The Economy of Cuba

Cuba's economy is a unique blend of capitalism and communism, shaped by historical influences from the US and the Soviet Union. Despite its natural resources and educated workforce, Cuba struggles economically due to past American corporate dominance and the collapse of the USSR. The Cuban Revolution led to nationalization, but US trade embargoes and the loss of Soviet support caused economic hardship. In response, Cuba opened up to tourism and foreign investment, leading to some economic improvement. However, challenges remain, such as low salaries for professionals and reliance on tourism.

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