Article originally published in NYT: https://www.nytimes.com/2019/03/28/opinion/cuba-economy.html
For the past 60 years, Cuba has been unable to finance its imports with its own exports and generate appropriate, sustainable growth without substantial aid and subsidies from a foreign nation. This is the longstanding legacy of Cuba’s socialist economy.
La constante fundamental en los 60 años de la economía socialista de Cuba ha sido su total incapacidad para generar un crecimiento adecuado y sostenible, sin ayuda y subsidios considerables de una nación extranjera, a fin de poder financiar sus importaciones con sus propias exportaciones. La historia de esta dependencia económica comenzó con España en la época de la colonia, continuó con Estados Unidos durante la primera república, se expandió de manera significativa con la Unión Soviética y finalmente con Venezuela desde el inicio de este siglo.
China’s involvement in Latin America has been rapidly increasing in the past two decades with Chinese companies investing over $110 billion since 2003, but primarily in the last five years. The nature of these investments has been changing as well.
As one of the nation's most prestigious academic institutions, Harvard University carefully invests its endowment in order to maintain its funds. One of the university’s most lucrative investments has been in natural resources, particularly timber companies in Argentina.
