions
      • Except for publications and other licensed items, no products, technology, or services may be exported from the U.S. to Cuba.
      • Goods or services of Cuban origin may not be imported into the U.S. directly or through third party countries such as Canada or Mexico.
      • A total freeze on Cuban assets, both governmental and private, and on financial dealings with the Cuba.
      • Gifts from the U.S. citizens to immediate family in Cuba must not exceed a value of $200.00 and be sent no more than once a month.
      • Only persons with certain licenses, may travel to Cuba providing they spend no more than $50.00 per day on non-transportation expenses and no more than $50 per day on transportation expenses.
    • Currently in Cuba
      • 70th in the world economy
      • GDP ($51.1 billion)
      • 3:1 import to export trade disparity
      • Main exports:
      Sugar, oil, tobacco, coffee, tourism
      • Est. GDP growth in 2008: 7%
      • Leading importers:
      China, Spain, Germany, and Canada
      • Literacy rate: 98.8%
      • Est. Unemployment rate 2008: 1.8%
      • Defined by low paying government employment: 77%
    • Future of Cuba
      • Sanctions have had “little to no effect on changing state policy.”
      • Castro is still a main political figure after 50 years, even though Raul Castro is now President.
      • Many interest groups such as the U.S. Rice Federation support lifting the embargo. Cuba would become 2nd largest importer of U.S. rice.
      • Over 95% of U.N. member nations vote annually for the U.S. to lift the embargo on Cuba
      • Raul Castro has been calling for a meeting with U.S. on “neutral ground”
      • April 13, 2009 President Obama lifts some of the restrictions on Cuba including some travel and annual giving.
    • Conclusion
      • Sanctions have shown little progress after 50 years.
      • The international community supports lifting the embargo
      • Many U.S. interests support lifting the embargo.
      • Economist predict that in the next 10 years, the Cuban embargo will be lifted and free trade policies will be again embraced.
      • Questions?