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U.S. – Cuban Relations : Influence on Economy

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Farhad Aarozo
Farhad Aarozo

This presentation studies the relation between US and Cuba. The case study is economic embargo on Cuba.

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U.S. – Cuban Relations : Influence on Economy
 Brief economical history before embargo  The embargo  Influence of embargo on economy  Public opinion about embargo  Conclusion
1856 1959 Sugar prices collapse U.S. controls over 75% of Cuban industries, railroads, and utilities.
 Before 1959 the U.S. was Cuba’s main trading partner.  Florida  40% of all cargo being routed through Miami’s customs district was transported to Cuba.  85% of Cuba’s exports were transported to the united states.  90% of raw sugar and tobacco was send to the US.
 US embargo imposed on Cuba in October 1960  Restriction in traveling_ remittance_ gifts  Reform in the regime_ Castro  The U.S. embargo on Cuba will remain in place despite Fidel Castro's announcement that he's resigning as Cuba's leader.  The Cuban Democracy Act_ 1992  Helms–Burton Act_1996, further restricted United States citizens from doing business
 In 1999, U.S. President Bill Clinton expanded the trade embargo even further by also disallowing foreign subsidiaries  In 2000, Clinton authorized the sale of certain "humanitarian" US products to Cub  April 13, 2009 President Obama lifted some of the restrictions on Cuba including some travel and annual giving.  he Trade Sanctions Reform and Export Enhancement Act of 2000 allows cash-only sales to Cuba of U.S. farm products and medical supplies
 Both US and Cuba lost their partnership - US lost cheap and skilled Cuban labor force - Easier access to natural resources – Nickel - geographical proximity for trade - US products lost one of its largest market - According to a study by the U.S. International Trade Commission, the embargo costs American firms a total of $700 million to $1.2 billion per year
 Cuban economical crises: - a trillion dollars loss to the island's economy (CBCNEWS, 2011) - direct impact on Cuban’s life because of shortage of food and medicine - contradiction with the principles of the promotion and protection of human rights
 http://www.youtube.com/watch?v=OumTm KkhG08 • Many interest groups such as the U.S. Rice Federation support lifting the embargo. Cuba would become 2nd largest importer of U.S. rice. • Over 95% of U.N. member nations vote annually for the U.S. to lift the embargo on Cuba except the US, Israel and Uzbekistan
Currently in Cuba •70th in the world economy •GDP ($51.1 billion) •Main exports: Sugar, oil, tobacco, coffee, tourism •Est. GDP growth in 2008: 7% •Leading importers: China, Spain, Germany, and Canada •Literacy rate: 98.8% •Est. Unemployment rate 2008: 1.8%
Conclusion •Sanctions have had “little to no effect on changing state policy.” •The regime has not changed and it is still not will to bring changes in its internal policies. •Cuba has tried to survive without US partnership •Lifting the embargo would favor both of the countries.
U.S. – Cuban Relations : Influence on Economy
 http://www.jstor.org/discover/10.2307/20047 491?uid=2&uid=4&sid=21102830648017  http://www.cfr.org/cuba/us-cuba- relations/p11113  http://leftistregimesinlatinamerica.webs.com/ JORGEIDOMINGUEZ.pdf  http://www.youtube.com/watch?v=OumTm KkhG08

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U.S. – Cuban Relations : Influence on Economy

  • 2.  Brief economical history before embargo  The embargo  Influence of embargo on economy  Public opinion about embargo  Conclusion
  • 3. 1856 1959 Sugar prices collapse U.S. controls over 75% of Cuban industries, railroads, and utilities.
  • 4.  Before 1959 the U.S. was Cuba’s main trading partner.  Florida  40% of all cargo being routed through Miami’s customs district was transported to Cuba.  85% of Cuba’s exports were transported to the united states.  90% of raw sugar and tobacco was send to the US.
  • 5.  US embargo imposed on Cuba in October 1960  Restriction in traveling_ remittance_ gifts  Reform in the regime_ Castro  The U.S. embargo on Cuba will remain in place despite Fidel Castro's announcement that he's resigning as Cuba's leader.  The Cuban Democracy Act_ 1992  Helms–Burton Act_1996, further restricted United States citizens from doing business
  • 6.  In 1999, U.S. President Bill Clinton expanded the trade embargo even further by also disallowing foreign subsidiaries  In 2000, Clinton authorized the sale of certain "humanitarian" US products to Cub  April 13, 2009 President Obama lifted some of the restrictions on Cuba including some travel and annual giving.  he Trade Sanctions Reform and Export Enhancement Act of 2000 allows cash-only sales to Cuba of U.S. farm products and medical supplies
  • 7.  Both US and Cuba lost their partnership - US lost cheap and skilled Cuban labor force - Easier access to natural resources – Nickel - geographical proximity for trade - US products lost one of its largest market - According to a study by the U.S. International Trade Commission, the embargo costs American firms a total of $700 million to $1.2 billion per year
  • 8.  Cuban economical crises: - a trillion dollars loss to the island's economy (CBCNEWS, 2011) - direct impact on Cuban’s life because of shortage of food and medicine - contradiction with the principles of the promotion and protection of human rights
  • 9.  http://www.youtube.com/watch?v=OumTm KkhG08 • Many interest groups such as the U.S. Rice Federation support lifting the embargo. Cuba would become 2nd largest importer of U.S. rice. • Over 95% of U.N. member nations vote annually for the U.S. to lift the embargo on Cuba except the US, Israel and Uzbekistan
  • 10. Currently in Cuba •70th in the world economy •GDP ($51.1 billion) •Main exports: Sugar, oil, tobacco, coffee, tourism •Est. GDP growth in 2008: 7% •Leading importers: China, Spain, Germany, and Canada •Literacy rate: 98.8% •Est. Unemployment rate 2008: 1.8%
  • 11. Conclusion •Sanctions have had “little to no effect on changing state policy.” •The regime has not changed and it is still not will to bring changes in its internal policies. •Cuba has tried to survive without US partnership •Lifting the embargo would favor both of the countries.
  • 13.  http://www.jstor.org/discover/10.2307/20047 491?uid=2&uid=4&sid=21102830648017  http://www.cfr.org/cuba/us-cuba- relations/p11113  http://leftistregimesinlatinamerica.webs.com/ JORGEIDOMINGUEZ.pdf  http://www.youtube.com/watch?v=OumTm KkhG08