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How Fidel Ruined Cuba’s Economy – Cuba’s GDP is now five percent of what it was before Fidel Castro assumed power.
Tagged: Cuba, Professor, raul castro
On Sunday, Raul Castro became Cuba’s new president, succeeding his brother Fidel Castro. Fidel had ruled Cuba since January 1959, when he led a popular revolution. However, once in power he failed to deliver on promises of democracy, and implemented a totalitarian system which also suffocated private enterprise.
Nearly 50 years of Fidel Castro have nearly ruined a once-prosperous economy, experts say. “It is a basket case, with a continuously shrinking basket,” says Jorge Salazar-Carrillo, a professor of economics at Florida International University.”*
*From: www.latinbusinesschronicle.com
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Filed Under: 1. Hispanic News, Business, Business News, International
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