27 March 2011

CUBA: Slowly Evolving Socialist Economy Now Under Pressure By China.

BBC / R. PLUMMER / Overview /

   Cuba's struggling socialist system is slowly getting a dose of economic evolution.
   The centrally planned economy is changing but without large-scale market reforms...while still heavily in debt.
    The Paris Club lists Cuba as its second-biggest debtor...owing $30.4bn as of 2009.
    China, one of the island's biggest recent benefactors, is now pushing Cuba to modernize because Beijing is tired of its continual loan repayment failures.