Cuba's Economic Transition Challenges

Cuba is undergoing significant economic changes due to a crisis exacerbated by declining tourism, US sanctions, and global conflicts. The country is transitioning from a Soviet-style economy to a mixed economy with private business growth. Entrepreneurs like Gabriel Perez Gonzalez are pioneering new ventures. Despite reforms, the US embargo remains a major obstacle. President Biden has pledged support for Cuban entrepreneurs, signaling a shift in US-Cuba relations.

What are some of the factors contributing to Cuba's economic crisis?

• Increased foreign investments

• Declining tourism revenue

• US sanctions

• High food and energy prices

What new business opportunity did Gabriel Perez Gonzalez pursue after his restaurant venture failed?

• Opening a tech startup

• Launching a tourism company

• Starting a flower production business

• Investing in real estate

What significant economic shift is happening in Cuba?

• A return to a fully communist economy

• Nationalization of foreign companies

• A move towards a market economy

• Complete privatization of all businesses

What was a major reason for Cuba's shift towards a mixed economy?

• Desire to increase state control

• Success of the Soviet-style command economy

• Failure of the Soviet-style command economy

• Pressure from international organizations

What did President Miguel Diaz Canal recognize in 2019?

• The need for more state control

• The legitimacy of the private sector

• The importance of foreign aid

• The success of the command economy

What is the role of Aldo Alvarez in the new Cuban economy?

• A state-run enterprise manager

• A foreign investor

• A private business owner

• A government official

What is a major obstacle to Cuba's economic improvement?

• High unemployment rates

• Lack of natural resources

• US embargo

• Political instability

What is the new constitutional right for Cubans regarding business?

• Right to free healthcare

• Right to private business ownership

• Right to free education

• Right to government jobs

How has the number of private businesses changed in recent years in Cuba?

• Increased to over 8,700

• Doubled to 500

• Remained the same

• Decreased significantly

What is the US's stance on Cuba's economic transition?

• Support for Cuban entrepreneurs

• Complete opposition

• Indifference

• Demand for more state control