Richard Feinberg On Cuban Sugar Industry
Cuban sugar harvest shows limits of reforms
05/31/2012
Business Recorder
A new business model being rolled out by Communist-run Cuba as part of wide-ranging economic reforms has performed poorly in its first test - this year's sugar harvest - and revealed shortcomings in the plan, local and foreign experts said this week.
Changes aimed at giving state companies more autonomy proved to be too limited, they said, echoing a common complaint about Cuban President Raul Castro's efforts to remake the island's struggling economy. In pursuit of greater profits and productivity, Cuban ministries are shedding their business activity in favour of state-run holding companies, and in some cases are closing entirely.
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Richard Feinberg is Professor of International Political Economy and Chair of the Global Leadership Institute at IR/PS. He can comment on U.S. foreign policy matters, notably with regard to Latin America and Asia, and business and economic matters.
