Here's a sentence no one expected to read: The government of Cuba is embracing the importance of markets and the business sector. Earlier this month, the state-run newspaper Granma announced 176 economic reforms that would legalize private banking, private business ownership, private real estate ownership, and the privatization of state-owned companies. It is an admission that Fidel Castro's communist experiments of the 1960s have failed.
"Cuba must not repeat the mistakes of the past, and must not depend, in economic matters, on any single product or any single country. Our country must seek an economic development path where we must inevitably diversify our economy, diversify the way we do business, and the way we project investments," Castro's great-nephew Raul Guillermo Rodriguez Castro told The National, a newspaper close to the government of the United Arab Emirates.
